01—Abstract
Summary
Summary of the 8-K filed January 2, 2025. Cited figures are marked; the original filing is the authoritative source.
Apollo Global Management, Inc. (APO) has filed a Current Report (8-K) on January 2, 2025, to provide a preliminary estimate of its alternative net investment income for the fourth quarter of 2024.
The company anticipates alternative net investment income to be approximately $265 milliona (pre-tax), reflecting an estimated annualized return of 9% on alternative net investments. This disclosure, made prior to the official earnings release scheduled for February 4, 2025, offers an early look at performance drivers, particularly within its subsidiary Athene Holding Ltd. Investors should note that these are preliminary figures, and actual results may differ materially once the full financial statements are prepared and audited.
The report highlights strong performance within Athene's pooled investment vehicle, with an estimated annualized return of 11%b on its alternative investments. While this preliminary data provides valuable insight, it is not a substitute for the comprehensive financial results expected next month, and caution is advised in its interpretation.
02—Key points
Key Highlights
- Apollo Global Management (APO) released preliminary Q4 2024 alternative net investment income of approximately $265 million (pre-tax).
- This preliminary figure represents an estimated annualized return of 9% on alternative net investments for the quarter.
- Athene Holding Ltd., a subsidiary of Apollo, contributed significantly, with an estimated annualized return of 11% on its alternative investments held through a pooled investment vehicle.
- Athene's other alternative investments, including retirement services platforms, showed an estimated annualized return of 5% for Q4 2024.
- These figures are pre-tax and exclude income attributable to non-controlling interests.
- The disclosure is made prior to the official Q4 2024 earnings release and financial supplement, scheduled for February 4, 2025.
- The company explicitly warns that these are preliminary estimates and actual results may differ materially, urging investors to exercise caution.
03—Questions
Frequently Asked Questions
What is the main purpose of this 8-K filing?
The main purpose of this 8-K filing is to provide investors with preliminary estimates of Apollo Global Management's alternative net investment income and annualized returns for the fourth quarter of 2024, ahead of its official earnings release.
Are the reported financial figures for Q4 2024 final and audited?
No, the financial figures provided in this 8-K are preliminary estimates. The company has not completed its financial closing procedures, and these numbers have not been audited or reviewed by its independent registered public accounting firm. Actual results could differ materially.
How did Athene Holding Ltd. perform in Q4 2024 based on these preliminary results?
Based on these preliminary estimates, Athene's investment in a pooled investment vehicle, which holds the majority of its alternative investments, generated an estimated annualized return of 11% for Q4 2024. Other alternative investments within Athene, including retirement services platforms, had an estimated annualized return of 5%.
When will the full, audited Q4 2024 financial results be available?
Apollo Global Management's official quarterly earnings release and quarterly financial supplement for the fourth quarter of 2024 are scheduled for release on February 4, 2025. This will include the full, audited financial statements.
04—Continue