Apollo Global Management Retirement Services — Derivative Liability increased by 18.3% to $5.74B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 61.5%, from $3.56B to $5.74B. Over 3 years (FY 2022 to FY 2025), Retirement Services — Derivative Liability shows an upward trend with a 48.7% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
An increase in liability may signal adverse market movements against hedge positions or an expansion of hedging activities.
The fair value of derivative financial instruments that represent a net liability position for the retirement services s...
Standard line item for financial institutions managing complex asset-liability matching programs.
apo_segment_retirement_services_derivative_liability| 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 | $631.00M | $1.23B | $2.23B | $1.65B | $1.52B | $1.75B | $1.89B | $2.00B | $2.43B | $3.21B | $2.76B | $3.56B | $3.37B | $4.89B | $4.85B | $5.74B |
| QoQ Change | — | +95.1% | +81.1% | -26.2% | -7.8% | +15.5% | +7.9% | +5.4% | +21.8% | +32.2% | -14.1% | +28.9% | -5.4% | +45.3% | -0.7% | +18.3% |
| YoY Change | — | — | — | — | +140.6% | +42.4% | -15.1% | +21.2% | +60.0% | +83.2% | +45.8% | +78.2% | +38.5% | +52.2% | +76.0% | +61.5% |