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August 2010 
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Apollo Inches Closer To NYSE Listing |
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Claire Spencer, November 2009 |
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(24 November 2009)
US private equity firm Apollo Global Management has announced that its revenues increased in the third quarter, moving it one step closer to a listing on the New York Stock Exchange (NYSE). This is according to a Reuters report, which cites a regulatory filing from the firm.
The figures revealed a turnaround in income and revenues. Revenue for Q3 2009 was $213.7m, compared with a $310.3m loss in the same period in 2008.
However, the report adds that the firm has taken a hit on one of its largest funds – the $10.5bn Fund VI – since the financial crisis broke.
The fund had a net internal rate of return of 21 percent at the close of Q1 2009, but zero percent at the end of Q3 2009, reveals the filing.
The fund has also returned more than $2.4bn to investors, it says.
The data is part of an updated filing Apollo made with the SEC, with regards to its planned move to the NYSE, explains the report. Apollo originally filed to register securities already traded on a private exchange, with the eventual goal of listing them on the NYSE. The latest filing indicates that this plan is now back on track.
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