Pension fund drops NY lawsuit against Apollo and Athene - Insurance Insider When used in this press release, the words believe, anticipate, estimate, expect, intend, may, will, could, should, might, target, project, plan, seek, continue and similar expressions are intended to identify forward-looking statements. Siddiqui worked at Goldman Sachs Group Inc GS.N and Oak Hill Capital Partners before joining Apollo. The lawsuit is ongoing. You can still enjoy your subscription until the end of your current billing period. Pension fund drops NY lawsuit against Apollo and Athene (212) 822-0491. Firm claims ex-workers helped others form competing business, Suit is part of continuing fight with Caldera founder Siddiqui. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to Apollos dependence on certain key personnel, Apollos ability to raise new Apollo funds, the impact of COVID-19, the impact of energy market dislocation, market conditions, and interest rate fluctuations, generally, Apollos ability to manage its growth, fund performance, the variability of Apollos revenues, net income and cash flow, Apollos use of leverage to finance its businesses and investments by Apollo Funds, Athenes ability to maintain or improve financial strength ratings, the impact of Athenes reinsurers failing to meet their assumed obligations, Athenes ability to manage its business in a highly regulated industry, changes in Apollos regulatory environment and tax status, litigation risks and Apollos ability to recognize the benefits expected to be derived from the Merger. Whether we own it forever or not isn't the point.". Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. NEW YORK (Reuters) - Apollo Global Management LLC APO.N and billionaire co-founder Leon Black said on Monday they have uncovered proof that a former executive suing them for $1.5 billion stole confidential information as he prepared to bolt the private equity firm and compete with it. To learn more, please visit www.apollo.com. We publish a variety of newsletters featuring breaking news, deal analyses, people moves and the stories behind the headlines. Apollo has been getting paid lucrative fees by Athene, in which it currently holds a 27% stake. Log in to keep reading or access research tools. Apollo buying Athene in $11B deal; COVID-19 class action allowed to Apollo said it estimated the tax-free combination could result in its earnings in 2021 more than doubling year-on-year. Athene has since become a large U.S. annuity provider, with net income nearly doubling last year to $1.45 billion. Apollo Completes Merger with Athene and Finalizes Key Follow her on Twitter at @agarfinks and on LinkedIn. In March, Rowan reassured investors that Athene wasn't at risk of a run similar to those seen at regional banks in the aftermath of Silicon Valley Bank's collapse. Global Head of Corporate Communications, Apollo. And that trend has continued in 2023 so far. Apollo's Athene Quietly Settled Harassment Case Against Its CEO Under the terms of the deal, each outstanding Class A common share of Athene will be exchanged for a fixed ratio of 1.149 shares of Apollo common stock. The Apollo-Athene Merger Will Unlock Value - SeekingAlpha trending Apollo Global Management has been accused of "looting" its affiliated life insurance company, Athene Holding, in an investor lawsuit targeting "exorbitant" payments that account for one-third. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. Apollo Asset Management will continue to be led day-to-day by its Co-Presidents