Ultra-Wealthy Family Offices Dive into Sports Investments
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 days ago
0mins
Source: CNBC
- Significant Investment: Billionaire Tom Dundon's family office partnered with Apollo's new sports fund to invest $225 million in Pickleball Inc., reflecting the ultra-wealthy's strong interest and confidence in the sports industry.
- Diversified Portfolio: Michael Dell acquired a 25% stake in the Las Vegas Raiders through an investor group led by Silver Lake, further solidifying his investment position in sports while also holding minority stakes in the San Antonio Spurs.
- Active Family Offices: According to Fintrx data, family offices made 51 direct investments in May, maintaining the same level as April, indicating sustained interest from high-net-worth investors in the sports sector.
- Tech-Driven Investment: David Adelman's Darco Capital co-led a $12 million Series A round for PlayerData, showcasing the potential and appeal of sports technology in enhancing athlete performance.
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Analyst Views on APO
Wall Street analysts forecast APO stock price to rise
11 Analyst Rating
10 Buy
1 Hold
0 Sell
Strong Buy
Current: 128.030
Low
136.00
Averages
164.45
High
182.00
Current: 128.030
Low
136.00
Averages
164.45
High
182.00
About APO
Apollo Global Management, Inc. is a global alternative asset manager and a retirement services provider. It operates through three segments: Asset Management, Retirement Services and Principal Investing. The Asset Management segment focuses on three investing strategies: yield, hybrid, and equity. These strategies reflect the range of investment capabilities across its platform based on relative risk and return. The Retirement Services business is conducted by Athene Holding Ltd (Athene), a financial services company that specializes in issuing, reinsuring, and acquiring retirement savings products designed for the increasing number of individuals and institutions seeking to fund retirement needs. Athene product lines include annuities and funding agreements. The Principal Investing segment includes realized performance fee income, realized investment income from its balance sheet investments, and certain allocable expenses related to corporate functions supporting the entire company.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Strong Company Confidence: Despite the withdrawal of the acquisition proposal, Bodycote's board remains confident in the company's potential and strategy, emphasizing its commitment to building a high-performing, resilient business with attractive growth prospects.
- Strategic Execution Continues: Bodycote is actively advancing its 'Optimise, Perform and Grow' initiatives, with positive trading performance in 2026, indicating the effectiveness of its business model as highlighted in the AGM update.
- Background of Cash Proposal: Last month, Bodycote confirmed it received a conditional cash proposal from Apollo Management, offering a price of 885 pence per share along with a proposed final dividend of 16.1 pence per share for the 2025 financial year, showcasing market recognition of its value.
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Ultra-Wealthy Family Offices Dive into Sports Investments
- Significant Investment: Billionaire Tom Dundon's family office partnered with Apollo's new sports fund to invest $225 million in Pickleball Inc., reflecting the ultra-wealthy's strong interest and confidence in the sports industry.
- Diversified Portfolio: Michael Dell acquired a 25% stake in the Las Vegas Raiders through an investor group led by Silver Lake, further solidifying his investment position in sports while also holding minority stakes in the San Antonio Spurs.
- Active Family Offices: According to Fintrx data, family offices made 51 direct investments in May, maintaining the same level as April, indicating sustained interest from high-net-worth investors in the sports sector.
- Tech-Driven Investment: David Adelman's Darco Capital co-led a $12 million Series A round for PlayerData, showcasing the potential and appeal of sports technology in enhancing athlete performance.
See More
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- Stock Price Reaction: Bodycote's stock price fell approximately 10% on the London exchange, indicating negative investor sentiment following the failed acquisition, which may also impact its future financing and market confidence.
- Management Confidence: Despite the failed bid, Bodycote expressed confidence in its strategy, highlighting a positive start to 2026 and progress on operational and growth initiatives, aiming to stabilize investor sentiment.
- Acquisition Restrictions: Under UK takeover rules, Apollo is now restricted from making another offer for Bodycote for a specified period, limiting its further actions in this market.
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- Investigation Scope Expands: Wyden is also seeking to determine whether several financial institutions violated federal anti-money laundering laws by failing to adequately screen and report Black's suspicious transactions with Epstein, potentially leading to broader compliance issues.
- Testimony Requirement: The House Oversight Committee plans to depose Black under oath, focusing on why he paid Epstein $100 million without a contract and the conflicting narratives regarding the quality of Epstein's tax planning services.
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- AI Rollup Strategy: Venture capital firms in Silicon Valley are shifting from selling AI tools to acquiring legacy companies and rebuilding them around AI, marking a significant change in the enterprise software market dynamics.
- Major Deal Examples: Over the past six months, General Catalyst and Trian executed a $7.6 billion take-private of Janus Henderson and a $6.3 billion acquisition of American Express Global Business Travel at a 65% premium, reflecting strong market confidence in AI transformation.
- Industry Impact: The AI rollup strategy targets industries with lagging software adoption, such as healthcare and accounting, posing challenges for traditional private equity firms that rely on financial engineering, potentially reshaping the competitive landscape.
