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65-651: Apollo Global Management, Inc. is an American asset management firm that primarily invests in alternative assets . As of 2022, the company had $ 548 billion of assets under management, including $ 392 billion invested in credit, including mezzanine capital , hedge funds , non-performing loans , and collateralized loan obligations , $ 99 billion invested in private equity , and $ 46.2 billion invested in real assets, which includes real estate and infrastructure . The company invests money on behalf of pension funds , financial endowments , and sovereign wealth funds , as well as other institutional and individual investors. Apollo

130-746: A Form S-1 with the U.S. Securities and Exchange Commission in preparation for an IPO on the New York Stock Exchange . In May 2008, Apollo invested in Vantium, a company that buys residential mortgage assets as part of a strategy to profit from the United States housing market correction . In July 2008, the company closed a $ 758 million value-add fund. Also in 2008, Apollo opened an office in India , its first office in Asia. During

195-466: A $ 1.2 billion market value collateralized debt obligation vehicle . Ares I and II which were raised were structured as market value CLOs . Ares III-Ares X were structured as cash flow CLOs . In 2002, Ares completed a corporate spin-off from Apollo management. Although technically the founders of Ares had completed a spinout with the formation of the firm in 1997, they had maintained a close relationship with Apollo over its first five years and operated as

260-551: A $ 2 billion vehicle in Europe, AP Alternative Assets. It was a Guernsey -domiciled publicly traded, private-equity closed-end, limited partnership , managed by Apollo Alternative Assets, an affiliate of Apollo Management. Apollo initially attempted to raise $ 2.5 billion for the public vehicle, but fell short when it offered the shares in June 2006, raising only $ 1.5 billion. Apollo raised an additional $ 500 million via private placements in

325-478: A 31% interest. In December 2009, Apollo announced the acquisition of Cedar Fair Entertainment Company for $ 635 million and assumed debt valuing the company at $ 2.4 billion. In April 2010, the deal was terminated due to poor shareholder response. In January 2011, Apollo acquired 51% of Alcan Engineered Products from Rio Tinto Group . On March 29, 2011, Apollo became a public company via an IPO. In June 2011, Apollo acquired CKx. In March 2012, Apollo acquired

390-410: A US-domiciled publicly traded , private-equity, closed-end fund and Business Development Company . AIC provides mezzanine debt , senior secured loans , and equity investments to middle-market companies , including public companies, although it historically has not invested in companies controlled by Apollo's private-equity funds. Apollo, originally referred to as Apollo Advisors, was founded after

455-420: A consortium of other international investors provided the capital for Lion's investment activities. Lion Advisors was replaced by Ares Management . At the time of Apollo's founding, little financing was available for new leveraged buyouts and Apollo turned, instead, to a strategy of distressed-to-control takeovers. Apollo purchased distressed securities , which could be converted into a controlling interest in

520-646: A former ski instructor who was recently the mayor of the Town of Vail, and Mark Smith, a real estate broker/turned developer who currently also runs East West Partners with Harry Frampton, who was the former President of Vail Associates and currently owns East West Partners. East West Partners has built most of the large buildings that make up the Beaver Creek Village, including the Marketplace Building, Village Hall , and One Beaver Creek. This

585-438: A franchisor that owns Coldwell Banker, Century 21, and Sotheby's International Realty, for $ 8.5 billion. As the United States housing market correction accelerated in 2008, Realogy faced financial pressures due to its debt load. In November 2008, Realogy launched an exchange offer for a portion of its debt to provide additional flexibility, prompting a lawsuit from Carl Icahn . In 2013, Apollo sold out of this investment, making

650-512: A listed business development company , Apollo Investment Corporation. In September 2004, investment funds managed by Apollo and Sterling Partners acquired Connections Academy . It was sold in 2011 for $ 400 million. In 2005, Apollo formed Hexion Specialty Chemicals through the merger of Borden, Inc. , Resolution Performance Products LLC, and Resolution Specialty Materials, LLC, and the acquisition of Bakelite AG. Hexion announced in July 2007 that it

715-609: A profit of $ 1.3 billion. In May 2007, Apollo acquired Countrywide plc , a provider of residential property-related services in the UK, formerly known as Hambro Countrywide (1988) and Countrywide Assured Group (1998) for $ 1.05 billion (not related to Countrywide Financial ). In November 2007, the company sold 9% of itself to the Abu Dhabi Investment Authority . In January 2008, Apollo and TPG Capital acquired Harrah's Entertainment for $ 27.4 billion, including

