Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 51

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 51
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ene 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:

December 31, 2024December 31, 2023(In millions, except percentages)Net Invested Asset Value1Percentage of TotalNet Invested Asset Value1Percentage of TotalCorporate$86,051 34.6 %$82,883 38.1 %CLO27,698 11.2 %20,538 9.4 %Credit113,749 45.8 %103,421 47.5 %CML28,055 11.3 %25,977 11.9 %RML27,848 11.2 %18,021 8.3 %RMBS7,635 3.1 %7,795 3.6 %CMBS8,243 3.3 %5,580 2.6 %Real estate71,781 28.9 %57,373 26.4 %ABS28,670 11.5 %22,202 10.2 %Alternative investments12,000 4.8 %11,659 5.4 %State, municipal, political subdivisions and foreign government3,237 1.3 %3,384 1.5 %Equity securities2,201 0.9 %1,727 0.8 %Short-term investments1,015 0.4 %1,048 0.5 %U.S. government and agencies5,531 2.2 %4,052 1.9 %Other investments52,654 21.1 %44,072 20.3 %Cash and cash equivalents6,794 2.7 %10,467 4.8 %Other3,665 1.5 %2,094 1.0 %Net invested assets$248,643 100.0 %$217,427 100.0 %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 $248.6 billion and $217.4 billion as of