Equity investments in JSW Cement Ltd. and Global Schools Group to Fuel Growth Plans
Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) announced that funds within its Hybrid Value strategy have committed to investments in two leading Asian businesses, JSW and Global Schools Group (“GSG”).
Certain funds managed by Apollo affiliates have entered into definitive agreements to invest $100 million in JSW Cement Ltd. (“JSW Cement”), one of India’s leading cement companies, and $155 million in Global Schools Group (“GSG”), a premium K12 education network headquartered in Singapore. These extend the activity of Apollo’s Hybrid Value strategy, which has led more than $7 billion of investment commitments in the past 18 months.
The investments in JSW Cement and GSG are designed to help the businesses execute their respective growth strategies. JSW Cement, one of India’s fastest-growing cement companies, sought a value-added partner to help their expansion in existing geographies. GSG was seeking to invest in high-quality education companies and expand its campus network.
Apollo’s Hybrid Value team was able to respond quickly to these business needs with structured equity solutions which enabled the shareholders and management teams to pursue their goals.
The investments demonstrate how Hybrid Value provides strategic capital to companies, most often in the form of non-control equity and debt capital solutions that are responsive to an organization’s specific needs.
Over the past 18 months, funds within the Hybrid Value strategy have invested (or committed to invest) in market-leading companies across many industries and geographies, including WR Grace, US Acute Care Solutions, Alorica, Albertsons, Expedia and Cimpress for a variety of purposes including M&A, pre-IPO financing, liquidity solutions and growth capital.
Commenting on the investments, Hybrid Value Senior Partner and co-Head Matt Michelini said Hybrid Value is pleased to support JSW Cement and Global Schools Group through our Hybrid Value platform, helping these market leaders to accelerate their growth.
“Our team has had longstanding relationships with the management and shareholders of both companies, and we’re excited to continue to support these businesses. These specific investments also highlight our continued focus on expanding Apollo’s presence in Asian markets,” said Matt Michelini.
Hybrid Value Senior Partner and co-Head Rob Ruberton added these investments show how Hybrid Value continues to strategically partner with shareholders and management teams to structure bespoke capital solutions to help achieve their strategic goals.
“We believe our sector expertise, global presence and extensive relationships position us to act as a value-add capital provider to a wide array of public and private companies, and find attractive investment opportunities, said Rob Ruberton.
Apollo’s $12.5 billion Hybrid Value business operates on an integrated basis with the firm’s Private Equity and Credit teams to take advantage of Apollo’s broad industry and structuring expertise. As demonstrated by its recent investments in JSW and GSG, the business can invest in scale and with speed, and borrowers can benefit from Apollo’s global network of resources and track record of value creation.
Apollo is a high-growth, global alternative asset manager. The company seeks to provide clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid and opportunistic.
Through Apollo’s investment activity across fully integrated platform, the company serves the retirement income and financial return needs of clients, and offers innovative capital solutions to businesses.
Apollo‘s patient, creative, knowledgeable approach to investing aligns clients, businesses we invest in, employees and the communities it impact, to expand opportunity and achieve positive outcomes. As of March 31, 2021, Apollo had approximately $461 billion of assets under management.