Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 58

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 58
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ressed11,259 3,737 Total$21,552 $39,337 

Fund VIII

(In millions)Total Invested CapitalTotal ValueCorporate Carve-outs$2,704 $7,071 Opportunistic Buyouts13,270 19,686 Distressed1567 753 Total$16,541 $27,510 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.

100

Perpetual Capital

The following table summarizes the investment record for the perpetual capital vehicles we manage, excluding Athene and Athora-related assets.

Total Returns1(In millions)IPO Year2Total AUMFor the Year Ended December 31, 2024For the Year Ended December 31, 2023MidCap Financial3N/A$12,692 18 %24 %MFIC420043,908 14 %35 %ADS5N/A17,134 11 %16 %ARI420099,102 (8)%24 %ADREF6N/A5,691 4 %(3)%ADCF6N/A1,442 12 %15 %ARIS6N/A1,253 6 %N/AOther7N/A11,444 N/AN/ATotal$62,666 1 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. 2 An initial public offering (“IPO”) year represents the year in which the vehicle commenced trading on a national securities exchange. 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 15% and 26% for the years ended December 31, 2024 and 2023, respectively.4 AUM is presented on a three-month lag, as of September 30, 2024, based upon the availability of the information.5 ADS is not a publicly traded vehicle and therefore IPO year is not applicable. The returns presented are net returns based on NAV.6 ADREF, ADCF and ARIS are not publicly traded vehicles and therefore IPO years are not applicable. The returns presented