Apollo Global Management and AR Capital Mutually Agree to Terminate Transaction

NEW YORK, Nov. 9, 2015 /PRNewswire/ -- Apollo Global Management, LLC (together with its consolidated subsidiaries, "Apollo") APO and AR Capital, LLC ("AR Capital") today announced that they have mutually agreed to terminate the planned transaction pursuant to which Apollo would have purchased a controlling interest in a newly formed company, AR Global Investments, LLC, that would have owned a majority of the ongoing asset management business of AR Capital. In conjunction with the transaction's termination, AR Capital is purchasing from Apollo $25 million of preferred stock of RCS Capital Corporation RCAP held by Apollo for $25.6 million.

About Apollo Global Management, LLC

Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, Bethesda, Toronto, London, Frankfurt, Luxembourg, Madrid, Mumbai, Delhi, Singapore, Shanghai and Hong Kong. Apollo had assets under management of approximately $162 billion as of September 30, 2015 in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. Apollo shares are listed on the New York Stock Exchange. For more information about Apollo, please visit www.agm.com.

About AR Capital

Founded in 2006, AR Capital is a full service investment management firm providing advisory services to retail and institutional investors. AR Capital is an active sponsor and manager of numerous alternative investment programs, including multiple real estate investment trusts ("REITs"), open-end mutual funds, two business development companies and a closed–end fund.

For nearly a decade, AR Capital has broadened its focus in real estate strategies to include net lease, healthcare, retail, office, hospitality properties, and more recently, yield-focused credit strategies including commercial real estate debt, corporate credit and structured credit. Additional information can be found at www.americanrealtycap.com. 

Contacts

For investor inquiries regarding Apollo, please contact:

Apollo Global Management, LLC
Gary M. Stein, 212-822-0467
Head of Corporate Communications
gstein@apollolp.com

Noah Gunn, 212-822-0540
Investor Relations Manager
ngunn@apollolp.com

For media inquiries regarding Apollo:

Rubenstein Associates, Inc. for Apollo Global Management, LLC
Charles Zehren, 212-843-8590
czehren@rubenstein.com

For media inquiries regarding AR Capital, please contact:

Jonathan Keehner
Mahmoud Siddig
Joele Frank, Wilkinson Brimmer Katcher
jkeehner@joelefrank.com
msiddig@joelefrank.com
(212) 355-4449

Logo - http://photos.prnewswire.com/prnh/20151109/285048LOGO
Logo - http://photos.prnewswire.com/prnh/20130916/NY80679LOGO

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/apollo-global-management-and-ar-capital-mutually-agree-to-terminate-transaction-300174639.html

SOURCE AR Capital, LLC