Apollo Global Management, Inc 8-K, filed May 9, 2023
Apollo Global Management, Inc. (APO)
8-K
2023-05-09
For: 2023-05-09
View Original
Added on
April 08, 2026
About this 8-K
Apollo Global Management, Inc filed this 8-K on May 9, 2023.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 9, 2023
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||||||||
(Address of principal executive offices) (Zip Code)
(212 ) 515-3200
(Registrant's telephone number, including area code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure.
The exhibit attached hereto as Exhibit 99.1 is included in Apollo Global Management, Inc.’s ("Apollo") first quarter 2023 financial supplement posted on the Investor Relations portion of the its website and is being included here as an exhibit as it may be referenced on Apollo’s upcoming earnings conference call.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | ||||
| Financial supplement exhibit | |||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||
The information included in Item 7.01 “Regulation FD Disclosure” and Item 9.01 “Financial Statements and Exhibits” of this Current Report on Form 8-K (including the exhibits hereto) is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be incorporated by reference into a filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| APOLLO GLOBAL MANAGEMENT, INC. | ||||||||
| Date: | By: | /s/ Martin Kelly | ||||||
| Martin Kelly | ||||||||
| Chief Financial Officer | ||||||||
Outflows attributable to Athene by type1 ($ in millions) 1Q'21 2Q'21 3Q'21 4Q'21 1Q'22 2Q'22 3Q'22 4Q'22 1Q'23 Maturity-driven, contractual-based outflows2 $ (323) $ (479) $ (579) $ (796) $ (1,384) $ (1,305) $ (2,834) $ (1,472) $ (1,717) Policyholder-driven outflows3 (3,158) (3,462) (3,167) (2,797) (2,688) (2,757) (2,969) (3,453) (3,814) Income oriented withdrawals (planned)4 (1,506) (1,451) (1,363) (1,585) (1,529) (1,413) (1,516) (1,813) (1,766) From policies out-of-surrender-charge (planned)5 (1,179) (1,577) (1,374) (867) (865) (1,075) (1,131) (1,188) (1,480) From policies in-surrender-charge (unplanned)6 (473) (434) (430) (345) (294) (269) (322) (452) (568) Core outflows $ (3,481) $ (3,941) $ (3,746) $ (3,593) $ (4,072) $ (4,062) $ (5,803) $ (4,925) $ (5,531) Strategic reinsurance transaction — — — — — — — (4,862) — Outflows attributable to Athene $ (3,481) $ (3,941) $ (3,746) $ (3,593) $ (4,072) $ (4,062) $ (5,803) $ (9,787) $ (5,531) Annualized rate7 Maturity-driven, contractual-based outflows2 (0.9) % (1.3) % (1.4) % (1.9) % (3.1) % (2.8) % (5.9) % (3.0) % (3.4) % Policyholder-driven outflows3 (8.3) % (8.8) % (7.9) % (6.6) % (5.9) % (5.9) % (6.2) % (7.1) % (7.6) % Income oriented withdrawals (planned)4 (4.0) % (3.7) % (3.4) % (3.8) % (3.4) % (3.0) % (3.2) % (3.7) % (3.5) % From policies out-of-surrender-charge (planned)5 (3.1) % (4.0) % (3.4) % (2.0) % (1.9) % (2.3) % (2.3) % (2.5) % (3.0) % From policies in-surrender-charge (unplanned)6 (1.2) % (1.1) % (1.1) % (0.8) % (0.6) % (0.6) % (0.7) % (0.9) % (1.1) % Core outflows (9.2) % (10.1) % (9.3) % (8.5) % (9.0) % (8.7) % (12.1) % (10.1) % (11.0) % Strategic reinsurance transaction — % — % — % — % — % — % — % (9.9) % — % Outflows attributable to Athene (9.2) % (10.1) % (9.3) % (8.5) % (9.0) % (8.7) % (12.1) % (20.0) % (11.0) % Invested Assets ($ in millions) 1Q'21 2Q'21 3Q'21 4Q'21 1Q'22 2Q'22 3Q'22 4Q'22 1Q'23 Gross Invested Assets $ 182,296 $ 188,751 $ 199,144 $ 210,225 $ 221,720 $ 229,545 $ 236,720 $ 238,310 $ 247,673 Invested assets attributable to ADIP (26,593) (27,937) (32,924) (34,882) (37,449) (40,240) (41,563) (41,859) (40,924) Net Invested Assets8 $ 155,703 $ 160,814 $ 166,220 $ 175,343 $ 184,271 $ 189,305 $ 195,157 $ 196,451 $ 206,749 Fixed income and other investments 146,418 151,253 155,969 163,358 172,765 177,464 182,822 184,372 194,646 Alternative investments 8,004 7,831 8,525 9,873 11,506 11,841 12,335 12,079 12,103 Investment in Apollo 1,281 1,730 1,726 2,112 — — — — — 1. The format and methodology of this table was updated to provide additional information. 2. Represents outflows from funding agreements, pension group annuities and multi-year guarantee fixed annuities (MYGA), all of which occur based on defined maturities or substantially lapse upon reaching their contractual term. Amounts may vary on a quarterly basis, based on the timing of original issuance. 3. Represents outflows from fixed index annuities and other applicable products, which have varying degrees of predictability due to policyholder actions. 4. Represents partial annuity withdrawals to meet retirement income needs within contractual annual limits. 5. Represents outflows from policies that no longer have an active surrender charge in force. 6. Represents outflows from policies with an active surrender charge in force. 7. The outflow rate is calculated as outflows divided by Athene average net invested assets for the respective period, on an annualized basis. 8. Net Invested Assets represent the investments that directly back Athene’s net reserve liabilities as well as surplus assets. Net invested assets are a component of Apollo’s total AUM reported under the Asset Management segment and should not be viewed as additive to total AUM disclosed previously. Retirement Services Outflows & Invested Assets