09:03 AM EDT, 07/26/2024 (MT Newswires) -- Apollo Global Management ( APO ) said Friday that it has provided $700 million in capital to Sony's ( SONY ) Sony Music Group to invest in the music industry.

The capital was provided on behalf of Apollo's affiliated and third-party insurance clients and other investors, according to Apollo.

"This investment allows our clients to invest in high grade securities while helping Sony ( SONY ) to execute its business plans," Apollo Partner Jamshid Ehsani said in statement.

Shares of Apollo Global Management ( APO ) were up 1.4% in recent premarket activity.

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