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Apollo Global Management is a major alternative investment firm with strategies across private equity, credit, real assets, and structured solutions. The firm also operates a retirement-services business through Athene. Because Apollo’s business model is built around long-duration capital and recurring fees, the most useful “by-the-numbers” view focuses on assets under management (AUM), fee-generating AUM, and the firm’s core earnings metrics like fee-related earnings (FRE) and spread-related earnings (SRE).
This updated page replaces stale, hard-to-verify stats (older headcount, old AUM from third-party sites, and long lists of portfolio companies) with the newest Apollo-reported results and year-labeled historical context.
Apollo Stats at a Glance (Latest Available)
- Total AUM (Dec 31, 2025): $938B
- Fee-generating AUM (Dec 31, 2025): $709B
- Inflows (2025): $228B
- Origination volume (2025): $309B
- Fee-related earnings (FRE) (2025): $2.528B
- Spread-related earnings (SRE) (2025): $3.361B
- Fee + Spread related earnings (2025): $5.889B
- Adjusted net income (ANI) (2025): $5.195B
- GAAP net income attributable to common stockholders (2025): $3.395B
- Quarterly dividend declared (Q4 2025): $0.51 per share
Key Metrics Table
| Metric | Value | Year / Date | Source |
|---|---|---|---|
| Assets under management (AUM) | $938B | Dec 31, 2025 | Apollo FY2025 results (8-K PDF) |
| Fee-generating AUM (FGAUM) | $709B | Dec 31, 2025 | Apollo FY2025 results (8-K PDF) |
| Inflows | $228B | Full-year 2025 | Apollo FY2025 results (8-K PDF) |
| Origination volume | $309B | Full-year 2025 | Apollo FY2025 results (8-K PDF) |
| Fee-related earnings (FRE) | $2.528B | Full-year 2025 | Apollo FY2025 results (8-K PDF) |
| Spread-related earnings (SRE) | $3.361B | Full-year 2025 | Apollo FY2025 results (8-K PDF) |
| Adjusted net income (ANI) | $5.195B | Full-year 2025 | Apollo FY2025 results (8-K PDF) |
| GAAP net income attributable to common stockholders | $3.395B | Full-year 2025 | Apollo FY2025 results (8-K PDF) |
| Asset management employees | 3,125 | Dec 31, 2024 | Apollo Form 10-K (2024) (HTML) |
How Big Is Apollo? Assets Under Management (AUM)
Apollo reported $938 billion in assets under management (AUM) as of December 31, 2025. The firm also reported $709 billion in fee-generating AUM (the portion of AUM that generally produces management fees and other recurring investment-related fees).
Core Earnings: FRE, SRE, and Adjusted Net Income
Apollo commonly emphasizes non-GAAP earnings metrics that reflect its recurring earnings power. For full-year 2025, Apollo reported:
- Fee-related earnings (FRE): $2.528B
- Spread-related earnings (SRE): $3.361B
- Fee + Spread related earnings: $5.889B
- Adjusted net income (ANI): $5.195B
For GAAP reporting, Apollo reported $3.395B in net income attributable to Apollo Global Management, Inc. common stockholders in 2025.
Growth Engines: Inflows and Origination
Apollo reported $228B of inflows and $309B of origination volume for full-year 2025. These two numbers matter because they signal:
- Inflow momentum: how fast the platform is attracting new client capital
- Origination capacity: how much investment “supply” the firm is generating for deployment
Apollo Portfolio Companies
Apollo’s portfolio has spanned hundreds of companies over decades and changes frequently due to exits, restructurings, and new deals. Instead of a static list that goes stale, the most reliable approach is to view Apollo’s current strategy pages and firm updates.
See Apollo’s private equity overview and portfolio context
FAQ
How much money does Apollo manage?
Apollo reported approximately $938B in assets under management (AUM) as of Dec 31, 2025.
What is fee-generating AUM?
Fee-generating AUM is the portion of AUM that generally produces management fees and other recurring investment-related fees. Apollo reported $709B of fee-generating AUM as of Dec 31, 2025.
What is Apollo’s adjusted net income (ANI)?
Apollo reported $5.195B in adjusted net income for full-year 2025. The firm describes ANI as its primary non-GAAP earnings metric (built from FRE, SRE, and principal investing income, net of certain costs and taxes).
What are fee-related earnings (FRE) and spread-related earnings (SRE)?
In simple terms, FRE reflects recurring fee earnings from managing assets, while SRE is tied to spread earnings generated largely through the retirement services business. In 2025, Apollo reported FRE $2.528B and SRE $3.361B.
How many employees does Apollo have?
Apollo’s 2024 Form 10-K states that Apollo’s asset management business had 3,125 employees as of Dec 31, 2024. Note: this is not a “total workforce across every consolidated entity” count.
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