Apollo's Q3 profit increases 12% on gains from retirement business

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Apollo's Q3 profit increases 12% on gains from retirement business - Business Standard

Quick Summary:

Alternative investment firms such as Apollo have been taking advantage of demand for capital from companies that banks find too risky to serve.

The firm benefited from demand for its products such as private credit as the US Federal Reserve started easing policy rates, but remains restrictive to economic growth.

Apollo reported a record quarter for fee-related earnings of $531 million, primarily driven by growth in asset management.