Apollo Global Management's assets under management reached $186.3 billion as of June 30, up 8% from the first quarter and up 14.6% year-over-year, said the company's second-quarter earnings release on Wednesday.
The quarterly AUM increase was due to net inflows of $13.3 billion and $1.8 billion in market gains, which was partially offset by $1.3 billion in realizations.
Private equity AUM totaled $41.2 billion as of June 30, up 9.3% from March 31 and up 4.8% from June 30, 2015; credit AUM totaled $133.9 billion, up 8.1% and up 18.8% during the same periods, respectively; and real estate AUM totaled $11.2 billion, up 1.8% and up 5.7%, respectively.
GAAP net income was $415.8 million in the quarter, compared to a net loss of $74.6 million in the first quarter and net income of $148.1 million in the year-earlier quarter.
Total revenue was $660.4 million in the second quarter, compared to $120.8 million in the first quarter and $351.7 million in the second quarter of 2015. Of the total revenue, advisory and transaction fees were a net gain of $64.9 million vs. $8 million and $15.5 million in the first quarter and year-over-year, respectively. Management fees were $267.1 million, up 14.2% from the previous quarter and up 15.8% from the year-earlier quarter. Carried interested was a net gain of $328.5 million, compared to a net loss of $121 million in the first quarter and a net gain of $105.7 million in the second quarter of 2015.