Apollo Global Management Announces Pricing of Public Offering of Common Stock

NEW YORK--(BUSINESS WIRE)--Apollo Global Management, LLC (together with its subsidiaries, “Apollo”) today announced that its underwritten public offering of Class A shares was priced at $19 per share. The offering included a total of 29,757,559 Class A shares, including 21,500,000 Class A shares offered by Apollo as well as 8,257,559 Class A shares offered by certain Class A shareholders. None of Apollo’s management, employees, affiliates, or Strategic Investors is selling shares in this offering. Apollo has granted to the underwriters of the Class A shares offering an option to purchase up to 4,463,633 shares of additional Class A shares, exercisable within 30 days after today’s date. Apollo intends to use the net proceeds it receives from this offering of Class A shares for general corporate purposes and to fund growth initiatives. Apollo will not receive any proceeds from the sale of Class A shares by any selling shareholders.

The offering is being made under Apollo’s registration statement on Form S-1 filed with the Securities and Exchange Commission. The joint book-running managers for the offering are Goldman, Sachs & Co., J.P. Morgan, BofA Merrill Lynch, Citi, Credit Suisse, Deutsche Bank Securities and UBS Investment Bank. The co-managers for the offering are Barclays Capital, Morgan Stanley and Wells Fargo Securities.

This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor does it constitute an offer, solicitation or sale of these securities in any jurisdiction in which such offer, solicitation or sale is unlawful. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained from Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: [phone], facsimile: 212-902-9316, or by emailing [e-mail], from J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by calling 866-803-9204 or from BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department, or email [e-mail].

About Apollo Global Management

Apollo is a global alternative asset manager with offices in New York, Los Angeles, London, Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. Apollo had assets under management of over $67 billion as of December 31, 2010, in private equity, credit-oriented capital markets and real estate funds invested across a core group of nine industries.

Forward-Looking Statements

This press release may contain statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission in its rules, regulations and releases. These statements include, but are not limited to, discussions related to Apollo’s expectations regarding the performance of its business, its liquidity and capital resources and the other non-historical statements in the discussion and analysis. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this release, the words “believe,” “anticipate,” “estimate,” “expect,” “intend” and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to our dependence on certain key personnel, our ability to raise new Private Equity, Capital Markets or Real Estate funds, market conditions, generally, our ability to manage our rapid growth, fund performance, changes in our regulatory environment and tax status, the variability of our revenue, net income and cash flow, our use of leverage to finance our businesses and investments by our funds and litigation risks, among others.