Apollo Global Management, Inc. (NYSE: APO) achieved total assets under management of $938 billion. This marks a 25% increase year-over-year. Apollo Q4 2025 earnings delivered record results as the alternative asset manager reported adjusted net income of $1.54 billion. Consequently, the firm exceeded growth targets across all segments. For the official Apollo Q4 2025 Earnings press release, visit the investor relations page.
Market Performance Update
Apollo trades on the New York Stock Exchange under ticker APO. The company maintains a market capitalization of approximately $77 billion. Furthermore, the board declared a quarterly dividend of $0.51 per share. In addition, management announced a 10% increase in annual dividend to $2.25 per share for 2026. For real-time data and Apollo Q4 2025 earnings updates, visit Yahoo Finance APO.
Apollo Q4 2025 Earnings: Fourth Quarter Results
Fourth quarter adjusted net income reached $1.54 billion. This represented 13% growth compared to Q4 2024. Fee Related Earnings totaled $690 million. This marked a record quarterly result. Additionally, Spread Related Earnings reached $865 million. Combined, Fee and Spread Related Earnings totaled $1.56 billion. Most importantly, this exceeded management expectations. As a result, Apollo delivered consistent earnings growth throughout 2025.
2025 Full Year Performance
Full year 2025 adjusted net income totaled $5.2 billion. This represented 14% growth compared to 2024. Notably, Fee Related Earnings grew 23% to $2.53 billion. Furthermore, Spread Related Earnings reached $3.36 billion. As a result, combined Fee and Spread Related Earnings hit $5.89 billion. Specifically, this marks record annual performance. In fact, origination activity exceeded $309 billion in 2025.
Fee and Spread Related Earnings Trend
Apollo Q4 2025 Earnings: Fee and Spread Related Earnings Performance (2024-2025)
Apollo Q4 2025 Earnings: Strategic Growth Drivers
CEO Marc Rowan highlighted exceptional execution across the platform. According to Rowan, record origination activity exceeded $300 billion. Additionally, inflows surpassed $225 billion for the year. Consequently, these results drove record fee and spread related earnings. Most importantly, the firm operates at the forefront of next-generation financial services. As a result, Apollo continues financing the industrial renaissance.
Assets Under Management Growth
Apollo Q4 2025 Earnings: Assets Under Management Growth Trend
Asset Management Segment Performance
Management fees increased 22% in 2025. This growth reflected expanding third-party asset management inflows. Moreover, capital solutions fees grew 21% year-over-year. Fee-related performance fees also increased 28%. In addition, equity strategies showed particularly robust momentum. Specifically, equity management fees rose 42% in Q4 2025. Consequently, the asset management segment delivered consistent outperformance.
Retirement Services Growth
Athene generated record gross organic inflows of $82 billion in 2025. Retail annuity sales showed continued secular demand. Furthermore, funding agreement activity drove institutional growth. Additionally, flow reinsurance expanded with U.S. clients. Net invested assets reached $292 billion by year-end. As a result, the retirement services platform demonstrated scalable growth.
Capital Return and Shareholder Value
Apollo repurchased $260 million of common stock in Q4. For full year 2025, share repurchases totaled $1.4 billion. Moreover, the firm distributed over $1 billion in dividends during 2025. Looking ahead, dividend per share will increase 10% to $2.25 annually. Furthermore, the board authorized a new $4.0 billion repurchase program. Consequently, total capital return exceeded $1.5 billion in 2025.
2026 Outlook and Growth Initiatives
Management maintains confidence in growth trajectory. The firm continues executing on three strategic pillars. First, origination capabilities expand across credit and equity. Second, global wealth solutions gain momentum with $18 billion in inflows. Third, capital solutions generate record fees. Consequently, Apollo positions itself for continued expansion. Most importantly, perpetual capital comprises nearly 60% of total AUM.
Apollo Q4 2025 Earnings: Key Takeaways
In summary, Apollo delivered Apollo Q4 2025 earnings that exceeded expectations across all metrics. Record Fee Related Earnings of $690 million showed platform momentum. Additionally, total AUM reached $938 billion. This marked 25% growth year-over-year. As a result, the firm achieved record performance in 2025. Looking ahead, management targets continued expansion. For more detailed coverage, see the Apollo Q4 2025 earnings presentation. For additional corporate information, visit Apollo Global Management official website. For the latest updates and firm news, follow Apollo on LinkedIn.