- Technological Advantage: Long Lake's Nexus platform has demonstrated five times the efficiency of general-purpose models like Claude or ChatGPT in internal evaluations, indicating that embedding engineers within companies can lead to sustainable technological change.
See More
Bodycote plc Rejects Acquisition Proposal from Apollo Management
- Acquisition Proposal Withdrawn: Apollo Management X, L.P. announced it does not intend to make a firm offer for Bodycote plc, resulting in a 13.06% drop in the company's stock price to 715.50 pence, reflecting market disappointment over the acquisition prospects.
- Strong Company Confidence: Despite the withdrawal of the acquisition proposal, Bodycote's board remains confident in the company's potential and strategy, emphasizing its commitment to building a high-performing, resilient business with attractive growth prospects.
- Strategic Execution Continues: Bodycote is actively advancing its 'Optimise, Perform and Grow' initiatives, with positive trading performance in 2026, indicating the effectiveness of its business model as highlighted in the AGM update.
- Background of Cash Proposal: Last month, Bodycote confirmed it received a conditional cash proposal from Apollo Management, offering a price of 885 pence per share along with a proposed final dividend of 16.1 pence per share for the 2025 financial year, showcasing market recognition of its value.
See More
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- Broadcom Stock Decline: Broadcom (AVGO) fell 2.2% in premarket trading following an earnings-related selloff on Thursday; however, Erste Group upgraded the chipmaker on Friday, expecting continued positive momentum in the third quarter of the new financial year.
- Planet Labs Financing Plan: Planet Labs (PL) dropped 5% in premarket trading after entering into an equity distribution agreement to offer and sell up to $1.5 billion of Class A common stock, which may dilute existing shareholders as sales are made in at-the-market offerings.
- Apollo Global Acquisition Scrapped: Apollo Global Management (APO) slipped 0.3% in premarket trading after scrapping plans for a £1.52 billion ($2.04 billion) takeover bid for U.K. thermal processing company Bodycote, with the proposed all-cash offer representing a nearly 27% premium to Bodycote’s share price at the time.
- Taiwan Semiconductor Challenges: Taiwan Semiconductor (TSM) declined 1.9% in premarket trading despite Wedbush Securities expressing a positive long-term outlook, as CEO C.C. Wei stated that the global foundry will not be able to meet artificial intelligence demand for years, highlighting ongoing supply chain pressures in the industry.
See More
Ultra-Wealthy Family Offices Dive into Sports Investments
- Significant Investment: Billionaire Tom Dundon's family office partnered with Apollo's new sports fund to invest $225 million in Pickleball Inc., reflecting the ultra-wealthy's strong interest and confidence in the sports industry.
- Diversified Portfolio: Michael Dell acquired a 25% stake in the Las Vegas Raiders through an investor group led by Silver Lake, further solidifying his investment position in sports while also holding minority stakes in the San Antonio Spurs.
- Active Family Offices: According to Fintrx data, family offices made 51 direct investments in May, maintaining the same level as April, indicating sustained interest from high-net-worth investors in the sports sector.
- Tech-Driven Investment: David Adelman's Darco Capital co-led a $12 million Series A round for PlayerData, showcasing the potential and appeal of sports technology in enhancing athlete performance.
See More
Apollo Abandons £1.52B Bid for Bodycote
- Bid Termination: Apollo Global Management has decided to scrap its £1.52 billion takeover bid for UK thermal processing company Bodycote, ending discussions over a proposed all-cash offer of 885 pence per share, reflecting market caution regarding the deal.
- Stock Price Reaction: Bodycote's stock price fell approximately 10% on the London exchange, indicating negative investor sentiment following the failed acquisition, which may also impact its future financing and market confidence.
- Management Confidence: Despite the failed bid, Bodycote expressed confidence in its strategy, highlighting a positive start to 2026 and progress on operational and growth initiatives, aiming to stabilize investor sentiment.
- Acquisition Restrictions: Under UK takeover rules, Apollo is now restricted from making another offer for Bodycote for a specified period, limiting its further actions in this market.
See More
Senator Demands Investigation into Black's Payments to Epstein
- Payment Amount Raises Questions: Senator Ron Wyden is scrutinizing former Apollo Management chairman Leon Black's $170 million payments to convicted sex trafficker Jeffrey Epstein, asserting that Black's explanation fails to justify why the amounts significantly exceeded those paid to other advisors.
- Investigation Scope Expands: Wyden is also seeking to determine whether several financial institutions violated federal anti-money laundering laws by failing to adequately screen and report Black's suspicious transactions with Epstein, potentially leading to broader compliance issues.
- Testimony Requirement: The House Oversight Committee plans to depose Black under oath, focusing on why he paid Epstein $100 million without a contract and the conflicting narratives regarding the quality of Epstein's tax planning services.
- Internal Review Findings: Although Apollo's independent review found no evidence of Black's involvement in Epstein's criminal activities, his resignation as CEO and chairman in 2021 continues to raise concerns about his business ethics.
See More
