Physician Owners of GI Alliance Management LLC, led by James Weber, Managing Director and Chief Executive Officer and an unknown Apollo Hybrid Value fund, managed by Apollo Global Management, Inc. completed the acquisition of an unknown minority stake in GI Alliance Management LLC from Waud Capital Partners, L.L.C. for approximately $790 million.
September 14, 2022
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Physician Owners of GI Alliance Management LLC, led by James Weber, Managing Director and Chief Executive Officer and an unknown Apollo Hybrid Value fund, managed by Apollo Global Management, Inc. (NYSE:APO) agreed to acquire an unknown minority stake in GI Alliance from Waud Capital Partners, L.L.C. on August 19, 2022. The transaction values GI Alliance at $2.2 billion. The physician owners currently own approximately 70% of GI Alliance. Blackstone & Ally led the lender group providing committed debt financing for the transaction. Upon the closing of the transaction, Scheir and Apollo Principal Anton Finucane-Courreges will join the GI Alliance Board of Directors. The transaction is subject to the satisfaction of customary closing conditions and is expected to close in Q3 2022. John Miller, Neal Reenan, Ian Bushner, Stephanie Teicher, Stelios Saffos, Kendra Kocovsky, Katharine Moir, Betty Pang, Heather Deixler, Jennifer Pepin, Katherine Rocco, Sarah Gagan, Robert Buday, James Barrett and Joseph Bargnesi of Latham & Watkins LLP and Houlihan Lokey acted as legal counsels and financial advisor, respectively, to the Apollo Funds. Jefferies acted as lead financial advisor to GI Alliance and its shareholders. Greenhill & Co. acted as lead financial advisor to management and physician owners of GI Alliance. Kirkland & Ellis LLP and Katten Muchin Rosenman LLP served as legal advisors to WCP and GI Alliance, respectively.
Physician Owners of GI Alliance Management LLC, led by James Weber, Managing Director and Chief Executive Officer and an unknown Apollo Hybrid Value fund, managed by Apollo Global Management, Inc. (NYSE:APO) completed the acquisition of an unknown minority stake in GI Alliance from Waud Capital Partners, L.L.C. for approximately $790 million on September 15, 2022.
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.
Physician Owners of GI Alliance Management LLC, led by James Weber, Managing Director and Chief Executive Officer and an unknown Apollo Hybrid Value fund, managed by Apollo Global Management, Inc. completed the acquisition of an unknown minority stake in GI Alliance Management LLC from Waud Capital Partners, L.L.C. for approximately $790 million.
APOLLO GLOBAL MANAGEMENT, INC. 
