Apollo International Administration reported file origination exercise of $222bn (£177.8bn) final 12 months and inflows of $152bn.
The choice asset supervisor attracted $33bn of inflows in the course of the fourth quarter alone, boosted by notably sturdy exercise amongst its credit-focused methods and wealth merchandise.
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Whole belongings below administration rose by 15 per cent year-on-year to $751bn.
Sturdy progress in charges boosted Apollo’s backside line. The agency reported adjusted web earnings of $1.36bn within the fourth quarter, beating analysts’ expectations. Adjusted web earnings for the total 12 months got here in at $4.57bn.
“Our fourth quarter outcomes punctuate a really sturdy 12 months of efficiency for Apollo,” mentioned chief government Marc Rowan.
“2024 highlights embrace file origination exercise exceeding $220bn, inflows of greater than $150bn, and belongings below administration surpassing $750bn. Coming into 2025, our progress technique is obvious, our group is concentrated on execution, and we’re enjoying to win.”
Apollo is aiming to handle $1tn of belongings by 2026 and $1.5tn by 2029.
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David Hamilton, managing director of Moody’s asset administration group, mentioned that Apollo’s outcomes spotlight the agency’s strategic emphasis on the convergence of private and non-private capital markets.
“The file inflows and powerful origination exercise replicate broader traits within the business, the place the mixing of private and non-private capital is driving innovation and increasing investor alternatives,” he added. “Whereas the efficiency of personal credit score has, up to now, been resilient, we’re a difficult credit score danger outlook for medium-sized, loan-financed firms by the top of this 12 months, making strong underwriting and administration vital for the continued wholesome progress of the asset class.
“Moody’s capital markets analysis estimates that the leveraged mortgage default fee – 7.6 per cent as of the top of 2024 – is prone to stay close to its present degree by the top of 2025.”
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