Company: APO
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001858681-25-000139
Chunk: 51

Company: Apollo Global Management, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 2
Chunk 51
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 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 Outflows for Fee-Generating AUM include redemptions of $1.7 billion and $1.6 billion during the three months ended September 30, 2025 and 2024, respectively. 3 Includes foreign exchange impacts of $(0.5) billion and $2.4 billion during the three months ended September 30, 2025 and 2024, respectively. 

Nine months ended September 30, 20252024(In millions)CreditEquityTotalCreditEquityTotalChange in Fee-Generating AUM1:Beginning of Period$495,843 $72,823 $568,666 $422,036 $70,916 $492,952 Inflows2116,444 35,182 151,626 89,589 7,426 97,015 Outflows2,3(46,507)(7,656)(54,163)(48,404)(4,982)(53,386)Net Flows69,937 27,526 97,463 41,185 2,444 43,629 Realizations(3,509)(2,520)(6,029)(3,812)(1,722)(5,534)Market Activity423,948 978 24,926 19,601 375 19,976 End of Period$586,219 $98,807 $685,026 $479,010 $72,013 $551,023 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