Exhibit 99.2 APOLLO GLOBAL MANAGEMENT Apollo Global Management, Inc. Third Quarter 2019 Earnings October 31, 2019
Apollo 3Q'19 Financial Results Highlights ( in millions, except per share data) 3Q'19 Per Share YTD'19 Per Share GAAP Net Income 521.1 N/A 1,178.8 N/A Results Net Income Attributable to Apollo Global Management, Inc. 354.1 1.64 649.7…
GAAP Consolidated Statements of Operations (Unaudited) Net Income was 521.1 million for the quarter ended September 30, 2019; Net Income Attributable to Apollo Global Management, Inc. Class A Common Stock was 354.1 million for the quarter…
Total Segments ( in thousands, except per share data) 3Q'18 2Q'19 3Q'19 YTD'18 YTD'19 Management fees 339,905 366,311 378,372 937,972 1,103,306 Advisory and transaction fees, net 12,972 31,062 16,562 41,546 66,684 Performance fees1…
Fee Related Earnings Rollforward FRE of 0.52 per share up 8% year-over-year fueled by growth of our management fees; quarter-over-quarter FRE decreased primarily due to lower advisory and transaction fees, the timing of which are…
Distributable Earnings and Dividend DE per share was flat year-over-year, as growth in FRE and net realized performance fees was offset by higher taxes and related payables as a result of the Conversion Distributable Earnings per Share1…
Assets Under Management Total AUM increased to 322.7 billion, driven by 15.9 billion of inflows during the quarter, primarily from growth in Athene and across the credit platform and inflows from real estate funds; inflows over the twelve…
Performance Fee Assets Under Management Total Performance Fee-Eligible AUM reached 131.2 billion and grew 8% year-over-year, driven by growth in permanent capital vehicles, fundraising for strategies such as Natural Resources and…
Total AUM & Fee-Generating AUM Total AUM Rollforward1 Fee-Generating AUM Rollforward1 Private Private Credit3 Real Assets Total Credit Real Assets Total ( in millions) Equity ( in millions) Equity 2Q'19 201,216 77,148 33,498…
Capital Deployment, Dry Powder & Performance Fee-Eligible AUM Dry Powder Composition Performance Fee-Eligible AUM ( in billions) ( in billions) Credit Uninvested Real Assets Performance 6.9 Fee-Eligible AUM 4.7 43.6 Currently 44…
Permanent Capital Vehicles, Athene, and Athora Permanent Capital AUM Supplemental Information ( in billions) 161 ( in billions) 2Q'19 3Q'19 136 Athene 119.0 125.5 Athora 13.7 14.0 87 72 MidCap 9.1 8.6 49% 50% 45% 47% ARI 5.6…
Net Performance Fee Receivable Rollforward Net Performance Fee Receivable1 (Per Share2) Net Performance Net Realized Fees/Other3 Performance Fees +0.51 1.93 1.83 1.81 (0.12) 1.55 1.29 1.15 2Q18 3Q'18 4Q'18 1Q'19…
Segment Highlights
Credit Commentary Advisory and ( in billions) Total AUM increased 3% quarter-over-quarter to 208 billion, primarily driven by growth in Athene and corporate credit Other Fee-generating inflows of 48 billion during the twelve months…
Private Equity Commentary Natural ( in billions) Total AUM increased to 78 billion at quarter end, driven by market activity and inflows, net of realizations Resources Hybrid 6.0 Generated inflows of 0.5 billion during the quarter,…
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 11% quarter-over-quarter to 37 billion driven by strong inflows Principal 2.2 Inflows of 3.9 billion during the quarter were driven by ARI, real estate debt managed…
Balance Sheet Highlights
GAAP Consolidated Statements of Financial Condition (Unaudited) ( in thousands, except share data) As of As of September 30, 2019 December 31, 2018 Assets: Cash and cash equivalents 1,242,817 609,747 Restricted cash 19,777 3,457…
Segment Balance Sheet Highlights Summary Balance Sheet1 Share Repurchase Activity - 1Q16 through 3Q195 Supplemental Details ( in millions) 3Q'19 ( and share amounts in millions) Inception to Date A/A Cash and cash equivalents…
Supplemental Details
Segment Performance Fees As of September 30, 3Q'19 YTD'19 2019 Performance Fees Unrealized Realized Total Unrealized Realized Total Receivable on an Performance Performance Performance Performance Performance Performance ( in…
Stockholder Dividend Generated 0.54 of Distributable Earnings per Share during the quarter Apollo declared a quarterly dividend of 0.50 per share of Class A Common Stock to holders of record as of November 20, 2019, which is payable on…
Investment Records as of September 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…
Investment Records as of September 30, 2019 - Continued Permanent Capital Vehicles Total Returns7 ( in millions) IPO Year8 Total AUM 3Q'19 YTD'19 3Q'18 YTD'18 FY18 Credit: MidCap9 N/A 8,556 4% 13% 6% 15% 19% AIF 2013 375 5 17 2 5…
Reconciliations and Disclosures
Reconciliation of GAAP to Non-GAAP Financial Measures ( in thousands) 3Q'18 4Q'18 1Q'19 2Q'19 3Q'19 YTD'18 YTD'19 GAAP Net Income (Loss) Attributable to Apollo Global Management, 162,357 (196,408) 139,893 155,659 354,106 154,370…
Reconciliation of GAAP to Non-GAAP Financial Measures - Continued Share Reconciliation 3Q'18 4Q'18 1Q'19 2Q'19 3Q'19 Total GAAP Class A Common Stock Outstanding 201,089,465 201,400,500 201,375,418 200,435,587 222,403,296 Non-GAAP…
Reconciliation of GAAP to Non-GAAP Financial Measures ( in thousands) 3Q'18 4Q'18 1Q'19 2Q'19 3Q'19 YTD'18 YTD'19 Total Consolidated Revenues (GAAP) 517,731 (114,885) 677,777 636,579 702,721 1,207,950 2,017,077 Equity awards granted…
Total Segment Revenues, Expenses and Other Income (Loss) The following table sets forth Apollos total segment revenues for the combined segments ( in thousands) 3Q'18 4Q'18 1Q'19 2Q'19 3Q'19 YTD'18 YTD'19 Management fees 339,905…
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…
Forward Looking Statements Effective September 5, 2019, Apollo Global Management, Inc. converted from a Delaware limited liability company named Apollo Global Management, LLC (AGM LLC) to a Delaware corporation named Apollo Global…
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