Apollo Global Management posts record $60B inflows, boosting assets to $1.05T and fee earnings 25% higher.

Apollo Global Management reported record quarterly inflows of $60 billion, pushing its assets under management to $1.05 trillion. Nearly 60% of its capital is perpetual, with $82 billion in dry powder ready for deployment. Fee-related earnings hit a record $785 million, up 25% year-over-year, driven by stable recurring management fees and limited reliance on volatile performance fees. Despite recent stock underperformance, the company’s strong fundraising, resilient fee income, and robust balance sheet support a fair value estimate of $155 per share, suggesting potential stock gains above $150.