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Apollo Global Management, LLC Reports Financial Results For The Fourth Quarter And Year Ended December 31, 2012

Apollo Global Management, LLC (NYSE: APO) and its consolidated subsidiaries (collectively, “Apollo”) today reported results for the fourth quarter and year ended December 31, 2012.

Apollo reported ENI of $696.9 million for the fourth quarter ended December 31, 2012, compared to $356.6 million for the same period of 2011. The 95% increase in ENI was driven by favorable performance in both Apollo’s Management and Incentive Businesses, which reported ENI of $64.3 million and $632.6 million for the fourth quarter ended December 31, 2012, respectively, compared to $28.0 million and $328.6 million, respectively, for the same period in 2011.

Apollo reported ENI of $1,634.4 million for the year ended December 31, 2012, compared to an economic net loss of $300.5 million for the same period of 2011. The year over year change in ENI was driven by favorable performance in both Apollo’s Management and Incentive Businesses, which reported ENI of $222.9 million and $1,411.5 million for the year ended December 31, 2012, respectively, compared to $76.4 million and an economic net loss of $376.9 million, respectively, for the same period in 2011.

Apollo’s total AUM was $113.4 billion as of December 31, 2012, an increase of $38.2 billion, or 51%, compared to $75.2 billion as of December 31, 2011. The increase in total AUM was primarily driven by both organic and strategic growth in the credit segment, which had $64.4 billion of AUM as of December 31, 2012, an increase of $32.5 billion, or 102%, compared to $31.9 billion as of December 31, 2011. Fee-generating AUM was $81.9 billion as of December 31, 2012, an increase of $23.8 billion, or 41%, compared to $58.1 billion as of December 31, 2011. The increase in fee-generating AUM was also primarily driven from both organic and strategic growth in Apollo’s credit segment.

U.S. GAAP results for the fourth quarter ended December 31, 2012 included net income attributable to Apollo of $171.5 million, or $1.12 per Class A share, compared to $10.9 million, or $0.05 per Class A share, for the fourth quarter ended December 31, 2011. For the year ended December 31, 2012, net income attributable to Apollo was $311.0 million, or $2.06 per Class A share, compared to a net loss of $468.8 million, or $(4.18) per Class A share, for the year ended December 31, 2011.

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