This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Apollo Global Management, LLC Reports Third Quarter 2012 Results

Stocks in this article: APO

Credit Segment

ENI from Apollo’s credit segment was $195.0 million for the third quarter of 2012, compared to an economic net loss of $266.6 million for the third quarter of 2011. The quarter over quarter change was largely driven by total carried interest income of $228.6 million during the third quarter of 2012, compared to a total carried interest loss of $271.7 million during the third quarter of 2011. Combined income from equity method investments and net gains from investment activities was $19.0 million for the third quarter of 2012, compared to a combined loss of $59.8 million for the same period in 2011.

Management fees from Apollo’s credit segment were $80.8 million for the third quarter of 2012 compared to $47.2 million, an increase of $33.6 million, or 71%, from the third quarter of 2011. The increase in management fees was largely driven by the previously announced acquisitions of Stone Tower and Gulf Stream Asset Management LLC.

During the third quarter of 2012, there was $1.2 billion of additional capital raised across Apollo’s credit platform, including $0.4 billion for Apollo’s European loan strategies, $0.4 billion directed towards residential mortgage credit investments and $0.4 billion in new managed accounts, where Apollo looks to provide tailored, solution-driven investment strategies across its credit platform to meet the unique risk profiles and return needs of its investors.

Real Estate Segment

Apollo’s real estate segment had an economic net loss of $1.7 million for the third quarter of 2012, compared to a $5.4 million loss for the third quarter of 2011. Total revenues for the real estate segment during the third quarter of 2012 were $15.7 million, an increase of $4.7 million or 43% compared to $11.0 million for the same period in 2011. The increase in revenues during the third quarter of 2012 was largely due to a $4.8 million increase in unrealized carried interest income.

4 of 8

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs