Apollo posts $1.7bn profit and record $908bn AUM in third quarter

Apollo Global Management reported a strong third quarter, underpinned by record earnings from its asset management and retirement services businesses.

The private equity firm posted GAAP net income of $1.7bn, or $2.82 per share, while adjusted net income reached $1.4bn, or $2.17 per share.

Fee Related Earnings climbed 23% year-on-year to $652m, and Spread Related Earnings increased to $871m, bringing total fee and spread-related earnings to a record $1.5bn for the quarter.

Apollo’s assets under management grew 24% year-on-year to $908bn, supported by $82bn of quarterly inflows and $219bn over the past year. Fee-generating AUM rose to $685bn, with nearly 60% of Apollo’s total assets in perpetual capital vehicles.

During the quarter, the firm originated $75bn in new credit and investment opportunities, generated $212m in capital solutions fees, and attracted $5bn of new inflows through its global wealth platform.

Apollo also returned $2.2bn to shareholders over the past year through $1.2bn in share buybacks and more than $1bn in dividends, while investing around $190m to fund growth initiatives, including the acquisition of Bridge Investment Group.

Marc Rowan, Chairman and Chief Executive Officer, said, “Our outstanding third quarter results reflect broad based momentum across the business. In a world of reindustrialization, aging populations, and investors seeking greater access to private markets, we are delivering with leading origination, new product solutions and distribution, and excess return for our clients. ”

The firm declared a quarterly dividend of $0.51 per share, payable on 28 November 2025.