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

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.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Apollo Global Management Q3 revenue Apollo Global Management Q3 profit Apollo Global Management Q3 results Apollo Global Management

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-05 @ 17:45:41 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 407 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 20 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23430448

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