Key Takeaways
- • Apollo Global Management's assets under management rose 18% year-on-year to $1.07tn in Q3 2026, supported by $53bn in new inflows, according to Reuters.
- • Fee-related earnings increased 23%, driven by record quarterly fee-related revenue and margin expansion.
- • Origination rose 52% year-on-year to $114bn, while gross capital deployment grew approximately 18% during the quarter.
- • Apollo reported a GAAP net loss of $1.06bn, primarily from unrealised mark-to-market losses tied to elevated interest rates.
- • Adjusted net income, excluding notable items, reached $2.15 per share versus $2.14 a year earlier, amid scrutiny of private credit valuations and liquidity.
Summary
Apollo Global Management's assets under management increased 18% year-on-year to $1.07tn in the third quarter of 2026, supported by $53bn in new inflows and continued institutional demand for private credit and alternative investments, according to a report by Reuters. The New York-based alternative asset manager's growth reflects sustained allocator appetite for private markets strategies.
The firm reported a 23% increase in fee-related earnings, driven by record quarterly fee-related revenue and margin expansion. Adjusted net income, excluding notable items, reached $2.15 per share, compared with $2.14 a year earlier. Apollo's gross capital deployment rose approximately 18% during the quarter, while origination increased 52% year-on-year to $114bn. The firm highlighted growing investment opportunities across infrastructure, energy, defence, manufacturing and computing capacity as businesses expand capital expenditure.
Despite these operating gains, Apollo reported a GAAP net loss of $1.06bn, primarily reflecting unrealised mark-to-market losses associated with elevated interest rates. The non-cash adjustments contrasted with stronger underlying fee-related performance.
The results come amid increased scrutiny of private credit valuations and liquidity. Apollo CEO Marc Rowan has pledged to improve transparency and liquidity across private markets.
The firm reported a 23% increase in fee-related earnings, driven by record quarterly fee-related revenue and margin expansion. Adjusted net income, excluding notable items, reached $2.15 per share, compared with $2.14 a year earlier. Apollo's gross capital deployment rose approximately 18% during the quarter, while origination increased 52% year-on-year to $114bn. The firm highlighted growing investment opportunities across infrastructure, energy, defence, manufacturing and computing capacity as businesses expand capital expenditure.
Despite these operating gains, Apollo reported a GAAP net loss of $1.06bn, primarily reflecting unrealised mark-to-market losses associated with elevated interest rates. The non-cash adjustments contrasted with stronger underlying fee-related performance.
The results come amid increased scrutiny of private credit valuations and liquidity. Apollo CEO Marc Rowan has pledged to improve transparency and liquidity across private markets.
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