{
  "docId": "019de073-3e27-718a-ada0-a5d97af73edd",
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  "documentTitle": "Apollo Global Management | Results Presentation Deck | 45 slides",
  "authorId": "apollo-global-management",
  "authorName": "Apollo Global Management",
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  "presentationDate": "2022-08-01 00:00:00",
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  "notes": "Includes footnotes regarding AUM composition and transaction details.",
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      "kind": "chart",
      "text": "Perpetual Capital AUM ($bn)",
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      "text": "Fee Related Revenues from Perpetual Capital ($mn)",
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      "text": "Apollo has compounded growth of perpetual capital AUM by 20% annually over the last eight years, reflecting strong growth across several perpetual capital vehicles, the largest of which is Athene. Fee related revenues from perpetual capital vehicles represent approximately 50% of total fee related revenues. The quarter-over-quarter decline was driven by the absence of catch-up management fees from the first quarter and lower fee-generating AUM for Athora due to foreign exchange depreciation and market related changes. On July 14, 2022, Athora announced a block acquisition from AXA Germany currently representing €19 billion of AUM, which is expected to close by the end of 2023.",
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      "kind": "source-note",
      "text": "1. Perpetual Capital AUM as of 2Q'22 was comprised of Athene ($225 billion), Athora ($44 billion), MidCap ($11 billion), ARI ($9 billion), AINV/Other ($8 billion), and AFT/AIF ($1 billion). 2. Includes $4 billion of AUM related to a non-traded business development company. 3. Transaction remains subject to receipt of requisite regulatory and other approvals.",
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      "kind": "title",
      "text": "Asset Management: Perpetual Capital",
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      "objective": "To demonstrate the logic behind Apollo's financial performance",
      "structure": "Premise 1 (Accepted truth) -> Premise 2 (Observed fact) -> Therefore... (Inevitable conclusion)",
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