Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 393

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 393
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 percentage of the gain in a specific market index. Athene also uses derivative instruments, such as forward contracts and swaps, to hedge foreign currency exposure resulting from foreign denominated assets and liabilities and to help manage its net floating rate position.

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Net Invested Assets

The following summarizes Athene’s net invested assets:

June 30, 2025December 31, 2024(In millions, except percentages)Net Invested Asset Value1Percentage of TotalNet Invested Asset Value1Percentage of TotalCorporate$92,073 33.5 %$86,051 34.6 %CLO29,303 10.6 %27,698 11.2 %Credit121,376 44.1 %113,749 45.8 %CML30,955 11.2 %28,055 11.3 %RML34,263 12.5 %27,848 11.2 %RMBS8,879 3.2 %7,635 3.1 %CMBS10,007 3.6 %8,243 3.3 %Real estate84,104 30.5 %71,781 28.9 %ABS30,397 11.0 %28,670 11.5 %Alternative investments12,817 4.7 %12,000 4.8 %State, municipal, political subdivisions and foreign government3,217 1.2 %3,237 1.3 %Equity securities2,183 0.8 %2,201 0.9 %Short-term investments224 0.1 %1,015 0.4 %U.S. government and agencies7,105 2.6 %5,531 2.2 %Other investments55,943 20.4 %52,654 21.1 %Cash and cash equivalents9,265 3.4 %6,794 2.7 %Other4,352 1.6 %3,665 1.5 %Net invested assets$275,040 100.0 %$248,643 100.0 %1 See “Managing Business Performance - Key Segment and Non-U.S. GAAP Performance Measures” for the definition of net invested assets.

Athene’s net invested assets were $275.0