Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 181

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 181
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 incurred in connection with such investments, which we refer to as “high water marks.” These high water marks are applied on an individual investor basis. Certain of the funds we manage have investors with various high water marks, the achievement of which is subject to market conditions and investment performance.

Performance fees from certain funds we manage are subject to contingent repayment by the general partner in the event of future losses to the extent that the cumulative performance fees distributed from inception to date exceeds the amount computed as due to the general partner at the final distribution. These general partner obligations, if applicable, are included in due to related parties on the condensed consolidated statements of financial condition.

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The following table summarizes our performance fees since inception through March 31, 2025:

Performance Fees Since Inception1(In millions)Undistributed by Fund and RecognizedDistributed by Fund and Recognized2Total Undistributed and Distributed by Fund and Recognized3General Partner Obligation3Maximum Performance Fees Subject to Potential Reversal4Accord and Accord+ Funds$102 $47 $149 $— $102 AIOF I and II59 63 122 — 64 ANRP I, II and III56 191 247 3 116 Athora69 — 69 — 69 Credit Strategies27 481 508 — 21 EPF Funds28 542 570 112 37 FCI Funds88 24 112 — 88 Freedom Parent Holdings36 108 144 — 27 Fund X282 — 282 — 282 Fund IX1,552 1,375 2,927 — 2,295 Fund VIII1 1,783 1,784 56 1,177 Fund VII— 3,271 3,271 — — Fund VI33 1,664 1,697 — — Fund IV and Fund V— 2,023 2,023 1 — HVF I60 255 315 — 184 HVF II130 72 202 — 165 MidCap Financial37 166 203 — 37 Redding Ridge Holdings151 — 151 — 143 Other5651 2,719 3,370 19 736 Total$3,362 $14,784 $18,146 $191 $5,543