Company: APO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001858681-25-000049
Chunk: 202

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 202
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 to a portion of the assets in the Athene Accounts. Apollo, through its asset management business, managed or advised $348.6 billion, $331.5 billion and $293.1 billion of AUM on behalf of Athene as of March 31, 2025, December 31, 2024 and March 31, 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 $54.1 billion, $52.4 billion and $51.6 billion of AUM on behalf of Athora as of March 31, 2025, December 31, 2024 and March 31, 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 March 31, 20252024(In millions)CreditEquityTotalCreditEquityTotalChange in Total AUM1:Beginning of Period$616,387 $134,650 $751,037 $515,523 $135,253 $650,776 Inflows237,577 9,122 46,699 36,856 2,360 39,216 Outflows2(19,941)(315)(20,256)(17,940)(1,800)(19,740)Net Flows17,636 8,807 26,443 18,916 560 19,476 Realizations(1,350)(2,100)(3,450)(5,056)(2,586)(7,642)Market Activity38,672 2,456 11,128 6,881 1,513 8,394 End of Period$641,345 $143,813 $785,158 $