Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 48

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 2
Chunk 48
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 20252024(In millions)CreditEquityTotalCreditEquityTotalChange in Fee-Generating AUM1:Beginning of Period$495,843 $72,823 $568,666 $422,036 $70,916 $492,952 Inflows278,379 11,026 89,405 58,519 3,530 62,049 Outflows2,3(29,085)(6,626)(35,711)(36,153)(2,534)(38,687)Net Flows49,294 4,400 53,694 22,366 996 23,362 Realizations(1,980)(1,647)(3,627)(2,478)(957)(3,435)Market Activity418,882 693 19,575 9,368 (84)9,284 End of Period$562,039 $76,269 $638,308 $451,292 $70,871 $522,163 1 At the individual strategy level, inflows include new subscriptions, commitments, capital raised, other increases in available capital, purchases, acquisitions and portfolio company appreciation. Outflows represent redemptions, other decreases in available capital and portfolio company depreciation. Realizations represent fund distributions of realized proceeds. Market activity represents gains (losses), the impact of foreign exchange rate fluctuations and other income.2 Inflows and outflows reflected above include $2.0 billion for Fee-Generating AUM related to a strategy realignment of certain funds from credit to equity as of January 1, 2025 with no impact to net flows presented for the six months ended June 30, 2025. Outflows for Fee-Generating AUM include redemptions of $2.5 billion and $3.2 billion during the six months ended June 30, 2025 and 2024, respectively.3 Included in the equity outflows for Fee-Generating AUM for the six months ended June 30, 2025 is $4.5 billion related to the expiration of Fund VIII's fee-paying period. 4 Includes foreign exchange impacts of $8.0 billion and $(1.8) billion during the six months ended June 30, 2025 and 2024, respectively. 

Three Months Ended June 30, 2025

Total Fee-Generating AUM was $638.3 billion at June