Apollo Global Management, Inc.

Apollo is a high-growth, global alternative asset manager and a retirement services provider, founded in 1990. The company primarily operates in the U.S. through three reportable segments: Asset Management, Retirement Services, and Principal Investing. These segments are distinguished by their investment services and strategies. The Asset Management segment focuses on credit and equity investing strategies, reflecting a range of investment capabilities based on relative risk and return. As an asset manager, Apollo earns fees for providing investment management services and expertise to its clients. The amount of fees depends on the underlying investment strategy, liquidity profile, and the ability to generate returns. The company also earns capital solutions fees from its growing capital solutions business and from monitoring and deployment activity alongside its private equity franchise. After expenses, the resulting earning stream is called "Fee Related Earnings" or "FRE," which is the primary performance measure for this segment. As of December 31, 2025, Apollo had total Assets Under Management (AUM) of $938.4 billion. The Asset Management segment had a team of approximately 4,130 employees, including 600 employees of Bridge, as of December 31, 2025, with offices worldwide. This team possesses a broad range of transaction, financial, managerial, and investment skills. The asset management business operates in a highly integrated manner, with investment teams collaborating across disciplines to enable clients to invest across a company's capital structure. The objective is to achieve superior long-term risk-adjusted returns for clients.