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780-429: A prominent lieutenant of Michael Milken and a key player in the buyout boom of the 1980s . Lion Advisors (or Lion Capital) was founded in 1990 to provide investment services to Credit Lyonnais and foreign institutions, seeking to profit from depressed prices in the high-yield market. In 1992, Lion entered into a more formal arrangement to manage the $ 3 billion high-yield portfolio for Credit Lyonnais which together with

845-582: A purchase of newer hardware. Large companies such as Oracle , that license software to clients distinguish between the right to use and the right to receive maintenance/support. Vail Resorts Vail Resorts, Inc. is an American mountain resort company headquartered in Broomfield, Colorado . The company is divided into three divisions. The mountain segment owns and operates 42 mountain resorts in four countries. Vail Resorts Hospitality owns or manages hotels, lodging, condominiums, and golf courses, and

910-521: A structure of this sort is directly connected to local governance. Enterprise asset management (EAM) systems are asset information systems that support the management of an organization's assets. An EAM includes an asset registry (inventory of assets and their attributes) combined with a computerized maintenance management system (CMMS) and other modules (such as inventory or materials management). Assets that are geographically distributed, interconnected or networked, are often also represented through

975-869: Is a growing specialist engineering discipline, with many international technical societies now established to advance knowledge in this area, including the Engineers Australia technical society of the Asset Management Council (AMC), the World Partners in Asset Management (WPiAM), Society for Maintenance and Reliability Professionals (SMRP), the Institute of Asset Management (IAM), the International Society of Engineering Asset Management (ISEAM), and

1040-682: Is a term synonymous with physical and infrastructure asset management, it is used to describe management of more complex physical assets which require the application of specialist asset management engineering methods over their life-cycles in order to maximize value for their owners, whilst keeping risk to an acceptable level. SAM is a sub-discipline of IT asset management . The International Organization for Standardization published its management system standard for asset management in 2014. The ISO 55000 series provides terminology, requirements, and guidance for implementing, maintaining and improving an effective asset management system. The key to forming

1105-400: Is commonly used in engineering, the business world, and public infrastructure sectors to ensure a coordinated approach to the optimization of costs, risks, service/performance, and sustainability. The term has traditionally been used in the financial sector to describe people and companies who manage investments on behalf of others. Those include, for example, investment managers who manage

1170-409: Is part of a financial company that employs experts who manage money and handle the investments of clients. This is done either actively or passively. Physical and Infrastructure asset management is the combination of management, financial, economic, engineering, and other practices applied to physical assets to provide the best value level of service for the costs involved. It includes the management of

1235-501: Is reportedly the largest Trek bicycle dealer in the world. Vail Resorts also owns just over 50% of Slifer Smith and Frampton (SSF), the largest real estate brokerage company in the Vail region, controlling over 70% of the real estate transactions in the market. Slifer, Smith, and Frampton were called Slifer, Smith, and Frampton/Vail Associates Real Estate, but they dropped the "Vail Associates" name in 2003. The founders of SSF are Rod Slifer,

1300-536: Is separate from East West Resorts, a separate property management group. Vail Resorts Development Company (VRDC) is the wholly-owned real estate development company that Vail Resorts uses to develop all of its company-owned real estate, other than the projects East West Partners develops. VRDC developed Bachelor's Gulch, one of the business's most upscale ski-in/ski-out resorts, with its own Ritz Carlton and just over 100 slopeside mansions. President Gerald Ford kept his ski house between Beaver Creek and Bachelor's Gulch in

1365-873: The Vail , Beaver Creek , Breckenridge , Keystone , and Crested Butte ski areas in Colorado, and Northstar California , Kirkwood Mountain Resort , and Heavenly Mountain Resort on the California-Nevada border. In British Columbia, Canada, they also acquired the largest ski resort in North America: Whistler Blackcomb . Vail Resorts offers a variety of multi-resort season passes under the Epic Pass program. The Epic Pass also has partnerships that allow access to several other resorts in

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1430-574: The financial crisis of 2007–2008 , several of Apollo's investments came under pressure. Apollo's 2005 investment in the struggling US retailer Linens 'n Things suffered from a significant debt burden and softening consumer demand. In May 2008, Linens filed for bankruptcy protection, costing Apollo all of its $ 365 million investment in the company. In 2009, the company was sued by a noteholder claiming mismanagement. Apollo exercised its " PIK toggle " option at Claire's to shut off cash interest payments to its bondholders and instead issue more debt, to provide

