Apollo Global Management, Inc.

Overview

Apollo Global Management, Inc. is a global alternative asset manager with businesses in investment management and retirement services. Its investment platform spans strategies from investment-grade credit to private equity and provides capital solutions to businesses. Through Athene, its retirement-services business, Apollo offers retirement savings products and institutional solutions. The company describes its work as serving clients’ financial-return needs, helping businesses access capital for growth, and supporting financial security through Athene.[1][2]

Apollo has an international presence, with offices across North America, EMEA, and Asia Pacific.[3] Founded in 1990, it reported approximately $1.05 trillion in assets under management as of June 30, 2026.[4][2] In 2025, Apollo reported revenue of $32.049 billion and approximately 6,140 employees as of year-end.[5][6] [1]+5

Products & services

Apollo offers credit strategies including direct origination across public and private markets, asset-backed finance in areas such as mortgages, consumer credit, receivables, aircraft lending and inventory finance, opportunistic credit, and multi-credit portfolios spanning corporate and asset-backed debt. At year-end 2025, these credit strategies had $749.2 billion in AUM, including $302.1 billion in direct origination and $282.7 billion in asset-backed finance.[7]+4

Its equity and real-asset offerings include corporate private equity for buyouts, carve-outs and liquidity solutions; Hybrid Value capital for growth, acquisitions, shareholder liquidity and balance-sheet deleveraging; and AAA, a perpetual-capital, semi-liquid strategy investing across private equity, structured equity, private credit, secondaries and real assets. Real estate strategies span core-plus/net lease, value-add and opportunistic investments, supported by investment advisory, property management, leasing, development and construction services. Infrastructure and Clean Transition Equity targets digital infrastructure, energy transition, transportation and logistics, sustainable living, and decarbonization.[12]+4

Through its retirement business, Apollo offers fixed indexed annuities that credit tax-deferred interest linked to a market index, subject to contract terms such as caps, spreads or participation rates; principal is generally protected except when surrender charges apply. Private Placement Variable Annuities provide eligible investors variable-account exposure to Apollo-managed funds and other investment options, with tax-deferred accumulation; policyholders bear investment risk. Apollo also provides portfolio management, asset allocation, acquisition diligence and operating support for Athene.[17]+2

Named wealth vehicles include Apollo Asset Backed Credit Company, Apollo Debt Solutions, Apollo Diversified Credit Fund, Apollo Diversified Real Estate Fund, Apollo Infrastructure Company, Apollo Realty Income Solutions and Apollo S3 Private Markets Fund. Apollo Debt Solutions is a perpetual-life, non-traded BDC focused on senior-secured direct origination to large companies, with additional syndicated-loan and smaller middle-market exposure; Apollo Diversified Credit Fund is an interval fund pursuing alternative-credit opportunities. Company disclosures report AUM by strategy and performance for selected vehicles, rather than product-by-product revenue shares.[20]+3 [7]+16

Geographic presence

Apollo’s FY2025 asset-management GAAP revenue was attributed 86% to the Americas, 13% to Europe, the Middle East and Africa, and 1% to Asia-Pacific. These figures apply to asset management, not all Apollo businesses; regional attribution is generally based on the country of domicile of Apollo funds.[24][25]

Apollo’s listed office footprint spans the U.S.—including New York, El Segundo, Irvine, Houston, Bethesda, Greenwich, Miami, Palm Beach, Salt Lake City, Orlando, Atlanta and Charlotte—and international locations including London, Frankfurt, Luxembourg, Amsterdam, Zurich, Mumbai, Singapore, Hong Kong, Shanghai, Seoul, Tokyo and Sydney. Its principal executive office is in New York City.[26][27]

Athene’s commercial mortgage-loan portfolio provides another measure of geographic exposure: at year-end 2025, 80.1% was in the U.S., 19.9% internationally, and 7.9% in the U.K. Retirement-services revenue is generated primarily in the U.S. and Bermuda, through entities domiciled in those two places.[28]+2 [24]+10

Business segments

Apollo reports three business segments. **Asset Management** raises, invests and manages funds and accounts across credit and equity strategies, including origination and capital solutions [31]+2. **Retirement Services** issues, reinsures and acquires retirement-savings products, principally annuities, and also offers funding agreements and guaranteed investment contracts; its business earns spread income by investing assets against long-term liabilities [34][35]. **Principal Investing** comprises realized performance fees and investment income from Apollo’s balance-sheet investments, together with specified corporate expenses and capital resources [36][37].

For FY2025, reported segment revenue was $20.2 billion: Retirement Services contributed approximately 71.5%, Asset Management 22.1%, and Principal Investing 6.4% [38]. Using Apollo’s segment-earnings measure, Segment Income, the corresponding contributions were approximately 54.0% from Retirement Services (Spread Related Earnings), 40.6% from Asset Management (Fee Related Earnings), and 5.4% from Principal Investing (Principal Investing Income) [38][39]. Revenue contribution and segment-earnings contribution are different measures [38][39]. [31]+8

Company history

Apollo Global Management was founded in 1990 by Leon Black, Joshua Harris, and Marc Rowan.[4][40] A major early milestone was its acquisition of Harrah’s Entertainment with TPG, announced in 2006 and completed in January 2008.[41][42]

Apollo completed its initial public offering in 2011.[43] In 2013, its affiliated retirement-services platform Athene completed the acquisition of Aviva USA’s U.S. annuity operations.[44] Apollo converted from a publicly traded partnership to a corporation in 2019.[45]

Marc Rowan became CEO in 2021, succeeding Leon Black, and Apollo completed its merger with Athene effective January 1, 2022.[46][47] In 2025, Apollo completed its acquisition of Bridge Investment Group.[48] [4]+9

Sources

• Apollo Global Management, Inc. — Press release (2025 Y)[1]
• Apollo Global Management, Inc. — Press release (2026 Q 2)[2]
• www.apollo.com[3]
• www.apollo.com[4]
• Apollo Global Management, Inc. — Full financial report (2025 Y)
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• www.sec.gov[6]
• Apollo Global Management, Inc. — Presentation (2026 Q 2)[20][21]
• www.apollo.com[22]
• www.sec.gov[40]
• www.sec.gov[41]
• www.sec.gov[42]
• ir.apollo.com[43]
• www.apollo.com[44]
• ir.apollo.com[45]
• www.apollo.com[46]
• www.apollo.com[47]
• ir.apollo.com[48]