Apollo Global Management (APO-PA) 10-Q 9 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 06, 2015
Entity Information [Line Items]
Entity Registrant Name	Apollo Global Management LLC
Entity Central Index Key	1,411,494
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	APO
Amendment Flag	false
Common Class B Shares
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		1
Common Class A Shares
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		181,050,106

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets:
Cash and cash equivalents	$ 836,308	$ 1,204,052
Restricted cash	5,431	6,353
Investments	1,097,619	2,880,006
Other assets	85,795	84,384
Carried interest receivable	688,886	911,666
Due from affiliates	265,398	268,015
Fixed assets, net	32,975	35,906
Deferred tax assets	652,432	606,717
Goodwill	88,852	49,243
Intangible assets, net	36,219	60,039
Total Assets	4,818,050	23,178,837
Liabilities:
Accounts payable and accrued expenses	59,349	44,246
Accrued compensation and benefits	135,470	59,278
Deferred revenue	201,179	199,614
Due to affiliates	582,328	565,153
Profit sharing payable	366,661	434,852
Debt	1,031,428	1,034,014
Other liabilities	36,463	46,401
Total Liabilities	$ 3,298,627	$ 17,235,376
Commitments and Contingencies (see note 13)
Apollo Global Management, LLC shareholders’ equity:
Additional paid in capital	$ 2,050,681	$ 2,254,283
Accumulated deficit	(1,328,624)	(1,400,661)
Appropriated partners’ capital	0	933,166
Accumulated other comprehensive loss	(5,947)	(306)
Total Apollo Global Management, LLC shareholders’ equity	716,110	1,786,482
Total Shareholders’ Equity	1,519,423	5,943,461
Total Liabilities and Shareholders’ Equity	4,818,050	23,178,837
Common Class A Shares
Apollo Global Management, LLC shareholders’ equity:
Common shares	0	0
Common Class B Shares
Apollo Global Management, LLC shareholders’ equity:
Common shares	0	0
Consolidated entities
Assets:
Cash and cash equivalents	3,460	1,611
Apollo Global Management, LLC shareholders’ equity:
Non-Controlling Interests in consolidated entities	82,787	3,222,195
Consolidated Variable Interest Entities
Assets:
Cash and cash equivalents	29,424	1,088,952
Investments, at fair value	943,950	15,658,653
Other assets	51,301	323,240
Liabilities:
Other liabilities	60,427	728,718
Non-Controlling Interests in Apollo Operating Group
Apollo Global Management, LLC shareholders’ equity:
Non-Controlling Interests in consolidated entities	$ 720,526	$ 934,784

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Common Stock, Shares Authorized	Unlimited	Unlimited
Common Class A Shares
Par value
Shares issued	172,188,169	163,046,554
Shares outstanding	172,188,169	163,046,554
Common Class B Shares
Par value
Shares issued	1	1
Shares outstanding	1	1

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Advisory and transaction fees from affiliates, net	$ 9,276	$ 71,071	$ 34,269	$ 247,922
Management fees from affiliates	238,563	207,297	694,036	643,508
Carried interest income (loss) from affiliates	(54,571)	(57,233)	119,714	393,257
Total Revenues	193,268	221,135	848,019	1,284,687
Compensation and benefits:
Salary, bonus and benefits	93,514	90,402	270,017	260,764
Equity-based compensation	31,404	13,987	73,786	101,676
Profit sharing expense	(20,329)	(5,804)	89,935	258,933
Total Compensation and Benefits	104,589	98,585	433,738	621,373
Interest expense	7,529	7,389	22,454	15,027
General, administrative and other	21,645	23,652	65,972	73,621
Professional fees	17,218	17,936	51,907	57,599
Occupancy	10,137	9,916	30,226	30,237
Placement fees	2,617	8,760	5,802	14,035
Depreciation and amortization	11,176	11,150	33,347	33,984
Total Expenses	174,911	177,388	643,446	845,876
Other Income (Loss):
Net gains from investment activities	80,950	12	107,492	213,886
Net gains (losses) from investment activities of consolidated variable interest entities	911	(98,848)	8,039	(7,688)
Income from equity method investments	2,021	4,445	18,079	58,056
Interest income	818	2,243	2,403	8,297
Other income, net	93	10,013	6,742	29,782
Total Other Income (Loss)	84,793	(82,135)	142,755	302,333
Income (loss) before income tax provision	103,150	(38,388)	347,328	741,144
Income tax provision	(6,591)	(29,376)	(21,197)	(96,962)
Net Income (Loss)	96,559	(67,764)	326,131	644,182
Net (income) loss attributable to Non-controlling Interests	(55,508)	69,974	(197,725)	(498,135)
Net Income Attributable to Apollo Global Management, LLC	$ 41,051	$ 2,210	$ 128,406	$ 146,047
Distributions Declared per Class A Share (USD per share)	$ 0.42	$ 0.46	$ 1.61	$ 2.38
Net Income (Loss) Per Class A Share:
Net Income Per Class A Share - Basic (USD per share)	0.20	(0.05)	0.60	0.58
Net Income Per Class A Share - Diluted (USD per share)	$ 0.20	$ (0.05)	$ 0.60	$ 0.58
Weighted Average Number of Class A Shares - Basic (in shares)	176,169,986	158,466,602	170,879,302	153,071,007
Weighted Average Number of Class A Shares - Diluted (in shares)	176,169,986	158,466,602	170,879,302	153,071,007

