Apollo Global Management has announced economic net income of $394.1 million for 4Q 2016, equivalent to 98 cents per share, marking a much larger increase in the value of the firm’s portfolio than industry analysts expected and representing a nearly 12-fold YoY increase. The firm reported even more growth in overall earnings, which climbed to $167 million during 4Q, a whopping 27x increase YoY.
Apollo’s private equity portfolio deployed $1.4 billion, realized $609 million and appreciated 5.9% during 4Q, the latter figure resulting in a 13.5% uptick for fiscal year 2016. For comparison, a few days prior, Blackstone announced a 4.5% appreciation for its PE portfolio during 4Q. As of quarter-end, Apollo has deployed 67% of its massive Fund VIII, which closed on $18.4 billion in 2013.