What Apollo Got From Merging With Athene
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In January, Apollo completed an $11 billion all-stock merger with Athene, increasing its stake in the insurer. Apollo anticipates its assets under management to double to $1 trillion by 2026, largely due to the merger. The assets are appealing to Apollo Insurance, offering more investment options. Athene, a major holder of fixed annuities, provides steady fee income. The merger simplifies Apollo's governance by adopting a one-share-one-vote plan, potentially leading to its inclusion in the S&P 500.
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What type of income does Athene provide to Apollo?
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What is the hope regarding Apollo's inclusion in the S&P 500?
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