Apollo World Administration reported document fee-related earnings of $599m (£450.1m) within the first quarter of the 12 months however revenue dropped by nearly $1bn year-on-year to $418m, lacking Metropolis estimates.
The choice asset supervisor’s income for the interval fell 21.2 per cent to $5.548m.
Nevertheless, Apollo reported document inflows of $43bn through the first quarter, noting notably sturdy demand for its credit-focused methods.
Learn extra: Apollo closes on $8.5bn in commitments for ‘Accord+’ credit score technique
Document quarterly inflows from its insurance coverage enterprise Athene of $26bn have been pushed by document funding settlement issuance and circulate reinsurance quantity, and continued power in retail annuity gross sales, Apollo mentioned.
Whole belongings beneath administration elevated by 17 per cent year-on-year to $114bn.
Apollo’s hybrid worth funds – which offer a mixture of debt and fairness finance to corporates – carried out probably the most strongly, returning 3.8 per cent within the first quarter of 2025 and 19.3 per cent over the previous 12 months.
This was adopted by Apollo’s direct origination credit score funds, which returned 2.6 per cent and 11.8 per cent respectively.
Asset-backed finance methods additionally carried out nicely, returning 2.6 per cent and 11.2 per cent.
Learn extra: Apollo buys bonds linked to personal credit score funds
“Our first-quarter outcomes spotlight Apollo’s strengths and our capability to navigate shifting market situations,” mentioned chairman and chief government Marc Rowan.
“In asset administration, we generated document natural inflows, sturdy origination quantity, and delivered stable funding efficiency throughout all main methods.
In retirement providers, in line with our longstanding method of positioning the enterprise to grab alternative, we accelerated new enterprise development and invested conservatively to have the ability to redeploy into widening spreads.
“Armed with broad origination capabilities and a sturdy pipeline, vital dry powder, and a purchase order value issues philosophy, we’re uniquely constructed to thrive amid volatility and dislocation.”
Learn extra: Apollo companions with wealth administration platform InvestCloud
