Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 219

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 219
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 $111,751 $99,227 $132,414 $33,334 $45,347 $177,761 1 Accord funds have investment periods shorter than 24 months, therefore Gross and Net IRR are presented after 12 months of investing. 2 The general partners and managers of Funds I, II and MIA, as well as the general partner of Fund III, were excluded assets in connection with the reorganization of the Company that occurred in 2007. As a result, Apollo did not receive the economics associated with these entities. The investment performance of these funds, combined with Fund IV, is presented to illustrate fund performance associated with Apollo’s investment professionals.3 Total IRR is calculated based on total cash flows for all funds presented.4 Data has not been presented as the fund’s effective date is less than 24 months prior to the period indicated and such information was deemed not meaningful.5 Vintage Year is not yet applicable as the fund has not had its final closing.

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Equity

The following table summarizes the investment record for distressed investments made in our traditional private equity fund portfolios since the Company’s inception. All amounts are as of March 31, 2025.

(In millions, except percentages)Total Invested CapitalTotal ValueGross IRRDistressed for Control$8,532 $19,663 29 %Non-Control Distressed6,374 12,569 71 Total14,906 32,232 49 Corporate Carve-outs, Opportunistic Buyouts and Other Credit173,620 130,335 21 Total$88,526 $162,567 39 %1 Other Credit is defined as investments in debt securities of issuers other than portfolio companies that are not considered to be distressed.

The following tables provide additional detail on the composition of the Fund X, Fund IX and Fund VIII private equity portfolios based on investment strategy. Amounts for Fund I, II, III, IV, V, VI and VII are included in the table above but not presented below as their remaining value is less than $100 million, the fund has been liquidated or the fund commenced investing capital less than 24 months prior to March 31, 2025 and such information was deemed not meaningful. All amounts are as of March 31, 2025.

Fund X

(In millions)Total Invested CapitalTotal ValueCorporate Carve-outs$720 $747 Opportunistic Buyouts