Apollo Global Management Asset Management — Equity-based profit sharing expense decreased by 208.6% to -$108.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 23.4%, from -$141.00M to -$108.00M. Over 2 years (FY 2023 to FY 2025), Asset Management — Equity-based profit sharing expense shows an upward trend with a -6.0% CAGR.
High levels reflect significant incentive alignment, though they represent a dilution or cost to current shareholders.
Expenses related to profit-sharing arrangements paid in the form of equity or equity-linked instruments to employees or...
Common in private equity and alternative asset management where talent retention is tied to investment success.
apo_segment_asset_management_equity_based_profit_sharing_expense| Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | -$59.75M | -$59.75M | -$59.75M | -$59.75M | -$94.00M | -$45.00M | -$41.00M | -$141.00M | -$30.00M | -$38.00M | -$35.00M | -$108.00M |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | -57.3% | +52.1% | +8.9% | -243.9% | +78.7% | -26.7% | +7.9% | -208.6% |
| YoY Change | — | — | — | — | -57.3% | +24.7% | +31.4% | -136.0% | +68.1% | +15.6% | +14.6% | +23.4% |