Apollo Global Management Retirement Services — Restricted cash and cash equivalents decreased by 51.9% to $1.33B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 41.3%, from $943.00M to $1.33B. Over 3 years (FY 2022 to FY 2025), Retirement Services — Restricted cash and cash equivalents shows an upward trend with a 35.3% CAGR. This is a positive signal — lower values indicate better performance for this metric.
An increase often reflects higher regulatory requirements or collateral obligations, which may limit operational liquidity.
Cash and cash equivalents held by the retirement services segment that are not available for general use due to legal, r...
Standard for insurance and asset management; peers report this as 'Restricted Cash' or 'Collateralized Cash'.
apo_segment_retirement_services_restricted_cash_and_cash_equivalents| 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 | $0.00 | $834.00M | $753.00M | $1.02B | $628.00M | $1.15B | $2.20B | $1.22B | $1.76B | $1.58B | $1.09B | $964.00M | $943.00M | $2.21B | $1.72B | $2.77B | $1.33B |
| QoQ Change | — | — | -9.7% | +36.0% | -38.7% | +82.8% | +91.9% | -44.7% | +44.6% | -10.6% | -30.6% | -11.8% | -2.2% | +134.4% | -22.2% | +60.9% | -51.9% |
| YoY Change | — | — | — | — | — | +37.6% | +192.6% | +18.9% | +180.4% | +37.2% | -50.4% | -20.9% | -46.5% | +40.3% | +57.4% | +187.0% | +41.3% |