1495-565: The "next great ski mountain." Siebert set off to secure financing, and Eaton engineered the early lifts. Their Vail ski resort opened in 1962. George N. Gillett Jr. purchased Vail Associates in 1985. Vail Associates changed its name to Vail Resorts and went public in 1997 after Gillett Holdings went bankrupt. Apollo Management , headed by Leon Black , bought the company out of bankruptcy and took Vail Resorts public, controlling Vail Resorts until 2003, when Apollo divested itself of controlling interest. The skating rink at Beaver Creek, Colorado ,

1560-566: The $ 3.1 billion leveraged buyouts of costume jewelry retailer Claire's Stores. In 2008, Claire's experienced financial difficulty amid the slump in consumer spending. In April 2007, Apollo acquired Noranda Aluminum , the US aluminum business of Xstrata for $ 1.15 billion. Noranda Aluminum includes a primary smelter and three rolling mills in Tennessee, North Carolina, and Arkansas along with other operations. In April 2007, Apollo acquired Realogy ,

1625-882: The Beaver Creek Club, the Arrowhead Alpine Club, and the Game Creek Club (in Vail). VRDC also developed Red Sky Ranch in Wolcott (approximate 10 miles (16 km) west of Beaver Creek), which includes two golf courses and many million dollar golf course homes. These clubs are now operated by the "Mountain Division" of Vail Resorts. Vail Resorts operates 42 ski resorts in the United States, Canada, Australia and Switzerland including, notably,

1690-608: The Gart Brothers, specifically Tom Gart, Ken Gart, and John Gart. The Gart family has been in the sporting goods business for three generations and was the former owner of Gart Sports, a large chain of sporting goods stores in the western US. Gart Sports was sold by the Gart family in the 1990s and then recently sold again to Sports Authority , which discontinued the use of the Gart Sports name in 2006. In 2010, Vail completed

1755-845: The Global Forum on Maintenance and Asset Management (GFMAM). Engineering asset management is a more recent term that is used to describe the management of complex physical assets, a specific engineering practice that is concerned with optimizing assets, in the context of the organizations goals and objectives, through using multidiscipline engineering methodologies, and Terotechnology (which includes management, engineering, and financial expertise), to balance cost, risk, and performance. Engineering asset management includes multiple engineering disciplines, including but not limited to maintenance engineering , systems engineering , reliability engineering , process safety management , industrial engineering , and risk analysis . Engineering asset management

1820-497: The State of California over its purchase of Executive Life Insurance Company in 1991. The same year, Attorney General of California Bill Lockyer accused Leon and an investor group led by French bank Credit Lyonnais of violating California law by having a foreign government-owned bank acquire the assets and bond portfolio of Executive Life Insurance. In April 2004, Apollo raised $ 930 million through an initial public offering for

1885-487: The Strawberry Park section of Beaver Creek. Arrowhead is the third "peak" in the heavily promoted "village to village ski experience" in which you can ski from Beaver Creek to Bachelor's Gulch to Arrowhead and back again. Arrowhead was a separate ski area unrelated to Beaver Creek for years before Vail Associates finally bought them in the early 1990s. VRDC also developed the "club" division of Vail Resorts, including

1950-465: The U.S. government's Resolution Trust Corporation . One of Apollo's earliest and most successful deals involved the acquisition of Executive Life Insurance Company's bond portfolio. Using this vehicle, Apollo purchased the Executive Life portfolio, profiting when the value of high-yield bonds recovered, but also resulting in a variety of state regulatory issues for Apollo and Credit Lyonnais over

2015-554: The Vail Resorts Development Company oversees property development and real estate holdings. Vail Resorts was founded as Vail Associates Ltd. by Pete Seibert and Earl Eaton in the early 1960s. Eaton, a lifelong resident, led Siebert (a former WWII 10th Mountain Division ski trooper) to the area in March 1957. They both became ski patrol guides at Aspen, Colorado , when they shared their dream of finding

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2080-550: The Vail's pass structure caters to wealthy international pass holders and reduces access to nearby residents; additionally, residents have seen their cost-of-living increase following Vail's takeovers. In 2001, Vail Resorts acquired the luxury hotel chain RockResorts , contributing substantially to its brand recognition. RockResorts was named after its original owners, the Rockefeller Family . As of January 2017,

2145-460: The West Coast affiliate of Apollo. Shortly thereafter, Ares completed fundraising for Ares Corporate Opportunities Fund, a special-situations investment fund with $ 750 million of capital under management. In 1998, during the dot-com bubble , Apollo raised Apollo Investment Fund IV with $ 3.6 billion of investor commitments. As of April 8, 2008, the fund had generated a 10% IRR net of fees. Among

