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Apollo Global Management, LLC Reports Third Quarter 2012 Results

APOLLO GLOBAL MANAGEMENT, LLC

SUPPLEMENTAL SEGMENT INFORMATION (UNAUDITED)

Supplemental Segment Information

Private Equity Dollars Invested and Uncalled Commitments

The following table summarizes the private equity dollars invested during the specified reporting periods:

       
For the Three Months Ended September 30, For the Nine Months Ended September 30,
  2012     2011   2012     2011
(in millions)
Private equity dollars invested $ 78 $ 757 $ 2,719 $ 2,124
 

The following table summarizes the uncalled private equity commitments as of September 30, 2012, December 31, 2011 and September 30, 2011:

         
As of September 30, 2012 As of December 31, 2011 As of September 30, 2011
(in millions)
Uncalled private equity commitments $ 7,105 $ 8,204 $ 9,376
 

Cost and Fair Value of our Funds’ Investments by Segment

The following table provides a summary of the cost and fair value of our funds’ investments by segment:

         
As of September 30, 2012 As of December 31, 2011 As of September 30, 2011
(in millions)
Private Equity:
Cost $ 16,386 $ 15,956 $ 15,141
Fair Value

25,353

20,700 19,093
 
Credit:
Cost 15,978 10,917 $ 10,272
Fair Value 17,460 11,696 10,004
 
Real Estate:
Cost 3,883 4,791 $ 4,798
Fair Value 3,550 4,344 4,279
 

As of September 30, 2012, approximately 74% of the fair value of our fund investments was determined using market-based valuation methods (i.e., reliance on broker or listed exchange quotes) and the remaining 26% was determined primarily by comparable company and industry multiples or discounted cash flow models. For our private equity, credit and real estate segments, the percentage determined using market-based valuation methods as of September 30, 2012 was 64%, 86% and 49%, respectively.

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