Apollo Global Management (NYSE: APO) reported first-quarter 2026 earnings, showcasing record fee-related earnings (FRE) of $728 million, or $1.17 per share, and spread-related earnings (SRE) of $719 million, or $1.15 per share. Total adjusted net income reached $1.2 billion, or $1.94 per share. The company also announced a dividend increase to $2.25 per share, reflecting a 10% year-over-year growth.
During the quarter, Apollo originated $71 billion in capital, representing a 25% year-over-year growth, bringing total origination volume for the last twelve months to nearly $325 billion. The capital formation totaled $115 billion, with $50 billion from organic inflows. Additionally, Athene, a subsidiary, reported a 14% year-over-year increase in net investment assets, reaching $300 billion.
Apollo maintained a focus on expanding transparency in private credit by implementing daily pricing across its credit business, aiming for full transparency across all asset classes. The company emphasized a defensive investment posture amid potential macroeconomic risks with a strategic focus on investment-grade private credit opportunities.
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