Apollo Global Management Retirement Services — Net recognized investment gains on investment funds increased by 13.6% to $583.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 30.1%, from $448.00M to $583.00M. Over 3 years (FY 2022 to FY 2025), Retirement Services — Net recognized investment gains on investment funds shows an upward trend with a 54.5% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Higher gains reflect strong performance of the underlying alternative investment portfolio, contributing to overall segment profitability.
The net realized and unrealized gains generated from investments in private equity, hedge funds, or other pooled investm...
Comparable to 'net gains on alternative investments' for asset managers and insurers with significant alternative allocations.
apo_segment_retirement_services_net_recognized_investment_gains_on_investment_funds| 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 | $70.00M | $48.00M | $236.00M | $198.00M | $224.00M | $315.00M | $292.00M | $397.00M | $360.00M | $319.00M | $415.00M | $448.00M | $485.00M | $455.00M | $513.00M | $583.00M |
| QoQ Change | — | -31.4% | +391.7% | -16.1% | +13.1% | +40.6% | -7.3% | +36.0% | -9.3% | -11.4% | +30.1% | +8.0% | +8.3% | -6.2% | +12.7% | +13.6% |
| YoY Change | — | — | — | — | +220.0% | +556.3% | +23.7% | +100.5% | +60.7% | +1.3% | +42.1% | +12.8% | +34.7% | +42.6% | +23.6% | +30.1% |