Apollo’s PE business drives up second-quarter earnings
A strong performance from Apollo Global Management’s private equity business saw second-quarter earnings reach $139.6 million, or US$0.31 per share, on the back of revenue jumped to $308.9 million from $79.3 million. According to US GAAP, Apollo posted a loss of $51 million, compared to a loss of $75.1 million a year earlier, Dow Jones Newswires reported.
Apollo's carried interest income - the fees earned on profits from assets under management - came to $164.1 million, by far the largest top-line contributor. Carried interest income posted a $54.7 million...
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