Exhibit 99.2 APOLLO GLOBAL MANAGEMENT Apollo Global Management, LLC Second Quarter 2019 Earnings July 31, 2019
Apollo 2Q'19 Financial Results Highlights ( in millions, except per share data) 2Q'19 Per Share YTD'19 Per Share GAAP Net Income 342.2 N/A 657.7 N/A Results Net Income Attributable to Apollo Global Management, LLC 155.7 0.75 295.6…
GAAP Consolidated Statements of Operations (Unaudited) Net Income was 342.2 million for the quarter ended June 30, 2019; Net Income Attributable to Apollo Global Management, LLC Class A shareholders was 155.7 million for the quarter ended…
Total Segments ( in thousands, except per share data) 2Q'18 1Q'19 2Q'19 YTD'18 YTD'19 Management fees 325,864 358,623 366,311 598,067 724,934 Advisory and transaction fees, net 15,580 19,060 31,062 28,574 50,122 Performance fees1…
Fee Related Earnings Rollforward FRE of 0.58 per share up 29% year-over-year fueled by growth of our management fees; quarter-over-quarter FRE growth primarily driven by higher advisory and transaction fees and performance fees…
Distributable Earnings and Distribution Despite light performance fee realizations, DE per share increased 8% year-over-year, fueled by strong FRE growth Distributable Earnings per Share1 Distribution per Share1 0.60 0.56 0.56…
Assets Under Management Total AUM increased to 311.9 billion, driven by 12.2 billion of inflows during the quarter, primarily from growth in Athene as well as corporate credit and structured credit; inflows over the twelve months ended…
Performance Fee Assets Under Management Total Performance Fee-Generating AUM increased to 62.2 billion and grew 11% year-over-year, driven by strong performance in our credit segment Performance Fee-Eligible AUM Performance…
Total AUM & Fee-Generating AUM Total AUM Rollforward1 Fee-Generating AUM Rollforward1 Private Private Credit Real Assets Total Credit Real Assets Total ( in millions) Equity ( in millions) Equity 1Q'19 193,669 77,325 32,000 302,994…
Capital Deployment, Dry Powder & Performance Fee-Eligible AUM Dry Powder Composition Performance Fee-Eligible AUM ( in billions) ( in billions) Credit Real Uninvested Assets Performance 5.8 Fee-Eligible AUM 4.4 44.1 Currently 44…
Permanent Capital Vehicles, Athene, and Athora Permanent Capital AUM Supplemental Information 154 ( in billions) 1Q'19 2Q'19 ( in billions) 136 Athene 114.2 119.0 Athora 13.9 13.7 87 72 MidCap 8.7 9.1 47% 49% 49% 45% ARI 5.4…
Net Performance Fee Receivable Rollforward Net Performance Fee Receivable1 (Per Share2) Net Performance 1.83 1.83 1.81 Fees/Other3 Net Realized Performance Fees +0.32 1.55 (0.07) 1.29 1.15 1Q18 2Q'18 3Q'18 4Q'18…
Segment Highlights
Credit Commentary Total AUM increased 4% quarter-over-quarter to 201 billion, driven by growth in Athene as well as corporate credit and Advisory and ( in billions) structured credit Other Direct 27.8 Fee-generating inflows of 43…
Private Equity Commentary Total AUM remained at 77 billion at quarter end, as inflows and market activity were offset by realizations during Natural ( in billions) Resources the quarter Hybrid 6.2 Generated inflows of 0.8 billion…
Supplemental Private Equity Fund Information1 Fund VII Fund VIII ANRP II PE Portfolio Composition Vintage Year: 2008 Vintage Year: 2013 Vintage Year: 2016 Fund Size: 14.7bn Fund Size: 18.4bn Fund Size: 3.5bn Private Investments…
Real Assets Commentary Infrastructure ( in billions) AUM increased 5% quarter-over-quarter to 33 billion driven by strong inflows and market appreciation 2.1 Principal Finance Fee generating inflows of 1.5 billion during the…
Balance Sheet Highlights
GAAP Consolidated Statements of Financial Condition (Unaudited) ( in thousands, except share data) As of As of June 30, 2019 December 31, 2018 Assets: Cash and cash equivalents 945,725 609,747 Restricted cash 17,651 3,457 U.S.…
Segment Balance Sheet Highlights During the quarter, 1.0 million Class A shares were repurchased for 29.1 million in open market transactions as part of the publicly announced share repurchase program7 On June 10, 2019, Apollo issued 325…
Supplemental Details
Segment Performance Fees As of June 30, 2019 2Q'19 YTD'19 Performance Fees Unrealized Realized Total Unrealized Realized Total Receivable on an Performance Performance Performance Performance Performance Performance ( in thousands)…
Shareholder Distribution Generated 0.56 of Distributable Earnings per Share during the quarter Apollo declared a quarterly distribution of 0.50 per Class A share to holders of record as of August 16, 2019, which is payable on August 30,…
Investment Records as of June 30, 2019 Committed Total Invested Realized Remaining Unrealized Total ( in millions) Vintage Year Total AUM Gross IRR Net IRR Capital Capital Value Cost Value Value Private Equity: Fund IX 2018 24,522…
Investment Records as of June 30, 2019 - Continued Permanent Capital Vehicles Total Returns7 ( in millions) IPO Year8 Total AUM 2Q'19 YTD'19 2Q'18 YTD'18 FY18 Credit: MidCap9 N/A 9,064 5% 8% 5% 9% 19% AIF 2013 376 3 12 1 3 (5) AFT…
Reconciliations and Disclosures
Reconciliation of GAAP to Financial Measures ( in thousands) 2Q'18 3Q'18 4Q'18 1Q'19 2Q'19 YTD'18 YTD'19 GAAP Net Income (Loss) Attributable to Apollo Global Management, 54,658 162,357 (196,408) 139,893 155,659 (7,987) 295,552 LLC…
Reconciliation of GAAP to Financial Measures - Continued Share Reconciliation 2Q'18 3Q'18 4Q'18 1Q'19 2Q'19 Total GAAP Class A Shares Outstanding 201,585,096 201,089,465 201,400,500 201,375,418 200,435,587 Non-GAAP Adjustments:…
Reconciliation of GAAP to Financial Measures ( in thousands) 2Q'18 3Q'18 4Q'18 1Q'19 2Q'19 YTD'18 YTD'19 Total Consolidated Revenues (GAAP) 523,316 517,731 (114,885) 677,777 636,579 690,219 1,314,356 Equity awards granted by…
Total Segment Revenues, Expenses and Other Income (Loss) The following table sets forth Apollos total segment revenues for the combined segments ( in thousands) 2Q'18 3Q'18 4Q'18 1Q'19 2Q'19 YTD'18 YTD'19 Management fees 325,864…
Non-GAAP Financial Information & Definitions Apollo discloses the following financial measures that are calculated and presented on the basis of methodologies other than in accordance with generally accepted accounting principles in the…
Non-GAAP Financial Information & Definitions Contd Assets Under Management, or AUM, refers to the assets of the funds, partnerships and accounts to which we provide investment management, advisory, or certain other investment- related…
Non-GAAP Financial Information & Definitions Contd Athene Holding refers to Athene Holding Ltd. (together with its subsidiaries, Athene), a leading retirement services company that issues, reinsures and acquires retirement savings…
Non-GAAP Financial Information & Definitions Contd Net IRR of a real assets fund represents the cumulative cash flows in the fund (and not any one investor in the fund), on the basis of the actual timing of cash inflows received from…
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