Funds managed by affiliates of Apollo Global Management LLC completed the acquisition of 80% stake in Direct ChassisLink Inc. and Blume Global Inc. from EQT Infrastructure funds of EQT Partners AB and EQT Fund Management S.à r.l.
April 15, 2019
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Funds managed by affiliates of Apollo Global Management LLC (NYSE:APO) (‘Apollo’) entered into a definitive agreement to acquire 80% stake in Direct ChassisLink Inc. ("DCLI") and Blume Global Inc. (“Blume”) from EQT Infrastructure funds of EQT Partners AB and EQT Fund Management S.à r.l. on March 7, 2019. EQT will retain a 20% minority stake in DCLI and Blume Global following the transaction. The transaction, which is conditioned on customary regulatory approvals, is expected to close in the second quarter of 2019. Barclays PLC served as the financial advisor and Brian Finnigan of Paul, Weiss, Rifkind, Wharton & Garrison LLP served as the legal advisor to the Apollo funds in the transaction. Citigroup Global Markets Inc. served as the financial advisor and Patrick J. Naughton, Michael T. Holick, Benjamin Bodurian, Robert Maloney Derham, Chase Bentley, Brian Steinhardt, Ryan Bekkerus, Benjamin Heriaud, Jonathan Goldstein, Sarah H. Katz, David Rubinsky, Marcela Robledo, Krista McManus, Dennis Loiacono, J. Pasco Struhs, Sara Y. Razi, Lindsey C. Bohl, Timothy J. Mulvihill, Mick Tuesley and David Caldwell of Simpson Thacher & Bartlett LLP served as the legal advisor to DCLI and EQT Infrastructure funds of EQT Partners AB and EQT Fund Management S.à r.l.
Funds managed by affiliates of Apollo Global Management LLC (NYSE:APO) completed the acquisition of 80% stake in Direct ChassisLink Inc. and Blume Global Inc. from EQT Infrastructure funds of EQT Partners AB and EQT Fund Management S.à r.l. on April 16, 2019. As part of the close, Blume Global becomes an independent company within the Apollo Funds' portfolio.
Apollo Global Management, Inc. is a global alternative asset manager and a retirement services provider. It operates in three segments: Asset Management, Retirement Services and Principal Investing. The Asset Management segment focuses on three investing strategies: yield, hybrid, and equity. These strategies reflect the range of investment capabilities across its platform based on relative risk and return. The Retirement Services business is conducted by Athene Holding Ltd (Athene), a financial services company that specializes in issuing, reinsuring, and acquiring retirement savings products designed for the increasing number of individuals and institutions seeking to fund retirement needs. Athene product lines include annuities and funding agreements. The Principal Investing segment includes realized performance fee income, realized investment income from its balance sheet investments, and certain allocable expenses related to corporate functions supporting the entire company.
Funds managed by affiliates of Apollo Global Management LLC completed the acquisition of 80% stake in Direct ChassisLink Inc. and Blume Global Inc. from EQT Infrastructure funds of EQT Partners AB and EQT Fund Management S.à r.l.