Apollo Global Management’s assets under management hit a new high of $840bn as the US firm accelerated its pace of investing with markets whipsawing on the back of President Donald Trump’s tariffs.
The New York-headquartered firm drew in $61bn of fresh capital in the second quarter, two-thirds of which came from its asset management arm as large institutional investors and wealthy individuals sought to capitalise on market volatility.
The company was particularly active in the weeks after Trump launched his trade offensive on many of the largest US economic partners in early April, with chief executive Marc Rowan telling investors in May that Apollo had raced to raise capital and invest as markets slid.