Friday, 22 August 2014
Last updated 5 hours ago
Feb 13 2013 | 12:49pm ET
Apollo Global Management's fourth-quarter profit more than doubled as the private-equity firm took advantage of robust markets.
The New York-based firm's economic net income, excluding some costs from its 2011 initial public offering, was $655.8 million, up from $302 million in the year-earlier period. Under generally accepted accounting principles, Apollo earned $171.5 million, up from just $10.9 million in the fourth quarter of last year.
Much of the gain came from exiting investments, the firm said. Its private-equity holdings rose 9% in value on the quarter.
Apollo's assets under management rose slightly, from $109.7 billion to $113.4 billion, in the last three months of 2012.
The firm said it would pay a $1.05 per common share dividend at the end of the month.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note