Company: APO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001858681-25-000034
Chunk: 13

Company: Apollo Global Management, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 13
---
 45 15 9 24 1 41 42 (62)116 54 HVF II168 — 168 — 168 — — — — — — MidCap Financial43 38 5 38 43 (143)57 (86)36 19 55 Redding Ridge Holdings164 118 45 35 80 27 34 61 (8)23 15 Other1,3617 521 69 294 363 31 230 261 49 158 207 Total$3,467 $3,072 $264 $1,128 $1,392 $118 $888 $1,006 $(2)$667 $665 Total, net of profit sharing payable4/expense$1,684 $1,507 $118 $516 $634 $(54)$335 $281 $(17)$130 $113 1 As of December 31, 2024, certain funds had $213 million in general partner obligations to return previously distributed performance fees. The fair value gain on investments and income at the fund level needed to reverse the general partner obligations was $2.1 billion as of December 31, 2024. 2 As of December 31, 2024, the remaining investments and escrow cash of Fund VIII was valued at 86% of the fund’s unreturned capital, which was below the required escrow ratio of 115%. As a result, the fund is required to place in escrow current and future performance fee distributions to the general partner until the specified return ratio of 115% is met (at the time of a future distribution) or upon liquidation. As of December 31, 2024, Fund VIII had $138 million of gross performance fees or $80 million net of profit sharing, in escrow. With respect to Fund VIII, realized performance fees currently distributed to the general partner are limited to potential tax distributions and interest on escrow balances per the fund’s partnership agreement. Performance fees receivable as of December 31, 2024 and realized performance fees for the year ended December 31, 2024 include interest earned on escrow balances that is not subject to contingent repayment. 3 Other includes certain SIAs. 4 There was a corresponding profit sharing payable of $1.8 billion as of December