Private Equity

Apollo swings to profit after fees jump

Fees jump 24% as private equity giant posts $660m profit for the third quarter

Apollo tops analyst expectations after tough run
Apollo tops analyst expectations after tough run Photo: Igor Golovniov/Getty Images

Apollo Global Management swung to a profit in the third quarter, boosted by higher fees and spread-related earnings.

The private equity firm posted a third-quarter profit of $660m, or $1.10 a share, compared with a loss of $563m, or 98 cents a share, a year earlier.

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