Islanders flock to Charlottetown Flea Market for affordable finds amid rising costs | SaltWireNEW YORK - Apollo Global Management said on Thursday its first-quarter adjusted net income rose 26% year-on-year, driven mostly by growth in management fees as well as earnings from its flagship annuities business.
Apollo's earnings from investing the capital accumulated by its annuities business, Athene, jumped nearly 19% to $817 million due to strong inflows and higher interest rates. During the quarter, Apollo's corporate credit funds appreciated 2.9%, debt and equity funds rose 4%, and private equity funds gained 2.8%. The private equity funds of its peers Blackstone rose 3.4%, KKR & Co Inc added 5%, while Carlyle's were flat.
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