01—Abstract
Summary
Summary of the 8-K filed April 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 April 2, 2025, providing preliminary estimates for its alternative net investment income for the first quarter ended March 31, 2025.
The company anticipates approximately $290 milliona in pre-tax alternative net investment income, representing an estimated annualized return of 9% on its alternative net investments. This disclosure offers investors an early look at a key performance indicator ahead of the official quarterly earnings release on May 2, 2025. Key components of this income include an estimated 10% annualized return from Athene's investment in a pooled investment vehicle housing the majority of its alternatives portfolio, and an estimated 6% annualized return from other Athene alternative investments, including retirement services platforms.
While these preliminary figures provide valuable insights into Apollo's performance drivers, investors are cautioned that these are unaudited estimates and actual results could differ materially. The company emphasizes that these preliminary results are not a substitute for full GAAP financial statements and should not be seen as indicative of future performance.
02—Key points
Key Highlights
- Preliminary alternative net investment income estimated at $290 million (pre-tax) for Q1 2025.
- Estimated annualized return on alternative net investments projected at 9% for Q1 2025.
- Athene's investment in a pooled investment vehicle shows an estimated 10% annualized return.
- Athene's other alternative investments, including retirement services platforms, show an estimated 6% annualized return.
- These figures are components of Spread Related Earnings, a key performance measure for the Retirement Services segment.
- Disclosure made prior to the official Q1 2025 earnings release scheduled for May 2, 2025.
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 associated annualized returns for the first quarter ended March 31, 2025, ahead of its official earnings release.
Are the preliminary financial results in this filing audited?
No, the preliminary financial results are not audited. The company explicitly states that its independent registered public accounting firm has not audited, reviewed, or performed any procedures with respect to these preliminary figures and does not express any opinion or assurance on them.
How should investors interpret these preliminary figures?
Investors should exercise caution when relying on these preliminary figures. They are unaudited estimates and may differ, possibly materially, from the actual results once financial closing procedures are complete. These figures should not be viewed as a substitute for full financial statements prepared in accordance with U.S. GAAP or as indicative of future performance.
What is 'alternative net investment income' and why is it important?
Alternative net investment income is a component of Spread Related Earnings, which is used to assess the performance of Apollo's Retirement Services segment. Spread Related Earnings is, in turn, a key performance measure for management's evaluation of the operating segments. Therefore, it provides insight into the profitability and performance of a significant part of Apollo's business.
04—Continue