Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 220

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 220
---
6,287 7,865 Distressed1286 1,069 Total$7,293 $9,681 

Fund IX

(In millions)Total Invested CapitalTotal ValueCorporate Carve-outs$5,717 $11,917 Opportunistic Buyouts14,710 23,891 Distressed11,328 3,894 Total$21,755 $39,702 

Fund VIII

(In millions)Total Invested CapitalTotal ValueCorporate Carve-outs$2,704 $7,060 Opportunistic Buyouts13,344 19,816 Distressed1567 754 Total$16,615 $27,630 1 The distressed investment strategy includes distressed for control, non-control distressed and other credit. Other credit is defined as investments in debt securities of issuers other than portfolio companies that are not considered to be distressed.

125

Perpetual Capital

The following table summarizes the investment record for the perpetual capital vehicles we 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