2210-638: The acquisition of the Smart & Final chain of warehouse-style food and supply stores. In June 2007, Smart & Final completed the acquisition of the Henry's Marketplace chain of " farmers market " style food retailers from Wild Oats Markets as part of that company's acquisition by Whole Foods Market . In 2011, the Henry's chain was merged with Sprouts Farmers Market , which, like the Henry's markets, had been founded by Henry Boney. In March 2007, Apollo announced

2275-463: The assets of a pension fund . The ISO 55000 series of standards, developed by ISO TC 251 , are the international standards for Asset Management. ISO 55000 provides an introduction and requirements specification for a management system for asset management. The ISO 55000 standard defines an asset as an "item, thing or entity that has potential or actual value to an organization". ISO 55001 specifies requirements for an asset management system within

2340-702: The assumption of existing debt. In January 2008, Apollo invested $ 1 billion in Norwegian Cruise Line to support a recapitalization of the company's balance sheet. In December 2018, Apollo cashed out of this investment. In February 2008, Apollo acquired Regent Seven Seas Cruises from Carlson Companies for $ 1 billion. Following the purchase, Apollo ordered a new ship for Regent. In April 2008, Apollo, TPG Capital , and The Blackstone Group acquired $ 12.5 billion of bank loans from Citigroup . The portfolio comprised primarily senior secured loans that had been made to finance leveraged-buyout transactions at

2405-484: The business Verso Paper. Verso is the second-largest producer of the North American magazine publishing and catalog/commercial print markets. In May 2008, Verso became a public company via an IPO. In February 2007, Apollo acquired Oceania Cruises for $ 850 million and provided additional capital to fund the expansion of the company with the purchase of two new cruise ships.! In February 2007, Apollo announced

2470-765: The buyout of the Specialty Sports Venture brand and is now the 100% owner of all SSV operations. In addition to all of the ski shops in the Vail Resorts portfolio of ski areas, the SSV chain of stores includes Bicycle Village in Denver, Colorado Ski & Golf, Boulder Ski Deals, Aspen Sports, Telluride Sports, and Mountain Sports Outlet in Summit County and Glenwood Springs and many others. SSV

2535-564: The collapse of Drexel Burnham Lambert in 1990 by Leon Black , the former head of Drexel's mergers and acquisitions department, along with Josh Harris and Marc Rowan . Tony Ressler , another former senior Drexel executive, was also among the firm's original members. Within six months after the collapse of Drexel, Apollo launched Apollo Investment Fund L.P., the first of its private-equity investment funds, formed to make investments in distressed companies. Apollo raised around $ 400 million of investor commitments based on Leon Black's reputation as

2600-429: The company with additional financial flexibility. In December 2008, Apollo completed fundraising for its latest fund, Apollo Investment Fund VII, with roughly $ 14.7 billion of investor commitments. Apollo had been targeting $ 15 billion, but had been in fundraising for more than 16 months, with the bulk of the capital raised in 2007. In November 2009, Liberty Global acquired Unity Media GMBH; funds managed by Apollo owned

2665-467: The constraints upon such licenses, e.g. a period. If, for example, one licenses software, often the license is for a given period. Adobe and Microsoft both offer time-based software licenses. In both the corporate and consumer worlds, there is a distinction between software ownership and the updating of software. One may own a version of the software, but not newer versions of the software. Cellular phones are often not updated by vendors, in an attempt to force

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2730-404: The context of the organization, and ISO 55002 gives guidelines for the application of an asset management system, in accordance with the requirements of ISO 55001. The most frequent usage of the term portfolio manager (asset manager) refers to investment management , the sector of the financial services industry that manages investment funds and segregated client accounts . Asset management

2795-458: The definition of enterprise asset management (EAM) by incorporating the management of all things of value to a municipal jurisdiction and its citizens' expectations. An example in which public asset management is used is land-use development and planning. Increasingly both consumers and organizations use assets, e.g. software, music, books, etc. where the user's rights are constrained by a license agreement. An asset management system would identify

2860-428: The entire life cycle—including design, construction, commissioning, operating, maintaining, repairing, modifying, replacing, and decommissioning/disposal—of physical and infrastructure assets. Operation and maintenance of assets in a constrained budget environment require a prioritization scheme. As a way of illustration, the recent development of renewable energy has seen the rise of effective asset managers involved in

