Apollo Global Management, Inc. (NYSE: APO) (together with its
consolidated subsidiaries, “Apollo”) today reported results for the
first quarter ended March 31, 2023.
Marc Rowan, Chief Executive Officer at Apollo
said, “The consequences of the past decade-plus of artificially low
interest rates were on full display in the first quarter. While the
traditional banking model navigates certain challenges, the role of
private markets in financing the broader economy becomes
increasingly important. We’ve chosen a market that is
differentiated within our industry – senior secured, safe yield at
the top of the capital structure – that positions us well for the
many evolving opportunities in this environment. We have tremendous
runway in front of us and we’re highly focused on executing the
attractive growth plan we laid out at the beginning of the
year.”
Apollo issued a full detailed presentation of
its first quarter ended March 31, 2023 results, which can be
viewed on Apollo’s Investor Relations website at ir.apollo.com.
Dividend
Apollo Global Management, Inc. has declared a
cash dividend of $0.43 per share of its Common Stock for the first
quarter ended March 31, 2023. This dividend will be paid on
May 31, 2023 to holders of record at the close of business on
May 22, 2023.
Apollo Asset Management, Inc. (NYSE: AAM PrA,
AAM PrB) has declared a cash dividend of $0.398438 per share of
each of its Series A Preferred shares and Series B Preferred
shares, which will be paid on June 15, 2023 to holders of
record at the close of business on June 1, 2023.
The declaration and payment of dividends on
Common Stock, Series A Preferred shares and Series B Preferred
shares are at the sole discretion of Apollo Global Management,
Inc.’s and Apollo Asset Management, Inc.’s respective board of
directors, as applicable. Apollo cannot assure its stockholders
that they will receive any dividends in the future.
Conference Call
Apollo will host a public audio webcast on
Tuesday, May 9, 2023 at 8:30 a.m. Eastern Time. During the
webcast, members of Apollo’s senior management team will review
Apollo’s financial results for the first quarter ended
March 31, 2023.
The webcast may be accessed at: ir.apollo.com.
For those unable to listen to the live broadcast, there will be a
replay of the webcast available at the same link one hour after the
event.
Apollo distributes its earnings releases via its
website and email distribution lists. Those interested in receiving
firm updates by email can sign up for them at ir.apollo.com.
About Apollo
Apollo is a high-growth, global alternative
asset manager. In our asset management business, we seek to provide
our clients excess return at every point along the risk-reward
spectrum from investment grade to private equity with a focus on
three investing strategies: yield, hybrid, and equity. For more
than three decades, our investing expertise across our fully
integrated platform has served the financial return needs of our
clients and provided businesses with innovative capital solutions
for growth. Through Athene, our retirement services business, we
specialize in helping clients achieve financial security by
providing a suite of retirement savings products and acting as a
solutions provider to institutions. Our patient, creative, and
knowledgeable approach to investing aligns our clients, businesses
we invest in, our employees, and the communities we impact, to
expand opportunity and achieve positive outcomes. As of
March 31, 2023, Apollo had approximately $598 billion of
assets under management. To learn more, please visit
www.apollo.com.
Forward-Looking Statements
In this press release, references to “Apollo,”
“we,” “us,” “our” and the “Company” refer collectively to Apollo
Global Management, Inc. and its subsidiaries, or as the context may
otherwise require. This press release may contain forward-looking
statements that are within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These statements
include, but are not limited to, discussions related to Apollo’s
expectations regarding the performance of its business, its
liquidity and capital resources and other non-historical
statements. These forward-looking statements are based on
management’s beliefs, as well as assumptions made by, and
information currently available to, management. When used in this
press release, the words “believe,” “anticipate,” “estimate,”
“expect,” “intend” and similar expressions are intended to identify
forward-looking statements. Although management believes that the
expectations reflected in these forward-looking statements are
reasonable, it can give no assurance that these expectations will
prove to have been correct. These statements are subject to certain
risks, uncertainties and assumptions, including risks relating to
inflation, market conditions and interest rate fluctuations
generally, the impact of COVID-19, the impact of energy market
dislocation, our ability to manage our growth, our ability to
operate in highly competitive environments, the performance of the
funds we manage, our ability to raise new funds, the variability of
our revenues, earnings and cash flow, the accuracy of management’s
assumptions and estimates, our dependence on certain key personnel,
our use of leverage to finance our businesses and investments by
the funds we manage, Athene’s ability to maintain or improve
financial strength ratings, the impact of Athene’s reinsurers
failing to meet their assumed obligations, Athene’s ability to
manage its business in a highly regulated industry, changes in our
regulatory environment and tax status, and litigation risks, among
others. We believe these factors include but are not limited to
those described under the section entitled “Risk Factors” in the
Company's annual report on Form 10-K filed with the Securities and
Exchange Commission (the “SEC”) on March 1, 2023, as such factors
may be updated from time to time in our periodic filings with the
SEC, which are accessible on the SEC’s website at www.sec.gov.
These factors should not be construed as exhaustive and should be
read in conjunction with the other cautionary statements that are
included in this press release and in our other filings with the
SEC. We undertake no obligation to publicly update or review any
forward-looking statements, whether as a result of new information,
future developments or otherwise, except as required by applicable
law. This press release does not constitute an offer of any Apollo
fund.
Investor and Media Relations
Contacts
For investors please contact:Noah GunnGlobal
Head of Investor RelationsApollo Global Management,
Inc.212-822-0540ir@apollo.com
For media inquiries please contact:Joanna
RoseGlobal Head of Corporate CommunicationsApollo Global
Management, Inc.212-822-0491communications@apollo.com
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