Apollo Global Management Announces Strategic Transactions

RCS Capital (RCAP) Triggers Second Circuit Breaker, Shares Down 27%

August 6, 2015 2:34 PM EDT

RCS Capital (NYSE: RCAP) Triggers Second Circuit Breaker, Shares Down 27%

... More

RCS Capital (RCAP) Halted on Circuit Breaker

August 6, 2015 2:23 PM EDT

RCS Capital (NYSE: RCAP) Halted on Circuit Breaker

... More

RCS Capital (RCAP) Misses Q2 EPS by 13c, Enters Agreement with Apollo Global (APO)

August 6, 2015 2:12 PM EDT

RCS Capital (NYSE: RCAP) reported Q2 EPS of $0.17, $0.13 worse than the analyst estimate of $0.30.

Adjusted EBITDA of $26.9 Million for the Second QuarterRetail Adjusted EBITDA of $26.5 MillionInvestment Banking / Capital Markets Adjusted EBITDA of $10.7 MillionAssets Under Administration ("AUA") of $238.7 Billion; up 11.4% from Prior Year1 9,505 Total Advisors at the End of the Second Quarter97.5% Annualized Advisor Retention2267 Advisors Recruited in the Second Quarter Representing $33.1 Million in Gross Annualized GDC; Net Annualized GDC up $21.5 Million in the Second Quarter

Strategic Transactions and Initiatives

Consistent with the Board of... More

RCS Capital (RCAP) Affirms Plans to Sell Wholesale Distribution Business; Announces Other Initiatives (APO)

August 6, 2015 2:10 PM EDT

RCS Capital (NYSE: RCAP) a series of strategic transactions and initiatives designed to increase shareholder value.

Strategic Transactions and Initiatives

Consistent with the Board of Directors' and management's previously stated commitment to enhance shareholder value, the Company has entered into an agreement with an affiliate of Apollo Global Management, LLC (NYSE: APO) (together with its consolidated subsidiaries, "Apollo"), a leading global alternative investment manager, to sell RCS Capital's Wholesale Distribution division and certain related entities, for $25 million in cash. The Company expects to utilize... More

Apollo Global Management (APO) to Acquire RCS Capital's (RCAP) Wholesale Distribution Business and AR Global

August 6, 2015 2:07 PM EDT

Apollo Global Management (NYSE: APO) announced that it has agreed to acquire a majority interest in a new company, AR Global Investments, LLC, that will own a majority of the ongoing asset management business of AR Capital, a leading asset management firm focused on providing income solutions for retail investors. Apollo also announced today that it is acquiring RCS Capitals (RCS) (NYSE: RCAP) wholesale distribution business, which will become part of AR Global, and that it has entered into a strategic relationship with RCS Capitals retail advice... More