2925-461: The equity of the company through a bankruptcy reorganization or other restructuring. Apollo used distressed debt as an entry point, enabling the firm to invest in such firms as Vail Resorts , Walter Industries , Culligan , and Samsonite . Apollo acquired interests in companies that Drexel had helped finance by purchasing high-yield bonds from failed savings and loans and insurance companies. Apollo acquired several large portfolios of assets from

2990-426: The firm to found Pegasus Capital Advisors. Since its inception, Pegasus has raised $ 1.8 billion in four private-equity funds focused on investments in middle-market companies in financial distress. In 1997, Ares Management was founded by Antony Ressler and John H. Kissick, both partners at Apollo, as well as Bennett Rosenthal, who joined the group from the global leveraged finance group at Merrill Lynch , to manage

3055-436: The founders of Ares had completed a corporate spin-off with the formation of the firm in 1997, they had initially maintained a close relationship with Apollo and operated as the West Coast affiliate of Apollo.. In 2002, when Ares raised its first corporate opportunities fund, the firm announced that it would separate from its former parent company. The timing of this separation also coincided with Apollo's legal difficulties with

3120-487: The fund had generated a 54% IRR net of fees. Among the investments made in Fund V (invested through 2006) were Affinion Group , AMC Entertainment , Berry Plastics , Cablecom , Compass Minerals , General Nutrition Centers (GNC), Goodman Global, Hexion Specialty Chemicals ( Borden ), Intelsat , Linens 'n Things , Metals USA, Nalco Investment Holdings , Sourcecorp, Spectrasite Communications , and Unity Media. Although

3185-472: The investments made in Fund III (invested through 1998) were: Alliance Imaging, Allied Waste Industries , Breuners Home Furnishings , Levitz Furniture , Communications Corporation of America , Dominick's , Ralphs (acquired Apollo's Food-4-Less ), Move.com , NRT Incorporated , Pillowtex Corporation , Telemundo , and WMC Mortgage Corporation . Also in 1995, Apollo's founding partner Craig Cogut left

3250-633: The investments made in Fund IV (invested through 2001) were: Allied Waste Industries , AMC Entertainment , Berlitz International , Clark Retail Enterprises, Corporate Express ( Buhrmann ), Encompass Services Corporation, National Financial Partners, Pacer International , Rent-A-Center , Resolution Performance Products , Resolution Specialty Materials , Sirius Satellite Radio , SkyTerra Communications, United Rentals , and Wyndham Worldwide . In April 2001, Apollo raised Apollo Investment Fund V with $ 3.7 billion of investor commitments. As of April 8, 2008,

3315-491: The management of solar systems (solar parks, rooftops, and windmills). These teams often collaborate with financial asset managers in order to offer turnkey solutions to investors. Infrastructure asset management became very important in most of the developed countries in the 21st century, since their infrastructure network was almost completed in the 20th century and they have to manage to operate and maintain them cost-effectively. Physical, or Infrastructure Asset Management

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3380-399: The peak of the market. Citigroup had been unable to syndicate the loans before the onset of the credit crunch. The loans were reported to have been sold in the "mid-80 cents on the dollar" relative to face value. In late 2008, Apollo received margin calls associated with the financing of its purchase of certain loan portfolios as the values of the loans decreased. In April 2008, Apollo filed

3445-425: The private equity market was booming. Among Apollo's most notable investments during this period were Harrah's Entertainment , Norwegian Cruise Line , Claire's Stores , and Realogy . In 2006, Apollo acquired Rexnord Corporation for $ 1.825 billion, Berry Plastics for $ 2.25 billion, Momentive Performance Materials for approximately $ 3.8 billion, and TNT N.V. for $ 1.9 billion. In August 2006, Apollo launched

3510-468: The properties include: The Pines Lodge at Beaver Creek, CO The Lodge at Vail, CO The Osprey at Beaver Creek, CO The Arrabelle at Vail Square, CO One Ski Hill Place at Breckenridge Ski Resort The Grand Summit Hotel in Park City Utah All of the company's retail operations are run by a smaller company, [Vail Resorts Retail, VRR], of which Vail owns 70%. The owners of the other 30% are

3575-508: The purchase. In 1993, Apollo Real Estate Advisers was founded in collaboration with William Mack to seek opportunities in the U.S. property markets. In April 1993, Apollo Real Estate Investment Fund, L.P., the first in a family of real estate "opportunity funds", was closed with $ 500 million of investor commitments. In 2000, Apollo exited the partnership, which continued to operate as Apollo Real Estate Advisers until changing its name to AREA Property Partners effective January 15, 2009. That firm

