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Apollo Global Management, LLC Reports Second Quarter 2013 Results

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 an additional approximate $6.3 billion of total AUM in SIAs as of June 30, 2013. The above investment record tables exclude certain funds and SIAs with an aggregate AUM of approximately $5.0 billion as of June 30, 2013, 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 June 30,   For the Six Months Ended June 30,
2013   2012 2013   2012
(in millions)
Private equity dollars invested $ 177 $ 1,657 $ 1,368 $ 2,641

The following table summarizes the uncalled private equity commitments as of June 30, 2013 and 2012, and December 31, 2012:

  As of June 30, 2013   As of December 31, 2012   As of June 30, 2012
(in millions)
Uncalled private equity commitments $ 13,026 $ 7,464 $ 6,647

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 June 30, 2013 (1) As of June 30, 2012   As of December 31, 2012 (1)
(in millions)  
Private Equity:  
Cost $ 15,807 $ 16,963 $ 16,927
Fair Value 24,019 24,817 25,867
Cost $ 15,191 $ 15,317 $ 15,097 (2)
Fair Value 15,069 15,842 16,287 (2)
Real Estate:
Cost $ 4,538 $ 4,103 $ 3,848 (2)
Fair Value 4,385 3,677 3,680 (2)
    (1)     Cost and fair value amounts are presented for investments of the funds that are listed in the investment record tables.
(2) AMTG and ARI amounts are as of September 30, 2012.

As of June 30, 2013, approximately 72% 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 28% 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 June 30, 2013 was 60%, 88% and 50%, respectively.

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