Private Equity: Apollo Global Management Reports Earnings

January 30, 2020 | Investments, News, Private Equity
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Leon Black Praises Firm for 2019 Performance

Apollo Global Management earnings arrived this morning. Apollo reported fee-related earnings of $0.59 per share for the quarter and $2.19 per share for the full year. That is a gain of 17% over 2018. The demand for private equity and private credit firms has been exceptionally strong thanks to extended stock prices and low-interest rates and Apollo was well-positioned to benefit.

Apollo Global Management Earnings and Dividend

Apollo has declared a cash dividend of $0.89 per share of its Class A Common Stock for the fourth quarter ended December 31, 2019. This dividend will be paid on February 28, 2020, to holders of record at the close of business on February 11, 2020. Apollo has a policy of paying out all after-tax earnings minus whatever small amount is needed to run the business as determined by the board. Their minimum payout will be $.40 a quarter.

“Our results for the fourth quarter of 2019 capped another exceptional year for Apollo, driven by strong investment performance across our integrated global platform,” said Leon Black, Chairman and CEO. “Apollo generated fee-related earnings of $0.59 per share for the quarter and $2.19 per share for the full year, an increase of 17% versus the prior year, which highlights the growing earnings power of our business. In addition, we attracted capital inflows of $64 billion during 2019, bringing total assets under management at year-end to $331 billion, half of which is permanent capital. We believe this positive momentum leaves Apollo well-positioned as we head into 2020 and beyond.”

We will learn more during today’s conference call. I will report on it tomorrow.

By: Tim Melvin

Recent: Community Banking: Expect MOE Bank Deals and Other Takeovers in 2020

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