Apollo Profit Soars

May 6 2013 | 3:09pm ET

Apollo Global Management posted a 76% jump in first-quarter profit on increasing values of its private-equity holdings and some asset sales.

The alternative investments giant said its economic net income after taxes was $741.3 million in the first three months of the year, up from $422.3 million in the year-earlier period and easily beating analysts' expectations. Under generally accepted accounting principles, Apollo's profit rose to $249 million, up from $98 million.

The firm's private-equity holdings increase in value by 14% on the quarter, and its assets under management rose to $114.3 billion. Its Fund VII has enjoyed a 28% internal rate of return, while its Fund VI has produced a 10% return.

Apollo said it would pay a 57 cent dividend.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note