NEW YORK--(BUSINESS WIRE)--Apollo Global Management, LLC (NYSE:APO) today announced the closing of its previously announced offering of 6.375% Series B Preferred Shares representing limited liability company interests with a liquidation preference of $25.00 per share. The offering amounted to 12,000,000 Series B Preferred Shares for gross proceeds of $300 million.

Apollo intends to contribute the net proceeds from the sale of the Series B Preferred Shares for general corporate purposes to its indirect subsidiaries, Apollo Principal Holdings I, L.P., Apollo Principal Holdings II, L.P., Apollo Principal Holdings III, L.P., Apollo Principal Holdings IV, L.P., Apollo Principal Holdings V, L.P., Apollo Principal Holdings VI, L.P., Apollo Principal Holdings VII, L.P., Apollo Principal Holdings VIII, L.P., Apollo Principal Holdings IX, L.P., Apollo Principal Holdings X, L.P., Apollo Principal Holdings XI, LLC, Apollo Principal Holdings XII, L.P. and AMH Holdings (Cayman), L.P.

Distributions on the Series B Preferred Shares, when and if declared by AGM Management, LLC, Apollo’s manager, will be paid quarterly and are non-cumulative.

Apollo intends to list the Series B Preferred Shares on the NYSE under the ticker symbol “APO PR B”.

About Apollo

Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong and Shanghai. Apollo had assets under management of approximately $249 billion as of December 31, 2017 in private equity, credit and real assets funds invested across a core group of nine industries where Apollo has considerable knowledge and resources.