01—Abstract
Summary
Summary of the 8-K filed October 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 October 2, 2025, providing preliminary estimates for its alternative net investment income for the third quarter ended September 30, 2025.
The company anticipates alternative net investment income to be approximately $325 milliona pre-tax, which translates to an estimated annualized return of 10% on its alternative net investments. This disclosure is made prior to the official release of its quarterly earnings and financial supplement on November 4, 2025. Investors should note that these figures are preliminary and have not been audited or reviewed by an independent auditor.
Apollo management has cautioned that actual results could differ materially due to various factors identified during the financial closing process. The report emphasizes that this preliminary data should not be considered a substitute for full U.S. GAAP financial statements or indicative of future performance, and investors should exercise caution when relying on this information.
02—Key points
Key Highlights
- Preliminary Q3 2025 alternative net investment income estimated at $325 million (pre-tax).
- Estimated annualized return on alternative net investments for Q3 2025 is approximately 10%.
- Athene's investment in pooled vehicles (majority of alternatives) shows an estimated 10% annualized return.
- Athene's other alternative investments, including retirement services platforms, show an estimated 8% annualized return.
- This information is a preliminary disclosure and not subject to auditor review.
- Official quarterly earnings release and financial supplement are scheduled for November 4, 2025.
- Management cautions that actual results may differ materially from these preliminary estimates.
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 third quarter of 2025, ahead of the official earnings release.
Are these preliminary results audited?
No, these preliminary financial results have not been audited, reviewed, or compiled by an independent registered public accounting firm. Therefore, they do not express any opinion or assurance regarding their accuracy or achievability.
What is 'alternative net investment income' and why is it important?
Alternative net investment income is a key component of Spread Related Earnings for Apollo's Retirement Services segment. Spread Related Earnings, in turn, is a critical measure used by management to evaluate the performance of Apollo's operating segments. Understanding this metric helps investors gauge the profitability and performance drivers within a significant part of Apollo's business.
Should investors make investment decisions based solely on this preliminary information?
No, investors should exercise caution and not solely rely on this preliminary information for investment decisions. The company explicitly states that actual results may differ materially and this information should not be viewed as a substitute for full financial statements or indicative of future performance.
04—Continue