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A Look at Apollo Global Management's 2Q17 Earnings

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Part 2
A Look at Apollo Global Management's 2Q17 Earnings PART 2 OF 8

Apollo’s Private Equity Division Sees Fall in Total Revenue

Total revenue

Between 1Q17 and 2Q17, Apollo Global Management’s (APO) private equity division witnessed a decline in its total revenue. In 2Q17, the division’s total revenue stood at $134.7 million, compared with $408.2 million in 1Q17. This fall was mainly due to a decline in the division’s carried interest income. In 2Q17, the division saw carried interest income of $38.1 million, compared with $319 million in 1Q17.

Apollo&#8217;s Private Equity Division Sees Fall in Total Revenue

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In 2Q17, Apollo’s private equity funds saw gross appreciation of 1.9%, which was partially offset by a fall in energy investments. The division’s inflow was $23.8 billion. The company has a positive outlook on its Fund VIII, and expects the private equity fund to benefit the division through carry generation in the long term. The private equity division deployed $723 million in 2Q17.

Assets under management

In 2Q17, Apollo’s private equity division had AUM (assets under management) of $68 billion. As of June 30, 2017, alternative asset manager (XLF) peers’ private equity AUM were as follows:

  • The Carlyle Group (CG): $54.3 billion
  • KKR (KKR): $84.9 billion
  • The Blackstone Group (BX): $100 billion
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