3Q'26 Apollo Global Management, Inc Earnings Conference Call

Apollo Global Management achieved record third-quarter 2026 results, generating $802 million in fee-related earnings and $909 million in spread-related earnings. Growth remains anchored in strong origination pipelines across energy, infrastructure, and compute sectors, with $114 billion in quarterly origination activity. The firm is aggressively scaling its platform by standardizing private assets through estimated daily values, CUSIP identification, and enhanced market-making capabilities, aiming to capture a larger share of the retirement income and individual investor markets. Management emphasizes a defensive posture in credit, prioritizing senior secured assets, while simultaneously committing $350 million over the next two years to modernize technology and data infrastructure. Looking ahead, the firm remains on track for its 2029 five-year plan, bolstered by a favorable regulatory outlook and a shift toward serving clients where they currently operate within public market frameworks.