Apollo Targets at Least $6 Billion for Third Hybrid Value Fund [BNN Bloomberg (Canada)]
Albertsons Companies, Inc. Class A (ACI)
US:NYSE Investor Relations:
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Source: BNN Bloomberg
This will be its third Hybrid Value Fund. Apollo's $13 billion Hybrid Value business, co-headed by Rob Ruberton and Jason Scheir, offers investors higher returns — and risk — than traditional forms of debt while stopping short of full company buyouts, according to the firm's website. The strategy gained 15.4% last year. A spokesperson for Apollo declined to comment. New York-based Apollo raised $4.6 billion in 2022 for its previous hybrid value fund. The unit has provided financing for companies including Albertsons Cos Inc., Expedia Group Inc. and Direct ChassisLink Inc. Chief Executive Officer Marc Rowan said on its fourth-quarter earnings call that Apollo needed to originate more hybrid investments to meet anticipated investor demand. The firm had $62 billion overall in hybrid assets at year-end. “If we want to play a role in allowing high-net-worth investors and institutional investors to pivot out of active management of equity, I believe they're going to pivot into hy
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ACI
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- Albertsons (ACI) Q4 Earnings In Line, Sales Miss Estimates [Yahoo! Finance]Yahoo! Finance
- Albertsons Companies, Inc. (NYSE: ACI) had its "market perform" rating re-affirmed by analysts at Telsey Advisory Group. They now have a $27.25 price target on the stock.MarketBeat
- Albertsons Companies, Inc. (NYSE: ACI) was upgraded by analysts at Roth Mkm from a "neutral" rating to a "buy" rating. They now have a $24.00 price target on the stock.MarketBeat
ACI
Earnings
- 4/22/24 - Beat
ACI
Sec Filings
- 4/26/24 - Form 4
- 4/26/24 - Form 4
- 4/26/24 - Form 4
- ACI's page on the SEC website