Thursday, 2 April 2015
Last updated 11 hours ago
Nov 4 2011 | 10:26am ET
Alternative investments giant Apollo Global Management swung to a third-quarter loss—its first quarterly loss as a publicly-traded company.
The New York-based firm said its pretax economic net income, which excludes costs related to its March initial public offering, was a $1.14 billion loss. In the year earlier period, Apollo earned $315.3 million.
Apollo's loss can be almost entirely attributed to its share of its private equity funds' losses on the quarter: The firm's carried interest was a $1.16 billion loss on write-downs of almost $1.4 billion.
The firm's assets under management dropped by more than $6 billion on the quarter to $65.1 billion, despite a $500 million mandate from a sovereign wealth fund it announced yesterday.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…