Apollo Global Management released 4Q and full-year 2015 results on Wednesday, announcing decidedly lower performance from the same period a year ago. The firm's economic net income declined from $106 million in 4Q 2014 to $33 million in 4Q 2015, representing a 69% YoY decline in the metric. Apollo founder and CEO Leon Black unveiled plans for the firm to “opportunistically” buy back around 5% of outstanding shares. This comes in contrast to Blackstone’s Stephen Schwarzman who in his firm’s earnings call last week came out against buybacks, claiming Blackstone’s strategy is to deploy the capital to have skin in the game in fundraising vehicles. Apollo currently has $26.1 billion in dry powder and $170.1 billion in total assets under management.