Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 375

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 375
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 gross/adjusted assets421,421 5,547 426,968 Fee-Generating AUM based on NAV61,960 9,327 71,287 Total Fee-Generating AUM$495,843 $72,823 1$568,666 1 The weighted average remaining life of the traditional private equity funds as of December 31, 2024 was 60 months.

Apollo, through its consolidated subsidiary, ISG, provides asset management services to Athene with respect to assets in the accounts owned by or related to Athene (“Athene Accounts”), including asset allocation services, direct asset management services, asset and liability matching management, mergers and acquisitions asset diligence, hedging and other asset management services and receives management fees for providing these services. The Company, through ISG, also provides sub-allocation services with respect to a portion of the assets in the Athene Accounts. Apollo, through its asset management business, managed or advised $366.8 billion, $331.5 billion and $304.4 billion of AUM on behalf of Athene as of June 30, 2025, December 31, 2024 and June 30, 2024, respectively.

Apollo, through ISGI, provides investment advisory services with respect to certain assets in certain portfolio companies of Apollo funds and sub-advises the Athora Accounts and broadly refers to “Athora Sub-Advised” assets as those assets in the Athora Accounts which the Company explicitly sub-advises as well as those assets in the Athora Accounts which are invested directly in funds and investment vehicles Apollo manages. The Company refers to the portion of the Athora AUM that is not Athora Sub-Advised AUM as “Athora Non-Sub Advised” AUM. See note 15 to the condensed consolidated financial statements for more details regarding the fee arrangements with respect to the assets in the Athora Accounts. Apollo managed or advised $58.7 billion, $52.4 billion and $50.3 billion of AUM on behalf of Athora as of June 30, 2025, December 31, 2024 and June 30, 2024, respectively.

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The following tables summarize changes in total AUM for Apollo’s investing strategies within the Asset Management segment:

Three months ended June 30, 20252024(In millions)CreditEquityTotalCreditEquityTotalChange in Total AUM1:Beginning of Period$641,345