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Money Management

Apollo Global Management’s assets show slight increase in quarter, 11.8% rise for year

Apollo Global Management on Wednesday reported $270.2 billion in assets under management as of Sept. 30, up 0.3% from three months earlier and 11.8% higher than a year earlier.

Capital inflows of $4.3 billion in the latest quarter helped boost the alternative investment manager's AUM, according to Apollo's financial statements.

Assets under management in credit totaled $182.6 billion as of Sept. 30, down 0.4% from June 30 but up 15.6% from Sept. 30, 2017. Private equity AUM was $72.2 billion, up 0.7% from three months earlier and 2.4% higher than a year earlier. Real assets totaled $15.4 billion, up 7.6% from June 30 and 16.7% higher than Sept. 30, 2017.

Management fees in the third quarter were $358.8 million, 5% higher than the second quarter and up 19% from the third quarter of 2017. Net advisory and transaction fees totaled $13.2 million, down 14.3% from the previous quarter and 18.5% below the year-earlier quarter.

Total investment income for the third quarter was $141 million, down 6.8% from the second quarter and 63.3% below the third quarter of 2017. Incentive fees were $4.8 million, down 68% from the previous quarter and 50.5% less than the year-earlier quarter.

GAAP net income was $362.7 million, up 152% from the previous quarter but down 16.5% from the year-ago quarter.

Apollo had $48.2 billion in dry powder as of Sept. 30.