Wednesday, 1 April 2015
Last updated 1 hour ago
Apr 29 2014 | 12:45pm ET
Apollo Global Management is set to become the first private-equity firm to pay out partner profits in the form of shares.
Apollo, one of just a few publicly-listed p.e. firms, plans to introduce the new scheme on its flagship fund. Partners working on the vehicle will receive some of their share of profits in Apollo stock, rather than entirely in cash, as is the firm’s practice now.
The stock awards will not vest until three years after Apollo exits the investment that earned the partner his or her commission, the New York Post reports. And if an employee is fired, even without cause, the profit share will not automatically vest.
The new rule will not cover Apollo’s three top partners, Leon Black, Joshua Harris or Marc Rowan, because each already owns a substantial stake in the New York-based firm.
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…