Apollo Reports Preliminary Q1 Investment Results Ahead of Earnings Release
New York, NY – April 2, 2025 – Apollo Global Management, Inc. (NYSE: APO) has released preliminary estimates for its alternative net investment income for Q1 2025, ahead of its scheduled earnings report on May 2, 2025.

Apollo expects approximately $290 million (pre-tax) in alternative net investment income for the quarter ended March 31, 2025, reflecting a 9% annualized return. Subsidiary Athene Holding Ltd. saw estimated annualized returns of 10% from pooled investment vehicles and 6% from other alternative assets.

The figures are unaudited and subject to change pending final financial review. The company cautioned investors against placing undue reliance on these preliminary results.

The announcement was disclosed under Items 2.02 and 7.01 of a Form 8-K filed with the SEC and is not considered “filed” under the Exchange Act.

Apollo has announced key leadership changes to align with its five-year strategic plan, aiming to enhance its operational capabilities and growth across various sectors. As part of this strategic shift:

Jim Zelter has been appointed as the President of Apollo Global Management, Inc. (AGM), which acts as the holding entity for Apollo’s asset management and retirement services. This newly created role is integral to driving Apollo's significant growth plans. Zelter's responsibilities will include leading strategic initiatives across both Apollo Asset Management, Inc. (AAM) and Athene Holding Ltd. subsidiaries.

John Zito has been appointed as Co-President of AAM, where he will work alongside Scott Kleinman. Together, they will manage all investing activities and the day-to-day operations of the asset management business. Zito will also continue in his role as Head of Credit for Apollo.

These leadership appointments are in line with Apollo's vision of becoming a next-generation financial services firm, as emphasized by CEO Marc Rowan. Rowan's leadership will continue to be a pivotal element of Apollo’s strategy, as the firm is finalizing a five-year extension of his employment agreement.

Jay Clayton, Chair of Apollo Global Management, highlighted these changes as a testament to Apollo’s commitment to strong, shareholder-aligned stewardship, expressing confidence in the senior leadership team's ability to fulfill the firm's ambitious plans.

The announcements were made as part of a broader narrative emphasizing Apollo’s adaptive strategies in response to the evolving financial landscape, focusing on the convergence of public and private markets and the changing roles within financial institutions. These leadership changes are set to position Apollo strongly for future growth and operational efficiency.