Global alternative investment major Apollo Global Management posted a 13% rise in fourth-quarter profit, surpassing Wall Street estimates, driven by record debt origination and strong inflows from clients, according to a report by Bloomberg.
The firm originated $97bn in new loans and investments during the quarter, boosting fee-related earnings by 25% year-on-year. Shares rose more than 3% following the results.
Total inflows of $42bn pushed Apollo’s assets under management to $938bn, inching closer to CEO Marc Rowan’s goal of $1tn this year and $1.5tn by 2029. Direct lending and asset-backed finance were key drivers, generating $226m in fees.
Apollo emphasised that less than 2% of its portfolio is in the software sector, responding to recent market volatility triggered by AI concerns. Rowan said the firm is “not stuck with a portfolio of things we purchased at very high prices” and that its 2026 performance will be largely independent of equity market swings.
Adjusted net income per share came in at $2.47, well above the $2.05 consensus estimate. Management fees from credit outpaced equity fees, highlighting Apollo’s growing emphasis on lending as a core revenue driver.
The firm also announced a partnership with Schroders to launch new wealth and retirement investment products, reflecting ongoing expansion into client-focused solutions beyond traditional private equity.
