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  "documentTitle": "Apollo Global Management | Investor Day Presentation Deck | 157 slides",
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  "authorName": "Apollo",
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  "presentationDate": "2022-06-01 00:00:00",
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  "notes": "The slide uses a combination of a line chart for historical spread and a process diagram for the components of SRE.",
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      "kind": "chart",
      "text": "STABLE RECURRING SPREAD",
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      "kind": "diagram",
      "text": "SPREAD COMPONENTS: Growth in Net Invested Assets, Yield on Net Invested Assets Less Cost of Funds, Fees on Assets in Sidecar (ADIP), Operating Expenses & Financing Costs",
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      "text": "1. Normalized net investment spread excludes notable items and normalizes alternative income to an 11% long-term return, net of offsets. 2. Athene earns ~15bps on all liabilities ADIP supports. 3. Forecasted through 2026E.",
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      "text": "SRE = Low Double Digit CAGR",
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      "kind": "title",
      "text": "Components of Spread Related Earnings",
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