**Apollo Global Management Reports Second Quarter 2025 Results**
Apollo Global Management, Inc. (AGM) reported its financial results for the second quarter of 2025, showcasing a mix of performance across its segments. The Asset Management segment saw revenues of $1.11 billion, up from $1.05 billion in the same period last year, driven by increases in management fees ($583 million) and advisory and transaction fees ($277 million). However, investment income decreased to $189 million. The Retirement Services segment reported revenues of $5.71 billion, compared to $4.96 billion in the prior year, with net investment income reaching $4.78 billion. Overall, the company's total revenues were $6.81 billion for the quarter, compared to $6.02 billion for the same period in 2024.
The company's expenses also saw changes. In the Asset Management segment, compensation and benefits remained relatively stable at $602 million, while general, administrative, and other expenses increased to $370 million. The Retirement Services segment experienced a significant increase in interest-sensitive contract benefits, rising to $3.43 billion. Net income attributable to Apollo Global Management, Inc. was $630 million, compared to $853 million in the second quarter of 2024. Basic earnings per share were $1.00, and diluted earnings per share were $0.99.
Key operational developments included Assets Under Management (AUM) reaching $840 billion as of June 30, 2025. Fee-Generating AUM was $638.3 billion, with $562.0 billion in credit and $76.3 billion in equity. The company also reported $72 billion in dry powder. Gross capital deployment for the quarter was $108 billion, with $85 billion in credit and $23 billion in equity. The company also noted that it entered into a definitive agreement to acquire Bridge Investment Group Holdings Inc. in an all-stock transaction, expected to close in the third quarter of 2025.
Looking ahead, Apollo is focused on continuing to grow its AUM and Fee Related Earnings (FRE). The company is also focused on expanding its origination capabilities and deploying capital into strategic investments. However, the company acknowledged that its performance is subject to various risks, including market conditions, interest rate fluctuations, and regulatory changes. The company is also monitoring the potential impact of the One Big Beautiful Bill Act, which includes a broad range of tax reform provisions.
About Apollo Global Management, Inc.
Apollo Global Management, Inc. is a global alternative asset manager and retirement services provider. It operates through three segments: Asset Management, Retirement Services, and Principal Investing. Apollo manages diverse credit and equity investment strategies, including direct origination, asset-backed finance, private equity, real estate, and infrastructure. Serving institutional and individual investors, it emphasizes a contrarian, value-oriented approach focused on capital preservation and long-term risk-adjusted returns across economic cycles.
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