Apollo Global Management reported a 1.2% increase in assets under management to $461.1 billion as of March 31 from three months earlier and up 46.1% from a year earlier.
Apollo attributed the increase from Dec. 31 to appreciation in its private equity portfolio and fundraising in its flagship funds. Apollo's private equity funds appreciated 22% on a total-return basis before fees and expenses in the first quarter from its public and private portfolio companies.
The firm reported $13.4 billion in inflows in the quarter and $128.8 billion in the year ended March 31. Apollo executives invested $24.9 billion in the first quarter and $92.3 billion in the 12-month period ended March 31.
Apollo has $49.7 billion in dry powder.