The quarterly profit still left Apollo with a full-year loss of $3.21bn, largely because of a decline in the value of reinsurance assets held by Athene Holdings, the firm’s retirement services subsidiary

Apollo Global Management Inc. recorded a fourth-quarter profit as it reversed a string of quarterly asset writedowns and posted record fee-based revenue.

The New York alternative-asset manager earned $584m in the fourth quarter, or 97 cents per share, the firm said on 9 February. That is more than double the net income of $234m it posted for the fourth quarter of 2021.

Apollo reports return to profit after reversing asset writedowns

The quarterly profit still left Apollo with a full-year loss of $3.21bn, largely because of a decline in the value of reinsurance assets held by Athene Holdings, the firm’s retirement-services subsidiary

Chris Cumming

Apollo Global Management

Apollo

Credit Suisse

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