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

“Our results for the fourth quarter of 2012 completed an outstanding year for Apollo and we believe further demonstrate the significant earnings and cash generating power inherent in our integrated global investment platform,” said Leon Black, Chairman and Chief Executive Officer. “During 2012 we returned $11 billion to our fund investors across all of Apollo’s business segments, and we generated $1.94 in cash distributions for our shareholders. As we look to 2013 and beyond, we believe Apollo is well-positioned to continue to pursue a range of alternative investment strategies and deliver strong returns to our investors.”

Combined Segments

Total revenue for Apollo’s Management Business was $223.2 million for the fourth quarter ended December 31, 2012, an increase of $63.8 million, or 40%, from the same period in 2011. This includes management fee revenues of $176.4 million for the fourth quarter ended December 31, 2012, an increase of $48.6 million, or 38%, from the same period in 2011, which was primarily driven by growth in fee-generating AUM within Apollo’s credit segment.

Total revenue for Apollo’s Management Business was $810.8 million for the year ended December 31, 2012, an increase of $193.8 million, or 31%, from the same period in 2011. This includes management fee revenues of $623.0 million for the year ended December 31, 2012, which increased $132.8 million, or 27%, from the same period in 2011, and advisory and transaction fee revenue of $150.0 million for the year ended December 31, 2012, which increased $67.7 million, or 82%, from the same period in 2011.

Apollo’s Incentive Business reported $962.3 million of total carried interest income for the fourth quarter ended December 31, 2012, an increase of $473.1 million, or 97%, from the same period in 2011. As previously mentioned, there was $561.6 million of realized gains from carried interest income for the fourth quarter of 2012, an increase of $283.4 million, or 102%, compared to the same period in 2011. The increase in realized gains from carried interest income was largely attributable to dispositions of investments held in LyondellBasell and Charter Communications, Inc. by funds managed by Apollo during the fourth quarter of 2012.

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