3640-494: The quarter despite the stabilizing effect of its Epic Pass program, which allows customers to purchase a season pass for its North American resorts at a significant upfront cost. However, Vail's stock price has declined by 50% since its October 2021 peak of $ 360. While this past winter was one of the warmest on record for the company, concerns exist that future winters may even be warmer. Some of Vail Resort's acquisitions have fueled anger among local residents. Locals complain that

3705-653: The typical physical assets or infrastructure assets, the soft assets might include permits, licenses, brands, patents, right-of-ways, and other entitlements or valued items. The EAM system is only one of the 'enablers' of good asset management. Asset managers need to make informed decisions to fulfill their organizational goals, this requires good asset information but also leadership, clarity of strategic priorities, competencies, inter-departmental collaboration and communications, workforce, and supply chain engagement, risk and change management systems, performance monitoring, and continual improvement. Public asset management expands

3770-415: The unprofitable Great Wolf Resorts for $ 703 million. In November 2012, Apollo acquired McGraw-Hill Education for $ 2.5 billion. In 2013, Apollo acquired Pitney Bowes Management Services (PBMS) for $ 400 million. From PBMS, Apollo formed Novitex Enterprise Solutions. Novitex is a document-outsourcing provider that manages business-critical services for over 500 companies across 10 industries. In 2017, it

3835-403: The use of geographic information systems (GIS) . GIS-centric asset registry standardizes data and improves interoperability, providing users the capability to reuse, coordinate, and share information efficiently and effectively. A GIS platform combined with information of both the "hard" and "soft" assets helps to remove the traditional silos of departmental functions. While the hard assets are

3900-495: The weeks following that sale. AAA was formed to invest alongside Apollo's main private-equity funds and hedge funds. AAA's investment portfolio was made up of a mix of private-equity and capital-markets investments. It was liquidated in 2020. In October 2006, Apollo announced a $ 990 million leveraged buyout of Jacuzzi Brands , a manufacturer of whirlpool baths. In 2006, Apollo acquired International Paper 's coated paper and supercalendered paper business for $ 1.4 billion, renaming

3965-461: Was acquiring Huntsman Corporation , a major specialty-chemicals company, in a $ 6.5 billion leveraged buyout. Hexion announced in June 2008 it would refuse to close the deal, prompting a series of legal actions. The transaction was terminated in December after a settlement between Hexion and Huntsman, wherein they were required to pay Huntsman $ 1 billion to drop fraud charges. Between 2005 and 2007,

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4030-821: Was founded in 1990 by Leon Black , Josh Harris , and Marc Rowan , former investment bankers at the defunct Drexel Burnham Lambert . The company is headquartered in the Solow Building in New York City , with offices across North America, Europe, and Asia. Among the most notable companies in which funds managed by the company have invested are ADT Inc. , CareerBuilder , Cox Media Group , Intrado , Legendary Entertainment , Rackspace Technology , Redbox , Shutterfly , Sirius Satellite Radio , Qdoba , Smart & Final , The Restaurant Group , University of Phoenix , and Yahoo Inc. In addition to its private funds, Apollo operates Apollo Investment Corporation (AIC),

4095-412: Was merged into Exela Technologies . On March 11, 2013, Apollo Global Management made the only bid for the snacks business of Hostess Brands , including Twinkies , for $ 410 million. Asset Management Theory of asset management primarily deals with the periodic matter of improving, maintaining or in other circumstances assuring the economic and capital value of an asset over time. The term

4160-718: Was named the Black Family Skating Rink after Leon Black. Rob Katz, a former executive at Apollo, ran Vail Resorts as CEO until November 2021, when he was appointed executive chairperson of the board. Kirsten Lynch, the company's former chief marketing officer, then took over as CEO. In June 2024, Vail Resorts reported lower-than-expected revenue during the February-April quarter due to a significantly warmer-than-anticipated winter across western North American resorts, with snowfall 28% lower than average. The company generated $ 1.28 billion in revenue during

4225-515: Was then owned and controlled by its remaining principals, including William Mack, Lee Neibart, William Benjamin, John Jacobsson, Stuart Koenig, and Richard Mack. In 1995, Apollo raised its third private-equity fund, Apollo Investment Fund III, with $ 1.5 billion of investor commitments from investors that included CalPERS and the General Motors pension fund. Fund III was only an average performer for private-equity funds of its vintage. Among

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