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 Private Equity Wire. 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.
AUM growth tied to inflows and institutional demand
Apollo said the AUM increase to $1.07tn in Q3 2026 was supported by $53bn in new inflows, alongside what it described as continued institutional demand for private credit and alternative investments, according to Private Equity Wire. The report attributed the figures to a Reuters report.
Fee-related earnings and adjusted net income
Apollo reported fee-related earnings increased 23%, and it said the increase was driven by record quarterly fee-related revenue and margin expansion, according to Private Equity Wire. Adjusted net income, excluding notable items, reached $2.15 per share, compared with $2.14 a year earlier.
Deployment and origination activity
Apollo’s gross capital deployment rose approximately 18% during the quarter, according to the same report. Origination increased 52% year-on-year to $114bn.
The firm highlighted growing investment opportunities across infrastructure, energy, defence, manufacturing and computing capacity as businesses expand capital expenditure, according to the report.
GAAP net loss and valuation scrutiny backdrop
Apollo reported a GAAP net loss of $1.06bn, primarily reflecting unrealised mark-to-market losses associated with elevated interest rates, according to Private Equity Wire. The report said the non-cash adjustments contrasted with stronger underlying fee-related performance.
The results were reported as coming amid increased scrutiny of private credit valuations and liquidity, and the report said Apollo CEO Marc Rowan had pledged to improve transparency and liquidity across private markets.
