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 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 reportedly highlighted growing investment opportunities across infrastructure, energy, defence, manufacturing and computing capacity as businesses expand capital expenditure.
Despite the growth, 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, with Apollo CEO Marc Rowan having pledged to improve transparency and liquidity across private markets.
