Apollo Global Management, Inc. (new) · NYSE:APO
Apollo Global Management, Inc. (new) — Apollo Global Management — Corporate Update (January 2022)
20 slides from Apollo Global Management, Inc. (new)'s corporate update, Jan 14, 2022
Slide 1: Update to Non-GAAP Measures
Apollo Global Management, Inc. Update to Non-GAAP Measures January 14, 2022
Slide 2: Overview
Overview Amid the then pending merger with Athene, in 2021, Apollo undertook a strategic review of its operating structure and business segments to better assess the performance of its businesses and the allocation of resources. Concurrent with the completion of the merger, Apollo has changed the pr
Slide 3: Overview (cont'd)
Overview (cont’d) Changes in Compensation Structure • As previously communicated, Apollo has reset its compensation structure in conjunction with the closing of the Athene merger to create better alignment with shareholders and employees. Apollo expects performance fees to encompass a greater portio
Slide 4: New Financial Construction With Three Pillars of Strength
New Financial Construction With Three Pillars of Strength DISTRIBUTABLE EARNINGS DERIVED FROM DIVERSIFIED AND GROWING EARNINGS STREAMS Asset Management Retirement Services Principal Investing • Growing management fees • Income from investment grade • Strategic equity investments backed by high conce
Slide 5: Segment Earnings and Assets Under Management
Segment Earnings and Assets Under Management Apollo Investor Day 2021
Slide 6: 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 7: 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 FY'19 FY'20 YTD'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 $ 1,491.1 $ 1,648.0 $ 1,395.2 Advisory
Slide 8: 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 FY'19 FY'20 YTD'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 $ 812.4 $ 957.3 $ 872.0 Management fe
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'18 $176,470 $27,379 $76,410 $280,259 4Q'18 $152,136 $11,378 $50,853 $214,367 Inflows 19,877 1,033 1,829 22,739 Inflows 13,194 8
Slide 10: Total AUM & Fee-Generating AUM
Total AUM & Fee-Generating AUM Total AUM Rollforward1 Fee-Generating AUM Rollforward1 ($ 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 $246,446 Inflows 9,758 796 492 11,046 Inflows 8,266 3,077 1
Slide 11: Total AUM & Fee-Generating AUM
Total AUM & Fee-Generating AUM Total AUM Rollforward1 Fee-Generating AUM Rollforward1 ($ 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 $348,674 Inflows 11,628 2,806 889 15,323 Inflows 9,335 1,70
Slide 12: Retirement Services Flows & Invested Assets
Retirement Services Flows & Invested Assets ($ in millions) 1Q'19 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 3Q'20 4Q'20 1Q'21 2Q'21 3Q'21 FY'19 FY'20 YTD'21 Retail $ 1,816 $ 1,909 $ 1,921 $ 1,136 $ 1,246 $ 1,791 $ 2,465 $ 2,299 $ 1,757 $ 1,749 $ 2,372 $ 6,782 $ 7,801 $ 5,878 Flow reinsurance 1,020 1,125 609 1,1
Slide 13: Reconciliations and Disclosures
Reconciliations and Disclosures Apollo Investor Day 2021
Slide 14: 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 FY'19 FY'20 YTD'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 $648.6 $249.1 $8
Slide 15: Reconciliation of GAAP to Non-GAAP Financial Measures - Apollo cont'd
Reconciliation of GAAP to Non-GAAP Financial Measures - Apollo cont’d ($ in millions) 1Q'19 2Q'19 3Q'19 4Q'19 1Q'20 2Q'20 3Q'20 4Q'20 1Q'21 2Q'21 3Q'21 FY'19 FY'20 YTD'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 $ 1,382.3
Slide 16: 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 FY'19 FY'20 YTD'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 $578.1 $1,381.7
Slide 17: 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 18: 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 19: 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 20: 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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