Apollo Diversified Real Estate Fund Class L · NASDAQ:GLREX
Apollo Diversified Real Estate Fund Class L — Apollo Global Management — FY2021 Earnings Presentation
18 slides from Apollo Diversified Real Estate Fund Class L's earnings presentation, Feb 11, 2022
Slide 1: Update to Non-GAAP Measures
Apollo Global Management, Inc. Update to Non-GAAP Measures February 11, 2022
Slide 2: Explanatory Note
Explanatory Note Apollo Global Management, Inc. (together with its subsidiaries, “Apollo”) is providing this presentation to reflect supplemental non-GAAP financial information for the quarter and year ended December 31, 2021. This presentation is an update to the non-GAAP information for historical
Slide 3: Segment Earnings and Assets Under Management
Segment Earnings and Assets Under Management Apollo Investor Day 2021
Slide 4: Total Segment Earnings (Unaudited)
Total Segment Earnings (Unaudited) • Pro forma for the merger with Athene, the combined company will present its reportable business segments as Asset Management, Retirement Services and Principal Investing, and will report “Fee Related Earnings”, “Spread Related Earnings”, and “Principal Investing
Slide 5: Financial Presentation of New Segments
Financial Presentation of New Segments ($ in millions) 1Q'19 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 3Q'20 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 FY'19 FY'20 FY'21 Asset Management Management fees $ 358.6 $ 366.3 $ 378.4 $ 387.8 $ 382.4 $ 401.8 $ 426.5 $ 437.3 $ 453.9 $ 468.8 $ 472.5 $ 483.0 $ 1,491.1 $ 1,648.0 $ 1,87
Slide 6: Fee Related Revenues by Asset Management Strategy
Fee Related Revenues by Asset Management Strategy ($ in millions) 1Q'19 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 3Q'20 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 FY'19 FY'20 FY'21 Management fees - Yield $ 191.3 $ 198.7 $ 207.4 $ 215.0 $ 214.5 $ 227.7 $ 251.5 $ 263.6 $ 281.1 $ 291.7 $ 299.2 $ 300.0 $ 812.4 $ 957.3 $ 1,172.
Slide 7: Total AUM & Fee-Generating AUM
Total AUM & Fee-Generating AUM Total AUM Rollforward1 Fee-Generating AUM Rollforward1 ($ in millions) Yield Hybrid Equity Total ($ in millions) Yield Hybrid Equity Total 4Q'18 $176,470 $27,379 $76,410 $280,259 4Q'18 $152,136 $11,378 $50,853 $214,367 Inflows 19,877 1,033 1,829 22,739 Inflows 13,194 8
Slide 8: Total AUM & Fee-Generating AUM
Total AUM & Fee-Generating AUM Total AUM Rollforward1 Fee-Generating AUM Rollforward1 ($ in millions) Yield Hybrid Equity Total ($ in millions) Yield Hybrid Equity Total 4Q'19 $218,278 $34,362 $78,465 $331,105 4Q'19 $183,112 $15,726 $47,608 $246,446 Inflows 9,758 796 492 11,046 Inflows 8,266 3,077 1
Slide 9: Total AUM & Fee-Generating AUM
Total AUM & Fee-Generating AUM Total AUM Rollforward1 Fee-Generating AUM Rollforward1 ($ in millions) Yield Hybrid Equity Total ($ in millions) Yield Hybrid Equity Total 4Q'20 $332,880 $42,317 $80,289 $455,486 4Q'20 $285,830 $17,622 $45,222 $348,674 Inflows 11,628 2,806 889 15,323 Inflows 9,335 1,70
Slide 10: Retirement Services Flows & Invested Assets
Retirement Services Flows & Invested Assets ($ in millions) 1Q'19 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 3Q'20 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 FY'19 FY'20 FY'21 Retail $ 1,816 $ 1,909 $ 1,921 $ 1,136 $ 1,246 $ 1,791 $ 2,465 $ 2,299 $ 1,757 $ 1,749 $ 2,372 $ 2,903 $ 6,782 $ 7,801 $ 8,781 Flow reinsurance 1,020
Slide 11: Reconciliations and Disclosures
Reconciliations and Disclosures Apollo Investor Day 2021
Slide 12: Reconciliation of GAAP to Non-GAAP Financial Measures - Apollo
Reconciliation of GAAP to Non-GAAP Financial Measures - Apollo ($ in millions) 1Q'19 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 3Q'20 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 FY'19 FY'20 FY'21 GAAP Net Income (Loss) Attributable to Apollo Global $ 139.9 $ 155.7 $ 354.1 $ 156.8 $ (1,005.4) $ 437.2 $ 263.2 $ 425.0 $ 669.7 $
Slide 13: Reconciliation of GAAP to Non-GAAP Financial Measures - Apollo cont’d
Reconciliation of GAAP to Non-GAAP Financial Measures - Apollo cont’d ($ in millions) 1Q'19 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 3Q'20 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 FY'19 FY'20 FY'21 Total Consolidated Revenues (GAAP) $ 677.8 $ 636.6 $ 702.7 $ 914.7 $ (1,469.1) $ 1,508.3 $ 1,018.3 $ 1,296.5 $ 2,294.7 $ 1,3
Slide 14: Reconciliation of GAAP to Non-GAAP Financial Measures - Athene
Reconciliation of GAAP to Non-GAAP Financial Measures - Athene ($ in millions) 1Q'19 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 3Q'20 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 FY'19 FY'20 FY'21 GAAP Net Income (Loss) Attributable to Athene Holding Ltd. $ 708.4 $ 719.5 $ 276.4 $ 431.5 $ (1,065.4) $ 824.4 $ 621.8 $ 1,065.1 $
Slide 15: Non-GAAP Financial Information & Definitions
Non-GAAP Financial Information & Definitions Apollo discloses the following financial measures that are calculated and presented on the basis of methodologies other than in accordance with generally accepted accounting principles in the United States of America (“Non-GAAP”): • “Pre-tax Distributable
Slide 16: Non-GAAP Financial Information & Definitions
Non-GAAP Financial Information & Definitions • “Assets Under Management”, or “AUM”, refers to the assets of the funds, partnerships and accounts to which Apollo provides investment management, advisory, or certain other investment-related services, including, without limitation, capital that such fu
Slide 17: Non-GAAP Financial Information & Definitions
Non-GAAP Financial Information & Definitions • “ADIP” refers to Apollo/Athene Dedicated Investment Program. • “Net Invested Assets” - In managing its business, Athene analyzes net invested assets, which does not correspond to total investments, including investments in related parties, as disclosed
Slide 18: Forward-Looking Statements
Forward-Looking Statements In this presentation, references to “Apollo,” “we,” “us,” “our” and the “Company” refer collectively to Apollo Global Management, Inc. and its subsidiaries, unless the context otherwise indicates. This presentation contains forward-looking statements that are within the me
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