Apollo Global Management Asset Management — Fee Related Compensation increased by 10.5% to $336.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 48.0%, from $227.00M to $336.00M. Over 4 years (FY 2021 to FY 2025), Asset Management — Fee Related Compensation shows an upward trend with a 15.9% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Lower ratios relative to fee revenue indicate higher operational efficiency and better margins.
The portion of total compensation and benefits directly attributable to the personnel managing the fee-earning assets. T...
A key metric for analyzing the operating leverage of asset management firms.
apo_segment_asset_management_fee_related_compensation| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | 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 | $161.60M | $160.70M | $176.60M | $175.40M | $187.20M | $193.80M | $197.10M | $211.00M | $212.00M | $212.00M | $200.00M | $220.00M | $240.00M | $238.00M | $227.00M | $259.00M | $279.00M | $304.00M | $336.00M |
| QoQ Change | — | -0.6% | +9.9% | -0.7% | +6.7% | +3.5% | +1.7% | +7.1% | +0.5% | +0.0% | -5.7% | +10.0% | +9.1% | -0.8% | -4.6% | +14.1% | +7.7% | +9.0% | +10.5% |
| YoY Change | — | — | — | — | +15.8% | +20.6% | +11.6% | +20.3% | +13.2% | +9.4% | +1.5% | +4.3% | +13.2% | +12.3% | +13.5% | +17.7% | +16.3% | +27.7% | +48.0% |