News Formal

Apollo's Q3 earnings rise 23% on management fees, retirement services

  • 📰 SaltWire Network
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

Explore stories from Atlantic Canada.

NEW YORK - Apollo Global Management Inc said on Wednesday that its third-quarter adjusted net income jumped nearly 23% year-on-year amid strong growth in management fees and earnings from its retirement services business.

Fee-related earnings rose 29% to a quarterly record $472 million driven by increased management fees from Apollo managing more assets. Total assets under management were up nearly 21% to $631 billion. Like its peers, Apollo struggled to sell assets from its private equity business amid volatility caused by inflation, geopolitical tensions and rising rates. Principal investing income fell 92% to $4 million.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 45. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Analysis-Three years after DirectBooks, US bond market still phoning it inExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »