Non-compensation expenses for Apollo’s Management Business were $59.1 million during the third quarter of 2012, an increase of $10.8 million, or 22%, from the third quarter of 2011. The increase in non-compensation expense during the third quarter of 2012 was largely driven by $7.6 million and $4.1 million of additional general administrative expenses and professional fees, respectively, which were both impacted in part by the acquisition of Stone Tower Capital LLC and its related management companies (collectively “Stone Tower”) in April 2012.Private Equity Segment
Apollo Global Management, LLC Reports Third Quarter 2012 Results
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