Company: APO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001858681-25-000117
Chunk: 329

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 329
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$1,586 $1,324 Capital solutions fees and other, net216 208 370 349 Fee-related performance fee63 52 117 98 Fee-related compensation (279)(240)(538)(460)Other operating expenses(189)(176)(349)(333)Fee Related Earnings627 516 1,186 978 Retirement ServicesFixed income and other net investment income3,179 2,633 6,093 5,087 Alternative net investment income319 168 634 434 Strategic capital management fees32 24 61 49 Cost of funds(2,470)(1,880)(4,680)(3,603)Other operating expenses(107)(116)(221)(230)Interest and other financing costs(132)(119)(262)(210)Spread Related Earnings 821 710 1,625 1,527 Principal InvestingRealized performance fees219 175 409 269 Realized investment income13 11 41 25 Principal investing compensation(168)(138)(356)(211)Other operating expenses(17)(15)(33)(29)Principal Investing Income 47 33 61 54 Segment Income$1,495 $1,259 $2,872 $2,559 Three months ended June 30,Six months ended June 30,(In millions)2025202420252024Segment RevenueAsset Management1$1,095 $932 $2,073 $1,771 Retirement Services3,530 2,825 6,788 5,570 Principal Investing232 186 450 294 Total Segment Revenue$4,857 $3,943 $9,311 $7,635 (In millions)June 30, 2025December 31, 2024Segment AssetsAsset Management$2,648 $2,286 Retirement Services396,485 355,683 Principal Investing10,355 10,473 Total Assets$409,488 $368,442 1 Includes intersegment management fees from Retirement Services of $358 million and $719 million for the three and six months ended June 30, 2025 respectively, and $291 million and $570 million for the three and six months ended June 30, 2024, respectively.The following presents the reconciliation of Segment Income and Segment Revenue to income (loss)