Apollo Global Management, the US private equity group, will face questions from investors about the future of its poorly performing Amsterdam-listed fund.The company will hold a conference call with investors on Thursday to discuss its results and is set to be questioned on its future.
It is likely that Apollo Alternative Assets (AAA) will be de-listed from Amsterdam as part of the groupâ??s planned New York flotation. Apollo filed plans for an initial public offering in New York in April but no date has been set for the share issue so far. Once the flotation goes ahead many believe AAA will quickly become redundant, as investors are likely to prefer investing in Apolloâ??s main US listing.
Apollo Global Management reported a net loss of $96.4m for three months to March, against a $144m profit a year earlier. AAA shares are currently trading at a 50 per cent discount to their net asset value on Euronext Amsterdam and is one of the worst performers since they have been listed.
