AP Alternative Assets, L.P.
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Publicatie datum
11 mrt 2008 - 01:26
Statutaire naam
AP Alternative Assets, L.P.
Titel
AP Alternative Assets, L.P. (“AAA”) announced today that it has been informed by Apollo Global Management, LLC that one of its affiliates has acquired units of AAA
Bericht
AP Alternative Assets, L.P. (“AAA”) announced today that it has been informed by Apollo Global Management, LLC that one of its affiliates has acquired units of AAA
Guernsey, Channel Islands, March 11, 2008
AP Alternative Assets, L.P. (“AAA”, Euronext Amsterdam: AAA) announced today that it has been informed by Apollo Global Management, LLC (“Apollo”) that one of its affiliates (AAA Holdings, L.P.) has acquired 1,768,349 units of AAA in the open market between March 3, 2008 and March 7, 2008 at an average price of $12.86 per unit.
Below is the announcement released by Apollo:
Apollo Global Management, LLC (“Apollo”) announced today that one of its affiliates (AAA Holdings, L.P.) has acquired 1,768,349 units of AP Alternative Assets, L.P. (“AAA”) in the open market between March 3, 2008 and March 7, 2008 at an average price of $12.86 per unit.
As of March 10, 2008, Apollo, through one or more of its affiliates, held 4,801,374 units of AAA.
Commenting on the unit purchases, Josh Harris, President and Founding Partner of Apollo, stated: “Apollo believes the value implied by the market price of AAA units is significantly below the intrinsic value of its underlying net assets, which as of December 31, 2007 was $22.06 per unit. As a value oriented long term investor, Apollo considers the valuation implied by the current market price of AAA units as a highly attractive investment opportunity. Apollo, its partners and employees are committed, over the long term, to the success of AAA.”
Mr. Harris continued, “Apollo will continue to monitor the trading performance of AAA in the market and may, from time to time, seek to opportunistically purchase units, through one or more of its affiliates, when market conditions permit.”
About AAA
AP Alternative Assets was established by Apollo and is a closed-end limited partnership established under the laws of Guernsey. Apollo is a leading private equity and capital markets investor with 18 years of experience investi
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