Apollo’s Incentive Business reported $2,163.6 million of total carried interest income for the year ended December 31, 2012, compared to ($442.0) million for the same period in 2011. There were $997.2 million of realized gains from carried interest income for the year ended December 31, 2012, an increase of $352.6 million, or 55%, compared to the same period in 2011.Total expenses for Apollo’s Management Business were $164.1 million for the fourth quarter ended December 31, 2012, an increase of $33.2 million, or 25%, from the same period in 2011. Total expenses for Apollo’s Management Business were $600.2 million for the year ended December 31, 2012, an increase of $56.9 million, or 10%, compared to the same period in 2011. The increase in total expenses for the quarter and year ended December 31, 2012 was partially driven by $8.2 million and $18.4 million of higher placement fees, respectively, primarily due to the larger amount of capital that was raised in 2012 compared to 2011.
Apollo Global Management, LLC Reports Financial Results For The Fourth Quarter And Year Ended December 31, 2012
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