Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 61

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 2
Chunk 61
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 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 billion and $248.6 billion as of June 30, 2025 and December 31, 2024, respectively. The increase in net invested assets was primarily driven by growth from net organic inflows of $36.0 billion in excess of net liability outflows of $12.8 billion, the reinvestment of earnings, the issuance of $1.6 billion of long-term debt during the second quarter