Apollo Global Management Surprises with Stellar Fourth-Quarter Earnings

Apollo Global Management exceeded fourth-quarter profit expectations, driven by strong fee growth and robust retirement business performance. The asset manager took in $33 billion of inflows and increased assets under management by 15%, setting ambitious targets for future growth. Shares rose 4% in response to the news.

Apollo Global Management reported impressive fourth-quarter earnings, surpassing analyst expectations and driving shares up 4% in premarket trading. The alternative asset manager benefited from increased fees and a solid showing in its retirement business.

The firm attracted $33 billion in inflows, fueled by its credit-focused strategies and wealth products, resulting in a 15% rise in assets under management to $751 billion. Apollo has ambitious plans to manage $1 trillion by 2026 and $1.5 trillion by 2029.

Fee-related earnings reached a record $554 million, while spread-related earnings grew to $841 million. CEO Marc Rowan, extended for another five years, continues to steer Apollo towards these bold growth targets, amidst a backdrop of strong market performance and strategic investments.