Apollo

The company operates an alternative asset management and retirement services model. On the asset management side, it raises commitment- and NAV-based funds and vehicles across private equity, credit and real assets from institutional and wealth clients. It deploys this capital into private companies, credit instruments and infrastructure/real estate, aiming to generate risk‑adjusted returns. Value is created through investment selection, structuring, operational improvement and active portfolio management. In return, the firm earns recurring management and monitoring fees calculated on defined asset or commitment bases, plus performance fees (carried interest) when returns exceed agreed hurdles, as well as transaction and advisory fees from financing and capital solutions.

Through its affiliated retirement services arm, it designs and distributes retirement savings and income products, particularly annuities and institutional retirement mandates. These products generate spread‑based and fee income that is supported by the asset manager’s investment capabilities, creating a vertically integrated loop between asset origination, balance‑sheet deployment and retirement product manufacturing. The Wealth platform repackages private markets strategies for advisers and wealth channels, extending the same asset management economics (management and performance fees) to a broader but still intermediated client base.

Apollo Global Management is a United States–based alternative investment manager and retirement services group. It operates large-scale platforms across private equity, credit, real assets, wealth products and retirement/annuity solutions, and is publicly listed following its 2011 IPO. The firm manages capital for institutional and wealth clients globally and also controls an affiliated retirement services business, Athene.

Apollo generates revenue primarily from management and monitoring fees on fee‑generating assets under management, performance‑based carried interest, and transaction/advisory fees related to capital solutions and financing activities. Additional fee income arises from wealth and retirement products, including annuities and institutional retirement solutions distributed through Athene. Its core customers are institutional investors, wealth intermediaries, retirement plan sponsors and other professional asset allocators, rather than retail consumers directly.