A P O L L O G L O B A L M A N A G E M E N T Apollo Global Management, LLC Fourth Quarter and Full Year 2018 Earnings Exhibit 99.2 January 31, 2019
($ in millions, except per share data) 4Q\'18 Per Share FY\'18 Per Share • Economic Net Loss (“ENI”)1 ($406.1) ($1.01) ($84.6) ($0.21) • Fee Related Earnings (“FRE”) $255.6 $0.62 $771.2 $1.87 • Distributable Earnings (“DE”) After Taxes…
GAAP Consolidated Statements of Operations (Unaudited) ($ in thousands, except share data) 4Q\'17 3Q\'18 4Q\'18 FY\'17 FY\'18 Revenues: Management fees $302,634 $358,750 $358,150 $1,154,925 $1,345,252 Advisory and transaction fees,…
GAAP Consolidated Statements of Financial Condition (Unaudited) ($ in thousands, except share data) As of December 31, 2018 As of December 31, 2017 Assets: Cash and cash equivalents $609,747 $751,273 Restricted cash 3,457 3,875…
($ in thousands, except per share data) 4Q\'17 3Q\'18 4Q\'18 FY\'17 FY\'18 Management Fees $280,920 $339,905 $344,716 $1,082,315 $1,282,688 Advisory and Transaction Fees, Net 62,719 12,972 70,021 117,624 111,567 Performance Fees…
Reconciliation of GAAP to Non-GAAP Measures ($ in thousands) 4Q\'17 1Q\'18 2Q\'18 3Q\'18 4Q\'18 FY\'17 FY\'18 GAAP Net Income (Loss) Attributable to Apollo Global Management, LLC Class A Shareholders $184,893 ($62,645) $54,658 $162,357…
Fee Related Earnings Rollforward Quarterly Trailing FRE 4Q\'18 FRE Bridge 1) FRE margin is calculated as Fee Related Earnings divided by fee-related revenues (which includes management fees, transaction and advisory fees, certain…
primarily resulting from the depreciation of Athene Holding (NYSE: ATH) • Credit gross return2 of (2.1%) for the quarter amid a challenging market backdrop; FY’18 gross return2 of 2.2% resulting from positive returns across fund…
Private Equity $69 billion AUM Committed $4bn2 4Q\'18 FY\'18 Inflows $2.8bn $6.6bn Deployment $2.3bn $5.5bn Realizations $1.3bn $4.5bn Performance1 (10.9%) (9.8%) • Economic Loss driven by the reversal of unrealized performance…
Public Investments 20% Private Investments 80% $15.9 billion Unrealized Value Investment Mix ADT 11% OMF 4% PSDO 4% Public Debt / Other 2% Unrealized Value by Sector Realized Value $0.8bn Unrealized Value $1.8bn Dry…
Commentary Business Drivers Supplemental Information 4Q\'18 FY\'18 Inflows $2.9bn $6.5bn Deployment $2.1bn $6.3bn Realizations $353mm $1.3bn Performance1 (0.3%) 10.2% $18 billion AUM Equity $5bn Debt $13bn Real Assets 1)…
Total AUM & Fee-Generating AUM Total AUM Highlights Fee-Generating AUM Highlights 4Q\'18 Total AUM Rollforward1 4Q\'18 Fee-Generating AUM Rollforward1 Inflows: Capital raised for Catalina transaction ($915 million); Hybrid Value Fund…
Segment Balance Sheet Highlights 1) Amounts are presented on an unconsolidated basis. 2) Profit sharing payable excludes profit sharing expected to be settled in the form of equity-based awards. 3) Represents Apollo’s general partner…
Net Performance Fee Receivable & Investment Rollforwards ($0.82) ($0.05) +$0.21 $1.15 Note: All per share figures calculated using Distributable Earnings Shares Outstanding. 1) Ending per share amounts in the rollforwards may not sum…
Performance Fees Receivable & Performance Fees Detail As of December 31, 2018 4Q\'18 FY\'18 ($ in thousands) Performance Fees Receivable on an Unconsolidated Basis Unrealized Performance Fees Realized Performance Fees Total…
