Friday, 26 December 2014
Last updated 2 days ago
Nov 4 2011 | 10:26am ET
Alternative investments giant Apollo Global Management swung to a third-quarter loss—its first quarterly loss as a publicly-traded company.
The New York-based firm said its pretax economic net income, which excludes costs related to its March initial public offering, was a $1.14 billion loss. In the year earlier period, Apollo earned $315.3 million.
Apollo's loss can be almost entirely attributed to its share of its private equity funds' losses on the quarter: The firm's carried interest was a $1.16 billion loss on write-downs of almost $1.4 billion.
The firm's assets under management dropped by more than $6 billion on the quarter to $65.1 billion, despite a $500 million mandate from a sovereign wealth fund it announced yesterday.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.