Global alternative investment major Apollo Global Management posted a 13% rise in fourth-quarter profit, surpassing Wall Street estimates, driven by record debt origination and strong inflows from clients, according to a report by Bloomberg.
The firm originated $97bn in new loans and investments during the quarter, boosting fee-related earnings by 25% year-on-year. Shares rose more than 3% following the results.
Total inflows of $42bn pushed Apollo’s assets under management to $938bn, inching cl...
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