Apollo Global Management (APO-PA) 8-K Regulation FD Disclosure

EXHIBIT 99.1

UNAUDITED RECONCILIATION OF FINANCIAL DATA

The following tables present the historical unaudited financial information for the Apollo Operating Group as of and for the three months ended March 31, 2016. The Apollo Operating Group does not report audited or unaudited financial information on a stand-alone basis. Accordingly, the financial data presented herein for the Apollo Operating Group has been reconciled to Apollo Global Management, LLC’s financial statements for the relevant periods.

	As of March 31, 2016
	Total Apollo Operating Group Consolidated			VIE & Consolidated Funds			Other (1)			Total Apollo Global Management, LLC Consolidated
	(dollars in thousands)
Statement of Financial Data
Assets:
Cash and cash equivalents	$	537,945		$	-		$	4,538		$	542,483
Cash and cash equivalents held at consolidated funds		-			6,920			-			6,920
Restricted cash		5,356			-			-			5,356
Investments		1,208,361			24,066			(98,868	)		1,133,559
Assets of consolidated variable interest entities:
Cash and cash equivalents		-			33,133			-			33,133
Investments, at fair value		-			964,099			(306	)		963,793
Other assets		-			59,582			-			59,582
Carried interest receivable		490,403			-			-			490,403
Due from affiliates		538,368			-			(276,465	)		261,903
Deferred tax assets		11,532			-			638,643			650,175
Other assets		88,912			7,664			(100	)		96,476
Goodwill		88,852			-			-			88,852
Intangible assets, net		28,132			-			-			28,132
Total Assets	$	2,997,861		$	1,095,464		$	267,442		$	4,360,767
Liabilities and Shareholders’ Equity
Liabilities:
Accounts payable and accrued expenses	$	98,661		$	-		$	-		$	98,661
Accrued compensation and benefits		50,131			-			-			50,131
Deferred revenue		175,536			-			-			175,536
Due to affiliates		88,092			-			506,162			594,254
Profit sharing payable		257,504			-			-			257,504
Debt		1,046,012			-			-			1,046,012
Liabilities of consolidated variable interest entities:
Debt, at fair value		-			878,306			(43,688	)		834,618
Other liabilities		-			74,172			(140	)		74,032
Due to affiliates		-			735			(735	)		-
Other liabilities		36,042			6,983			-			43,025
Total Liabilities	$	1,751,978		$	960,196		$	461,599		$	3,173,773
Shareholders’ Equity:
Apollo Global Management, LLC shareholders’ Equity:
Additional paid in capital		-			-			1,957,692			1,957,692
Accumulated deficit		693,378			34,758			(2,131,390	)		(1,403,254	)
Accumulated other comprehensive (loss) income		(3,802	)		(1,581	)		305			(5,078	)
Total Apollo Global Management, LLC shareholders’ equity		689,576			33,177			(173,393	)		549,360
Non-Controlling Interests in consolidated entities		7,673			102,091			(20,764	)		89,000
Non-Controlling Interests in Apollo Operating Group		548,634			-			-			548,634
Total Shareholders’ Equity		1,245,883			135,268			(194,157	)		1,186,994
Total Liabilities and Shareholders’ Equity	$	2,997,861		$	1,095,464		$	267,442		$	4,360,767

(1) Includes eliminations for VIE and Fund consolidation and entities not included in the Apollo Operating Group.

	For the Three Month Ended March 31, 2016
	Total Apollo Operating Group Consolidated			VIE & Consolidated Funds			Other (1)			Total Apollo Global Management, LLC Consolidated
	(dollars in thousands)
Statement of Operating Data:
Revenues:
Advisory and transaction fees from affiliates, net	$	7,999		$	-		$	-		$	7,999
Management fees from affiliates		234,447			(31	)		(621	)		233,795
Carried interest income (loss) from affiliates		(120,968	)		-			-			(120,968	)
Total Revenues		121,478			(31	)		(621	)		120,826
Expenses:
Compensation and benefits:
Salary, bonus and benefits		97,234			-			-			97,234
Equity-based compensation		14,002			-			-			14,002
Profit sharing expense		(37,605	)		-			-			(37,605	)
Total Compensation and Benefits		73,631			-			-			73,631
Interest expense		7,873			-			-			7,873
General, administrative and other		27,691			34			19			27,744
Professional fees		16,434			-			-			16,434
Occupancy		9,822			-			-			9,822
Placement fees		1,764			-			-			1,764
Depreciation and amortization		4,631			-			-			4,631
Total Expenses	$	141,846		$	34		$	19		$	141,899
Other  Income (Loss):
Net gains (loss) from investment activities		(56,498	)		29			-			(56,469	)
Net gains (loss) from investment activities of consolidated variable interest entities		-			(63	)		1,382			1,319
Income (loss) from equity method investments		(3,528	)		-			(289	)		(3,817	)
Interest income (loss)		1,006			339			(760	)		585
Other loss, net		(253	)		-			-			(253	)
Total Other Income (Loss)		(59,273	)		305			333			(58,635	)
Income (loss) before income tax (provision) benefit		(79,641	)		240			(307	)		(79,708	)
Income tax (provision) benefit		951			-			4,196			5,147
Net Income (Loss)		(78,690	)		240			3,889			(74,561	)
Net (income) loss attributable to Non-Controlling Interests		41,685			48			-			41,733
Net Income (Loss) Attributable to Apollo Global Management, LLC	$	(37,005	)	$	288		$	3,889		$	(32,828	)

(1) Includes eliminations for VIE and Fund consolidation and entities not included in the Apollo Operating Group.