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Apollo (APO), Phoenix Partner for Global Origination Platform
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Apollo Global Management (APO - Free Report) has collaborated with Phoenix Holdings Ltd., a leading Israel-based insurance, asset management and financials group, for the deployment and co-investment of Phoenix client and corporate assets.
This initiative is part of both company’s ongoing joint effort and will enable Phoenix to participate in up to $2 billion of investments as a strategic partner for Apollo in Israel. This collaboration provides access to the high-quality and privately-originated global credit opportunities to Phoenix.
For Apollo, the agreement with Phoenix indicates its strategy of partnering with innovative insurance and financial institutions internationally to offer private fixed income opportunities.
In 2022, APO directly originated around $100 billion of assets, primarily senior, secured lending opportunities. Hence, the partnership will allow Phoenix to leverage on these origination flows, co-investment opportunities and new investment strategies and complement Apollo’s retirement services platforms globally. Moreover, Phoenix and Apollo are eyeing additional investment, savings and insurance collaborative opportunities.
APO’s CEO Marc Rowan remarked, “Phoenix is a leader in the Israeli financial services market and, like Apollo, understands the benefits that high quality, private origination can bring to a retirement services portfolio. We are excited to build upon our work together as Phoenix helps connect its local capital with global investment opportunities.”
Apollo’s co-head of FIG Vishal Sheth stated, “For a decade-plus, we have invested in our expertise and origination platforms in the private investment grade market to successfully serve the needs of our own retirement services balance sheets. We have built scale in these platforms which generate substantial origination volumes and allow us to increasingly serve the needs of third-party insurance and asset management leaders like Phoenix in a manner that is aligned with our own retirement services platforms globally.”
Eyal Ben Simon, CEO of Phoenix Holdings, said, “We are excited to enter this strategic agreement with Apollo as part of our strategy of broadening international cooperation and investment activities by partnering with leading investment managers globally. We know the benefits private fixed income can bring to a portfolio and are active investors in Israel’s private credit market. We expect to grow this relationship over time and are excited by the additional performance and diversification it can bring.”
In the past six months, shares of APO have gained 23.3% compared with the industry’s rise of 1.3%.
Some better-ranked stocks from the same space are Artisan Partners Asset Management (APAM - Free Report) and SEI Investments (SEIC - Free Report) .
APAM’s 2023 earnings estimates have been revised 11.4% upward over the past 30 days. The company’s shares have gained 16.1% in the past six months. Currently, APAM carries a Zacks Rank #2 (Buy).
SEIC’s 2023 earnings estimates have been revised marginally upward over the past 30 days. The company’s shares have gained 1.7% in the past six months. Currently, SEIC carries a Zacks Rank #2.
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Apollo (APO), Phoenix Partner for Global Origination Platform
Apollo Global Management (APO - Free Report) has collaborated with Phoenix Holdings Ltd., a leading Israel-based insurance, asset management and financials group, for the deployment and co-investment of Phoenix client and corporate assets.
This initiative is part of both company’s ongoing joint effort and will enable Phoenix to participate in up to $2 billion of investments as a strategic partner for Apollo in Israel. This collaboration provides access to the high-quality and privately-originated global credit opportunities to Phoenix.
For Apollo, the agreement with Phoenix indicates its strategy of partnering with innovative insurance and financial institutions internationally to offer private fixed income opportunities.
In 2022, APO directly originated around $100 billion of assets, primarily senior, secured lending opportunities. Hence, the partnership will allow Phoenix to leverage on these origination flows, co-investment opportunities and new investment strategies and complement Apollo’s retirement services platforms globally. Moreover, Phoenix and Apollo are eyeing additional investment, savings and insurance collaborative opportunities.
APO’s CEO Marc Rowan remarked, “Phoenix is a leader in the Israeli financial services market and, like Apollo, understands the benefits that high quality, private origination can bring to a retirement services portfolio. We are excited to build upon our work together as Phoenix helps connect its local capital with global investment opportunities.”
Apollo’s co-head of FIG Vishal Sheth stated, “For a decade-plus, we have invested in our expertise and origination platforms in the private investment grade market to successfully serve the needs of our own retirement services balance sheets. We have built scale in these platforms which generate substantial origination volumes and allow us to increasingly serve the needs of third-party insurance and asset management leaders like Phoenix in a manner that is aligned with our own retirement services platforms globally.”
Eyal Ben Simon, CEO of Phoenix Holdings, said, “We are excited to enter this strategic agreement with Apollo as part of our strategy of broadening international cooperation and investment activities by partnering with leading investment managers globally. We know the benefits private fixed income can bring to a portfolio and are active investors in Israel’s private credit market. We expect to grow this relationship over time and are excited by the additional performance and diversification it can bring.”
In the past six months, shares of APO have gained 23.3% compared with the industry’s rise of 1.3%.
Image Source: Zacks Investment Research
Currently, the company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stocks to Consider
Some better-ranked stocks from the same space are Artisan Partners Asset Management (APAM - Free Report) and SEI Investments (SEIC - Free Report) .
APAM’s 2023 earnings estimates have been revised 11.4% upward over the past 30 days. The company’s shares have gained 16.1% in the past six months. Currently, APAM carries a Zacks Rank #2 (Buy).
SEIC’s 2023 earnings estimates have been revised marginally upward over the past 30 days. The company’s shares have gained 1.7% in the past six months. Currently, SEIC carries a Zacks Rank #2.