Permanent Capital Vehicles 2010 2012 2014 2016 2018 Period Ending $7 $25 $72 $87 $136 10% 22% 45% 47% 49% ($ in millions, except where noted) 4Q\'18 Athene1 $108,790 MidCap 8,771 Athora1 7,984 Apollo Commercial Real Estate…
Athene and Athora AUM 2010 2012 2014 2016 2018 $5 $8 Sub-Advised AUM by Asset Category Athene and Athora ($ in billions) 4Q\'18 Credit $16.4 Liquid/Performing 15.1 Drawdown 1.3 Private Equity $1.6 Real Assets $8.2 Debt 7.0…
Appendix
($ in thousands) 4Q\'17 1Q\'18 2Q\'18 3Q\'18 4Q\'18 FY\'17 FY\'18 Total Revenues (GAAP) $928,271 $166,903 $523,316 $517,731 ($114,885) $2,771,803 $1,093,065 Equity awards granted by unconsolidated related parties, reimbursable expenses…
The following table sets forth Apollo’s total segment expenses for the combined segments • The following table sets forth Apollo’s total segment revenues for the combined segments ($ in thousands) 4Q\'17 1Q\'18 2Q\'18 3Q\'18 4Q\'18…
Credit ($ in thousands, except where noted) 4Q\'17 1Q\'18 2Q\'18 3Q\'18 4Q\'18 FY\'17 FY\'18 Management fees $186,108 $183,070 $184,587 $196,507 $199,794 $702,191 $763,958 Advisory and transaction fees, net 20,249 2,348 2,284 2,310…
Private Equity ($ in thousands, except where noted) 4Q\'17 1Q\'18 2Q\'18 3Q\'18 4Q\'18 FY\'17 FY\'18 Management fees $75,982 $71,160 $122,812 $123,304 $123,443 $306,734 $440,719 Advisory and transaction fees, net 42,417 10,598 13,294…
Real Assets ($ in thousands, except where noted) 4Q\'17 1Q\'18 2Q\'18 3Q\'18 4Q\'18 FY\'17 FY\'18 Management fees $18,830 $17,973 $18,465 $20,094 $21,479 $73,390 $78,011 Advisory and transaction fees, net 53 48 2 4,737 7,865 2,828…
Reconciliation of GAAP Net Income Per Class A Share to Non-GAAP Per Share Measures ($ in thousands, except share data) 4Q\'17 1Q\'18 2Q\'18 3Q\'18 4Q\'18 FY\'17 FY\'18 Net Income (Loss) Attributable to Apollo Global Management, LLC…
Walkdown of Non-GAAP Measures 4Q\'18 FY\'18 Results Per Share Results Per Share Economic Net Income Distributable Earnings After Taxes and Related Payables Fee Related Earnings Management fees $344,716 $1,282,688 Advisory and…
($ in thousands, except per share data) 4Q\'17 3Q\'18 4Q\'18 FY\'17 FY\'18 Distributable Earnings $327,560 $244,902 $271,030 $1,010,002 $963,707 Taxes and Related Payables1 (5,993) (9,734) (9,445) (26,337) (44,215) Preferred…
4Q\'17 1Q\'18 2Q\'18 3Q\'18 4Q\'18 FY\'17 FY\'18 Total GAAP Weighted-Average Class A Shares Outstanding: Basic 193,609,614 198,432,603 200,711,475 200,347,996 200,269,856 190,931,743 199,946,632 Non-GAAP Adjustments: Apollo Operating…
Unaudited Supplemental Presentation of Statement of Financial Condition As of December 31, 2018 ($ in thousands) Apollo Global Management, LLC and Consolidated Subsidiaries1 Consolidated Funds and VIEs Eliminations Consolidated…
Investment Records as of December 31, 2018 30 Drawdown ($ in millions) Vintage Year1 Total AUM Committed Capital Total Invested Capital1 Realized Value1 Remaining Cost1 Unrealized Value1 Total Value1 Gross IRR1 Net IRR1 Private…
Investment Records – Notes Note: The Drawdown funds included in the investment record table on page 30 have greater than $500 million of AUM and/or form part of a flagship series of funds. The SIAs included in the investment record…
Investment Records as of December 31, 2018 Liquid/Performing Net Returns ($ in millions) Vintage Year Total AUM 4Q\'18 FY\'18 4Q\'17 FY\'17 Credit: Hedge Funds1 Various $7,159 (4%) 1% 2% 5% CLOs2 Various 14,371 (2) 1 1 4 SIAs /…
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