Apollo Global Management Surpasses $1 Trillion in Assets After Record Inflows

Apollo Global Management reported record-breaking inflows in the first quarter, pushing its assets under management past $1 trillion. According to Jin10, the company's adjusted net income rose 8% year-over-year to $1.21 billion, or $1.94 per share, exceeding Wall Street's average expectation of $1.88 per share. The statement revealed that Apollo's total inflows for the first quarter reached $115 billion, with a cumulative inflow of $300 billion over the past 12 months. In comparison, Blackstone Group attracted $68.5 billion in the first three months of this year, while KKR and ARES Management recorded inflows of $27.8 billion and $29.5 billion, respectively. Apollo's capital solutions business saw a 60% increase in fee income. Earnings related to fees jumped 30% to $728 million, also surpassing expectations. The assets under management that generate fees grew 40% to $836 billion.