Apollo Global Management Retirement Services — Revenues of consolidated variable interest entities increased by 3.1% to $674.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 36.7%, from $493.00M to $674.00M. Over 3 years (FY 2022 to FY 2025), Retirement Services — Revenues of consolidated variable interest entities shows an upward trend with a 77.7% CAGR.
An increase suggests a larger footprint in structured investment vehicles, potentially increasing asset management scale but also complexity.
Represents the gross revenue generated by variable interest entities (VIEs) that are consolidated into the retirement se...
Common in asset managers and insurance companies that utilize special purpose vehicles for investment management.
apo_segment_retirement_services_revenues_of_consolidated_variable_interest_entities| 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 | $110.00M | $110.00M | $110.00M | $110.00M | $281.00M | $347.00M | $318.00M | $495.00M | $411.00M | $366.00M | $552.00M | $493.00M | $592.00M | $550.00M | $654.00M | $674.00M |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | +155.5% | +23.5% | -8.4% | +55.7% | -17.0% | -10.9% | +50.8% | -10.7% | +20.1% | -7.1% | +18.9% | +3.1% |
| YoY Change | — | — | — | — | +155.5% | +215.5% | +189.1% | +350.0% | +46.3% | +5.5% | +73.6% | -0.4% | +44.0% | +50.3% | +18.5% | +36.7% |