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Apollo’s AUM increases 3% in quarter, 30% for year

Leon Black, chairman and CEO of Apollo Global Management

Apollo Global Management reported $248.9 billion in assets under management as of Dec. 31, up 3% from Sept. 30 and up 30% from a year earlier, according to the alternative investment firm's earnings report Thursday.

Apollo reported $7.6 billion in gross inflows for the quarter and $56.5 billion for the year ended Dec. 31. By comparison, Apollo had capital inflows of $7.9 billion in the third quarter and $6.6 billion during the fourth quarter of 2016.

Credit AUM grew by 4% in the quarter and 20% for the year to $164 billion. Private equity AUM was $72.4 billion as of Dec. 31, up 3% from Sept. 30 and up 66% year-over-year. Real assets AUM was $12.4 billion, down 6% from three months earlier and up 8% from Dec. 31, 2016.

Apollo earned $280.9 million in management fees in the fourth quarter and $1.1 billion in the year ended Dec. 31. By comparison, Apollo collected $268 million from management fees in the fourth quarter and $1 billion from management fees for the entire year of 2016. Advisory and transaction fees were $62.7 million for the quarter and $117.6 million for the year, compared to $44 million in the fourth quarter of 2016 and $147 million for 2016. Carried interest was $202.8 million for the quarter and $649 million for the year, compared to carried interest of $373 million in the fourth quarter of 2016 and $780.2 million for the year ended Dec. 31, 2016.

GAAP net income was $461.3 million in the quarter and $1.44 billion for the year, compared to $434.4 million in the third quarter and $402.9 million for the year ended Dec. 31, 2016.