There is always a winner in the carnage …. Apollo generated a record $397mn in fee-related earnings, drew in $57bn in new assets during Q1, including $37bn from #CreditSuisse securitized products unit deal.
Higher interest rates boosted the spread that Apollo earns on the premiums it invests for policyholders of its Athene annuities unit. The vast majority of Apollo’s $598bn in assets are now insurance assets.
Its adjusted net income rose 18 per cent to $942mn.
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