Apollo Global Management reported $312 billion in assets under management as of June 30, up 2.9% from March 31 and 15.7% from a year ago, according to the alternative investment firm's data released Wednesday.
Apollo attributed the growth to strong investment performance.
Credit AUM was $201.2 billion as of June 30, up 39% from March 31 and 23.3% from the end of the year-earlier quarter. Private equity AUM was $77.1 billion, flat from the end of the prior quarter and a 2% drop from the quarter ended June 30, 2018. Real assets AUM was $33.5 billion as of June 30, up 4.7% from the quarter ended March 31 and a 22.3% increase from the end of 2018's second quarter.
Management fees were $388.2 million in the second quarter, a gain from $380 million in the first quarter and $341.6 million in the quarter ended June 30, 2018.
Advisory and transaction fees were $31.1 million in the quarter, higher than the $19.6 million reported in the first quarter and the $15.4 million in the second quarter of 2018.
Apollo earned incentive fees of $776,000 in the second quarter, compared to $660,000 in the prior quarter and $15 million in the year-ago quarter.
Total investment income was $216.5 million in the quarter, down from $277.5 million in the first quarter and up $151.3 million in the second quarter of 2018.
Apollo had GAAP net income of $342.2 million for the quarter, compared with $315.6 million for the first quarter and $143.8 million in the year-earlier quarter.
