Apollo Global Management reported record fee-related earnings of $785 million in Q2, a 25% increase year-over-year, with fee margins expanding to 58.5%. The company saw strong 34% growth in fee-generating assets under management and achieved a record $60 billion in organic inflows. Despite these gains, Apollo's stock trades at a valuation below its level at the start of the year. The firm aims for 20% annual fee earnings growth over five years, supported by 70% of assets in perpetual capital, which helps reduce earnings volatility and downside risk. Investors may see double-digit returns if the stock multiple recovers and dividend growth continues.
Nvidia's AI chip sales hit record revenue, but the company is increasingly financing AI infrastructure, extending payment terms and committing nearly $100 billion in equity investments. This dual role supports smaller AI players but creates cash flow...
Markets are trading near record highs even as bond yields reach levels not seen since 2007 and energy prices stay high. However, private credit markets are showing signs of stress with record default rates and redemption gates at major funds like Apo...
