Apollo Global Management Asset Management — Adjustments related to consolidated funds and VIEs increased by 12.0% to $279.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 151.4%, from $111.00M to $279.00M. Over 3 years (FY 2022 to FY 2025), Asset Management — Adjustments related to consolidated funds and VIEs shows an upward trend with a 28.9% CAGR.
Fluctuations reflect changes in the scale or performance of consolidated entities rather than the firm's own operational efficiency.
Adjustments made to financial results to account for the consolidation of investment funds or variable interest entities...
Standard accounting adjustment for firms that consolidate investment vehicles under GAAP.
apo_segment_asset_management_adjustments_related_to_consolidated_funds_and_vies| 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 | -$91.00M | -$91.00M | -$91.00M | -$91.00M | $90.50M | $90.50M | $90.50M | $90.50M | $100.00M | $124.00M | $190.00M | $111.00M | $95.00M | $157.00M | $249.00M | $279.00M |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | +199.5% | +0.0% | +0.0% | +0.0% | +10.5% | +24.0% | +53.2% | -41.6% | -14.4% | +65.3% | +58.6% | +12.0% |
| YoY Change | — | — | — | — | +199.5% | +199.5% | +199.5% | +199.5% | +10.5% | +37.0% | +109.9% | +22.7% | -5.0% | +26.6% | +31.1% | +151.4% |