Apollo and Athene Enter into Strategic Relationship with BNP
Paribas to Launch Eliant Inventory Solutions
Apollo (NYSE: APO) and its subsidiary Athene today announce they
have entered into a strategic relationship with BNP Paribas, a
premier global bank, to provide a dynamic new solutions platform
for working capital and supply chain needs with the establishment
of Eliant Inventory Solutions LP (“Eliant”).
Eliant provides domestic and multinational companies with
strategic and responsive inventory capital solutions to better
optimize their supply chains and balance sheets, and buffer
inventories. For companies, this can mean greater resiliency, fewer
supply chain disruptions and more efficient working capital
management. Eliant is structured to own inventory at an efficient
cost of capital, with a technology platform to seamlessly manage
high-volume and complex customer needs. Eliant launches with strong
customer demand, marked by $1.3 billion in signed or awarded
inventory programs with blue-chip customers.
BNP Paribas, a leader in supply chain and trade finance
solutions with long-standing expertise in the space, will provide
debt and receivables financing as well as structuring advisory and
referral services to Eliant. Athene will serve as the primary
capital provider to Eliant, while Apollo will act as the investment
manager, supporting an in-house team at Eliant that is delivering
customized supply chain inventory solutions to customers across
industries and geographies.
Apollo Partner Ephraim Rudman said, “Together with Athene, we
have established Eliant to serve the growing market for flexible
inventory and trade finance solutions, while helping our clients
access high-quality, recurring asset origination. More and more
companies are looking for economically efficient ways to strengthen
their supply chains and bolster resiliency, while traditional
financing sources have largely stopped originating these assets –
creating a significant opportunity for us to engage as a solutions
provider. We are excited to launch inventory solutions through our
strategic relationship with BNP Paribas, which has a tremendous
track record in trade finance, and together support Eliant’s
growing team and capital needs.”
BNP Paribas Head of Trade & Treasury Solutions Americas
Suresh Subramanian said, “The bank has established expertise in
understanding the complete spectrum of supply chain financing
solutions, including inventory. Supply chain resiliency and working
capital efficiency are key concerns of corporates, and through this
strategic relationship with Apollo, we reinforce our commitment to
innovative solutions that enable clients to quickly adapt to the
challenges of the real economy.”
Eliant will focus on critical and strategic inventory for
high-quality, global customers, employing diligent underwriting
that aligns with the investment philosophies of Apollo and Athene
and adds to their portfolio of origination platforms spanning
commercial and consumer lending.
About EliantEliant delivers supply chain
resiliency and flexibility through creative working capital
solutions. We work with multinational and domestic companies to
bring additional certainty to their supply chains and inventories
through cost effective financial solutions. Eliant is funded by
subsidiaries and cedents of Athene Holding Ltd., and is overseen by
affiliates of Apollo Global Management, Inc. (NYSE: APO). To learn
more, please visit www.elianttrade.com.
About ApolloApollo is a global, high-growth
alternative asset manager. In our asset management business, we
seek to provide our 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 equity. For
more than three decades, our investing expertise across our fully
integrated platform has served the financial return needs of our
clients and provided businesses with innovative capital solutions
for growth. Through Athene, our retirement services business, we
specialize in helping clients achieve financial security by
providing a suite of retirement savings products and acting as a
solutions provider to institutions. Our patient, creative, and
knowledgeable approach to investing aligns our clients, businesses
we invest in, our employees, and the communities we impact, to
expand opportunity and achieve positive outcomes. As of September
30, 2021, Apollo had approximately $481 billion of assets under
management. To learn more, please visit www.apollo.com.
About AtheneAthene, a subsidiary of Apollo, is
a leading retirement services company with total assets of $224.4
billion as of September 30, 2021 and operations in the United
States, Bermuda, and Canada. Athene specializes in helping its
customers achieve financial security and is a solutions provider to
institutions. Founded in 2009, Athene is Driven to Do
More for our policyholders, business partners, and the
communities in which we work and live. For more information, please
visit www.athene.com.
