Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 49

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 2
Chunk 49
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 manage, excluding Athene and Athora-related assets.

Total Returns(In millions)IPO Year1Total AUMFor the Three Months Ended March 31, 2025For the Three Months Ended March 31, 2024ADS2N/A$20,058 2 %3 %MidCap Financial3N/A12,794 5 %4 %ARI420098,831 13 %(2)%MFIC4,520043,850 (2)%13 %ADREF6N/A5,422 — %(2)%ADCF6N/A1,551 2 %3 %ARIS6N/A1,408 1 %1 %Other7N/A13,243 N/AN/ATotal$67,157 1 An initial public offering (“IPO”) year represents the year in which the vehicle commenced trading on a national securities exchange. 2 ADS is not a publicly traded vehicle and therefore IPO year is not applicable. The returns presented are net returns based on NAV.3 MidCap Financial is not a publicly traded vehicle and therefore IPO year is not applicable. The returns presented are a gross return based on NAV. The net returns based on NAV were 4% and 3% for the three months ended March 31, 2025 and 2024, respectively.4 Total returns are based on the change in closing trading prices during the respective periods presented taking into account dividends and distributions, if any, as if they were reinvested without regard to commission.5 AUM is presented on a three-month lag, as of December 31, 2024, based upon the availability of the information.6 ADREF, ADCF and ARIS are not publicly traded vehicles and therefore IPO years are not applicable. The returns presented are for their respective Class I shares and are net returns based on NAV. 7 Other includes, among others, AUM of $2.0 billion related to a publicly traded business development company from which Apollo earns investment-related service fees, but for which Apollo does not provide management or advisory services, as of December 31, 2024. Returns and IPO year are not provided for this AUM. Other also includes AUM of $8.2 billion related to third-party capital within AAA.

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Summary of Non-U.S. GAAP Measures

The table below sets forth a reconciliation of net income attributable to Apollo Global Management, Inc. common stockholders to Segment Income and