Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

Apollo Global Management  / Index Rebalance

<ul>
<li>The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.</li>
<li>In this insight, we take a look at the upcoming constituent changes in the run up to the December 2024 index rebal event.</li>
<li>We expect two regular changes in December 2024. There are also several live spin-off and M&amp;A events which could trigger intra-review index changes in late-2024/early-2025.</li>
</ul>


The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.
In this insight, we take a look at the upcoming constituent changes in the run up to the December 2024 index rebal event.
We expect two regular changes in December 2024. There are also several live spin-off and M&amp;A events which could trigger intra-review index changes in late-2024/early-2025.


Quiddity Leaderboard S&P 500 Dec 24: APP, APO, and TPL May Be ADDs, Watch SP600 DELs

Podcast by CEO, Norges Bank Investment Management, In Good Company with Nicolai Tangen

In Good Company with Nicolai Tangen

Podcast by CEO, Norges Bank Investment Management

The CEO of the largest single investor in the world, Norges Bank Investment Management, interviews leaders of some of the largest companies in the world. You will get to know the leader, their strategy, leadership principles, and much more. Hosted on Acast. See https://www.acast.com/privacy-policy for more information.

Equity Bottom-Up

Apollo Global Management  / Equity Bottom-Up

<ul><li>Mark Rowan shares his journey from founding Apollo Global Management to growing the firm to over $700 billion in AUM, emphasizing the importance of being aligned with tailwinds in the market.</li><li>Apollo's success is attributed to their investment philosophy of focusing on purchase price, excess return per unit of risk, and alignment with their clients.</li><li>Rowan discusses the challenges and risks in the current market environment, stressing the significance of judgment, integration, and communication in leadership and decision-making.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Mark Rowan shares his journey from founding Apollo Global Management to growing the firm to over $700 billion in AUM, emphasizing the importance of being aligned with tailwinds in the market.Apollo's success is attributed to their investment philosophy of focusing on purchase price, excess return per unit of risk, and alignment with their clients.Rowan discusses the challenges and risks in the current market environment, stressing the significance of judgment, integration, and communication in leadership and decision-making.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Apollo CEO: Private Markets, Investment Alpha and Risk Management

<ul>
<li>The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.</li>
<li>In this insight, we take a look at the upcoming constituent changes in the run up to the December 2024 index rebal event.</li>
<li>We expect two regular changes in December 2024. There are also several live spin-off and M&amp;A events which could trigger intra-review index changes in the late-2024/early-2025.</li>
</ul>


The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.
In this insight, we take a look at the upcoming constituent changes in the run up to the December 2024 index rebal event.
We expect two regular changes in December 2024. There are also several live spin-off and M&amp;A events which could trigger intra-review index changes in the late-2024/early-2025.


Quiddity Leaderboard S&P 500 Dec 24 Rebal: APO, CRH, WDAY, TPL

European Event-Driven Analyst

Jesus Rodriguez Aguilar

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ti-fluid-systems-plc" target="_blank" data-smartkarma-citation="entities:41309:1" rel="noopener">TI Fluid Systems (TIFS LN)</a> is trading at 10% gross spread to ABC (Apollo)'s Proposal, which the Board of TIFS would be minded to recommend if made firm.</li>
<li>Although TIFS has made notable strategic progress recently, and maintained margins despite tough conditions over the last years, the short-term car picture has gotten progressively worse.</li>
<li>200p implies 4.6x EV/NTM EBITDA versus global auto suppliers trading on a median of 4.4x and represents a good-value exit. I believe the deal will complete. Long.</li>
</ul>



TI Fluid Systems (TIFS LN) is trading at 10% gross spread to ABC (Apollo)'s Proposal, which the Board of TIFS would be minded to recommend if made firm.
Although TIFS has made notable strategic progress recently, and maintained margins despite tough conditions over the last years, the short-term car picture has gotten progressively worse.
200p implies 4.6x EV/NTM EBITDA versus global auto suppliers trading on a median of 4.4x and represents a good-value exit. I believe the deal will complete. Long.


ABC/TI Fluid Systems: 10% Gross Spread on a Highly Likely Deal

Quiddity Leaderboard S&P 500 Dec 24: Two ADDs (One Biggie), Two DELs, Possible Big Intrareview Moves

United States

Apollo Global Management, Inc. operates as an alternative investment management company. The Company focuses on investing in yield, hybrid, and equity markets to generate retirement and investment income for clients. Apollo Global Management serves businesses and individuals worldwide.

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Apollo Global Management (APO US)

Quiddity Leaderboard S&P 500 Dec 24: APP, APO, and TPL May Be ADDs, Watch SP600 DELs

The S&P500/400/600 Dec24 review will be announced in just over 10 days. There is an intra-review change in SP600 first, and perhaps a few more in...

Travis Lundy

Apollo CEO: Private Markets, Investment Alpha and Risk Management

Mark Rowan, co-founder of Apollo Global Management, discusses the success, evolution, and challenges of the private equity industry, highlighting...

In Good Company with Nicolai Tangen

Quiddity Leaderboard S&P 500 Dec 24 Rebal: APO, CRH, WDAY, TPL

The S&P500 rebalance in December is shaping up to be a trade worth $8-13bn a side but there is a possible intra-review change to come as well....

Travis Lundy

ABC/TI Fluid Systems: 10% Gross Spread on a Highly Likely Deal

TI Fluid Systems (TIFS LN) trading at 10% gross spread to ABC (Apollo)'s Proposal, with Board likely to recommend if firm. Despite recent...

Jesus Rodriguez Aguilar

Quiddity Leaderboard S&P 500 Dec 24: Two ADDs (One Biggie), Two DELs, Possible Big Intrareview Moves

There are currently two expected ADDs and two expected DELs for the SP500 Dec24 Rebalance. There could be more from spinoffs and mergers. One big...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Quiddity Leaderboard S&P 500 Dec 24: APP, APO, and TPL May Be ADDs, Watch SP600 DELs

The S&P500/400/600 Dec24 review will be announced in just over 10 days. There is an intra-review change in SP600 first, and perhaps a few more in...

Travis Lundy

Apollo CEO: Private Markets, Investment Alpha and Risk Management

Mark Rowan, co-founder of Apollo Global Management, discusses the success, evolution, and challenges of the private equity industry, highlighting...

In Good Company with Nicolai Tangen

Quiddity Leaderboard S&P 500 Dec 24 Rebal: APO, CRH, WDAY, TPL

The S&P500 rebalance in December is shaping up to be a trade worth $8-13bn a side but there is a possible intra-review change to come as well....

Travis Lundy

ABC/TI Fluid Systems: 10% Gross Spread on a Highly Likely Deal

​TI Fluid Systems (TIFS LN) trading at 10% gross spread to ABC (Apollo)'s Proposal, with Board likely to recommend if firm. Despite recent...

Jesus Rodriguez Aguilar

Quiddity Leaderboard S&P 500 Dec 24: Two ADDs (One Biggie), Two DELs, Possible Big Intrareview Moves

There are currently two expected ADDs and two expected DELs for the SP500 Dec24 Rebalance. There could be more from spinoffs and mergers. One big...

Travis Lundy

TI Fluid Systems (TIFS LN) trading at 10% gross spread to ABC (Apollo)'s Proposal, with Board likely to recommend if firm. Despite recent...