Apollo Global Management reported assets under management of $163.9 billion as of Sept. 30, down 2.1% from three months earlier and up 45.4% from a year earlier, the company reported Thursday in its third-quarter earnings statement.
The year-to-year increase in AUM was attributed to the growth in Apollo's credit and private equity business.
Credit AUM totaled $107.7 billion, nearly double the $59.4 billion from a year earlier, while private equity AUM totaled $46.2 billion, up 7.9% from 12 months earlier and real estate AUM totaled $9 billion, down 3.2% from the previous year.
U.S. GAAP net income was $2.2 million for the third quarter, compared to $192.5 million for the third quarter of 2013.
Total gross carried interest in the third quarter was a $57 million loss. In the third quarter of 2013, carried interest income totaled $952 million.
Gross management fees rose to $207.3 million for the quarter ended Sept. 30, up 37.2% from the year-earlier quarter.
Advisory and transaction fees from affiliates, net of limited partner rebates, rose to $71.1 million, up 145% from the same period a year ago. Gross advisory and transaction fees were not available by press time.