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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
October 2, 2025
Apollo Global Management, Inc.
(Exact name of registrant as specified in its charter)
| Delaware |
|
001-41197 |
|
86-3155788 |
(State or other jurisdiction
of incorporation) |
|
(Commission
File Number) |
|
(IRS Employer
Identification No.) |
9 West 57th Street, 42nd Floor
New York, New York 10019
(Address of principal executive offices) (Zip Code)
(212) 515-3200
(Registrant’s Telephone Number, Including Area
Code)
N/A
(Former Name or Former Address, if Changed Since Last
Report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
| ☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
|
Title of each
class |
|
Trading
Symbol(s) |
|
Name of each exchange
on which registered |
| Common Stock |
|
APO |
|
New York Stock Exchange |
| 6.75% Series A Mandatory Convertible Preferred Stock |
|
APO.PRA |
|
New York Stock Exchange |
| 7.625% Fixed-Rate Resettable Junior Subordinated Notes due 2053 |
|
APOS |
|
New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ☐
| Item 2.02 | Results of Operations and Financial Condition. |
The information contained in Item 7.01 of this Current
Report on Form 8-K is hereby incorporated by reference into this Item 2.02.
| Item 7.01 | Regulation FD Disclosure. |
Apollo Global Management, Inc. (the “Company”,
“Apollo”, “we”, and “our”) and Athene Holding Ltd. (“Athene”), a subsidiary of Apollo,
are reporting preliminary estimates for the Company’s alternative net investment income for the third quarter ended September 30,
2025. This information is being reported prior to the availability of the Company’s quarterly earnings release and quarterly financial
supplement for the third quarter, scheduled for release on November 4, 2025.
The Company estimates that alternative net investment
income will be approximately $325 million (pre-tax) for the third quarter ended September 30, 2025, which equates to an estimated
10% annualized return on alternative net investments. Within these alternative net investments, the Company estimates that the annualized
return on Athene’s investment in a pooled investment vehicle, through which it holds the large majority of its alternative investments
portfolio, equates to an estimated 10% for the third quarter ended September 30, 2025 and the annualized return on Athene’s
investments in other alternative investments including Athene's investments in retirement services platforms equates to an estimated 8%
for the third quarter ended September 30, 2025. Excluded from these figures is alternative investment income attributable to non-controlling
interests. Alternative net investment income is a component of Spread Related Earnings used to assess the performance of the Company's
Retirement Services segment. Spread Related Earnings is a component of Segment Income which is the key performance measure used by management
in evaluating the performance of its operating segments. Refer to the Company's earnings release, which may be accessed at ir.apollo.com,
for detailed definitions and reconciliations of the Company's segment measures.
The preliminary financial results presented above
are the responsibility of management and have been prepared in good faith on a basis consistent with prior periods. However, we have not
completed our financial closing procedures for the period ended September 30, 2025, and our actual results may differ, possibly materially,
from these preliminary financial results due to a variety of factors. Additionally, our independent registered public accounting firm
has not audited, reviewed, compiled or performed any procedures with respect to these preliminary financial results and does not express
an opinion or provide any other form of assurance with respect to these preliminary financial results or their achievability. During the
course of the preparation of our consolidated financial statements and related notes as of and for the period ended September 30,
2025, we may identify items that would require us to make material adjustments to the preliminary financial results presented above. As
a result, investors should exercise caution in relying on this information and should not draw any inferences from this information regarding
financial or operating data not provided. These preliminary financial results should not be viewed as a substitute for full financial
statements prepared in accordance with U.S. GAAP. In addition, these preliminary financial results should not be interpreted as indicative
of future performance.
The foregoing information is being furnished pursuant
to Item 2.02 and Item 7.01 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated
by reference in any filing or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, regardless of any
general incorporation language in such filing or document, except as shall be expressly set forth by specific reference in such a filing
or document.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
| |
APOLLO GLOBAL MANAGEMENT, INC. |
|
| |
|
|
|
| |
|
|
|
Date: October 2, 2025
|
By: |
/s/
Martin Kelly |
|
| |
|
Name: |
Martin Kelly |
|
| |
|
Title: |
Chief Financial Officer |
|
