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

Stocks in this article: APO

In addition to certain funds and SIAs included in the investment record tables and capital deployed from certain SIAs across our private equity, credit and real estate funds, we also managed approximately an additional $7.5 billion of total AUM in SIAs as of December 31, 2012. The above investment record tables exclude certain funds and SIAs with an aggregate AUM of approximately $4 billion as of December 31, 2012, which were excluded because management deemed them to be immaterial.



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 December 31,     For the Year Ended December 31,
2012     2011 2012     2011     2010
(in millions)
Private equity dollars invested $   472 $   1,226 $   3,191 $   3,350 $   3,863

The following table summarizes the uncalled private equity commitments as of December 31, 2012, 2011 and 2010:

        As of December 31
2012     2011     2010
(in millions)
Uncalled private equity commitments $ 7,464 $ 8,204 $ 10,345

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 December 31, 2012 (3)     As of December 31, 2011     As of December 31, 2010
(in millions)
Private Equity:
Cost $ 16,927 $ 15,956 $ 14,322
Fair Value 25,867 20,700 22,485
Cost $

15,097 (1)


$ 10,917 $ 10,226
Fair Value

16,287 (1)


11,696 11,476
Real Estate:
Cost $

3,848 (1)


$ 4,791 $

4,028 (2)


Fair Value

3,680 (1)



3,368 (2)


(1)   AMTG and ARI amounts are as of September 30, 2012.

All amounts are as of September 30, 2010 and include CPI Funds with investment cost of $1.8 billion and fair value of$1.1 billion. Additionally, ARI amounts include loans at amortized cost.

(3) Cost and fair value amounts are presented for investments of the funds that are listed in the investment record tables.

As of December 31, 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 December 31, 2012 was 64%, 89% and 47%, respectively.

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