About BNP Paribas BNP Paribas is the
European Union’s leading bank and key player in international
banking. It operates in 68 countries and has more than 193,000
employees, including nearly 148,000 in Europe. The Group has key
positions in its three main fields of activity: Retail Banking for
the Group’s retail-banking networks and several specialized
businesses including BNP Paribas Personal Finance and Arval;
Investment & Protection Services for savings, investment and
protection solutions; and Corporate & Institutional Banking,
focused on corporate and institutional clients. Based on its strong
diversified and integrated model, the Group helps all its clients
(individuals, community associations, entrepreneurs, SMEs,
corporates and institutional clients) to realize their projects
through solutions spanning financing, investment, savings and
protection insurance. In Europe, BNP Paribas has four domestic
markets: Belgium, France, Italy and Luxembourg. The Group is
rolling out its integrated retail-banking model across several
Mediterranean countries, Turkey, Eastern Europe as well as via a
large network in the western part of the United States. As a key
player in international banking, the Group has leading platforms
and business lines in Europe, a strong presence in the Americas as
well as a solid and fast-growing business in Asia-Pacific.
BNP Paribas has implemented a Corporate Social Responsibility
approach in all its activities, enabling it to contribute to the
construction of a sustainable future, while ensuring the Group's
performance and stability.
Forward-Looking Statements
This press release contains forward-looking statements that are
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. 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 and expectations regarding benefits anticipated to be
derived from the merger (the “Merger”) with Athene. 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 press release, the words
“believe,” “anticipate,” “estimate,” “expect,” “intend,” “may,”
“will,” “could,” “should,” “might,” “plan,” “seek,” “continue” 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. It is possible that actual results will differ,
possibly materially, from the anticipated results indicated in
these statements. These statements are subject to certain risks,
uncertainties and assumptions, including risks relating to Apollo’s
dependence on certain key personnel, Apollo’s ability to raise new
Apollo funds, the impact of COVID-19, the impact of energy market
dislocation, market conditions, and interest rate fluctuations,
generally, Apollo’s ability to manage its growth, fund performance,
the variability of Apollo’s revenues, net income and cash flow,
Apollo’s use of leverage to finance its businesses and investments
by Apollo funds, Athene’s ability to maintain or improve financial
strength ratings, the impact of Athene’s reinsurers failing to meet
their assumed obligations, Athene’s ability to manage its business
in a highly regulated industry, changes in Apollo’s regulatory
environment and tax status, litigation risks and Apollo’s ability
to recognize the benefits expected to be derived from the Merger.
Apollo believes these factors include but are not limited to those
described under the section entitled “Risk Factors” in the joint
proxy statement/prospectus filed by Apollo Global Management, Inc.
(formerly known as Tango Holdings, Inc.) with the Securities and
Exchange Commission (the “SEC”) on November 5, 2021, Apollo Asset
Management Inc.’s (“AAM,” formerly known as Apollo Global
Management, Inc.) Annual Report on Form 10-K filed with the SEC on
February 19, 2021 and Quarterly Report on Form 10-Q filed with the
SEC on May 10, 2021, and Athene’s Annual Report on Form 10-K filed
with the SEC on February 19, 2021, amendment to its Annual Report
on Form 10-K/A filed with the SEC on April 20, 2021 and Quarterly
Report on Form 10-Q filed with the SEC on November 8, 2021, as such
factors may be updated from time to time in Apollo’s, AAM’s or
Athene’s periodic filings with the SEC, which are accessible on the
SEC’s website at http://www.sec.gov. These factors should not be
construed as exhaustive and should be read in conjunction with the
other cautionary statements that are included in this press release
and in other filings. Apollo undertakes no obligation to publicly
update or review any forward-looking statements, whether as a
result of new information, future developments or otherwise, except
as required by applicable law. This press release does not
constitute an offer of any Apollo fund.
Contacts
For Apollo and Athene:
Investors:Noah GunnGlobal Head of Investor Relations, Apollo
(212) 822-0540IR@apollo.com
Media:Joanna RoseGlobal Head of Corporate Communications,
Apollo(212) 822-0491Communications@apollo.com
Amanda Carstens Steward Head of Marketing & Corporate
Communications, Athene(515) 342 6473Asteward@athene.com
For BNP Paribas:
Media:Guild Taylor (332)
323-3704Guild.Taylor@us.bnpparibas.com
Robert Madden(917) 287-8501Robert.Madden@us.bnpparibas.com
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