MONEY MANAGEMENT

Apollo Global assets up for quarter, year

Updated with correction Aug. 11, 2011.

Apollo Global Management on Tuesday reported unaudited total assets under management of $72 billion as of June 30, up 2.9% from three months earlier and 31% higher than a year earlier.

The increase in AUM for the 12 months was attributed to appreciation in the underlying value of the fund investments, according to the company's earnings report.

Private equity AUM was $40.4 billion, up 2% from the first quarter; capital markets totaled $23.7 billion, down less than 1%; and $7.6 billion in real estate, up 17%.

Apollo had a net loss of $51 million in the second quarter, compared to $38.2 million in net revenue in the first quarter and a $75 million net loss in the second quarter 2010. Total second-quarter revenue was $309 million, down 56% from the first quarter but 281% higher than the second quarter of 2010.

Carolyn Sargent, spokeswoman, was unable to provide further information by press time.