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 96,559	$ (67,764)	$ 326,131	$ 644,182
Other Comprehensive Income (Loss), net of tax:
Allocation of currency translation adjustment of consolidated CLOs and funds (net of taxes of $0.1 million and $0.0 million for Apollo Global Management, LLC for the three months ended September 30, 2015 and 2014, respectively and $0.7 million and $0.0 million for Apollo Global Management, LLC for the nine months ended September 30, 2015 and 2014, respectively, and $0.0 million for Non-Controlling interests in Apollo Operating Group for both three and nine months ended September 30, 2015 and 2014)	386	0	(10,505)	0
Net gain (loss) from change in fair value of cash flow hedge instruments	26	27	78	(1,016)
Net gain (loss) on available-for-sale securities	(572)	1	(786)	(3)
Total Other Comprehensive Income (Loss), net of tax	(160)	28	(11,213)	(1,019)
Comprehensive Income (Loss)	96,399	(67,736)	314,918	643,163
Comprehensive Income attributable to Non-Controlling Interests	(58,241)	(61,937)	(192,153)	(570,755)
Comprehensive Income (Loss) Attributable to Apollo Global Management, LLC	$ 38,158	$ (129,673)	$ 122,765	$ 72,408

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Parenthetical - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
OCI, Foreign Currency Translation Gain (Loss), Tax	$ 0.1	$ 0	$ 0.7	$ 0
OCI, Noncontrolling Interest, Foreign Currency Translation Gain (Loss), Tax	$ 0	$ 0	$ 0	$ 0

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Additional Paid in Capital	Accumulated Deficit	Appropriated Partners' Capital	Accumulated Other Comprehensive (Loss) Income	Apollo Global Management, LLC	Non-Controlling Interests in Consolidated Entities	Non-Controlling Interests in Apollo Operating Group	Common Class A Shares	Common Class A SharesCommon Stock	Common Class B SharesCommon Stock
Balance, Beginning of Period at Dec. 31, 2013	$ 6,688,722	$ 2,624,582	$ (1,568,487)	$ 1,581,079	$ 95	$ 2,637,269	$ 2,669,730	$ 1,381,723
Balance, Beginning of Period (in shares) at Dec. 31, 2013										146,280,784	1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dilution impact of issuance of Class A shares	4,016	4,016				4,016
Capital increase related to equity-based compensation	88,312	88,312				88,312
Capital contributions	837,158			135,356		135,356	701,802
Distributions	(2,120,522)	(421,022)		(580,430)		(1,001,452)	(490,500)	(628,570)
Distributions related to deliveries of Class A shares for RSUs	16,372	16,806	(434)			16,372
Class A shares delivered									7,457,755	7,457,755
Purchase of AAA shares	(312)						(312)
Net transfers of AAA ownership interest to (from) Non-Controlling Interests in consolidated entities		(3,423)				(3,423)	3,423
Satisfaction of liability related to AAA RDUs	1,183	1,183				1,183
Exchange of AOG units for class A shares (shares)										6,218,121
Exchange of AOG units for class A shares	10,818	45,173				45,173		(34,355)
Net income	644,182		146,047	(73,226)		72,821	221,312	350,049
Allocation of currency translation adjustment of consolidated CLOs and fund entities	0
Change in cash flow hedge instruments	(1,016)				(410)	(410)		(606)
Net loss on available-for-sale securities (from equity method investment)	(3)				(3)	(3)
Balance, End of Period at Sep. 30, 2014	6,168,910	2,355,627	(1,422,874)	1,062,779	(318)	1,995,214	3,105,455	1,068,241
Balance, End of Period (in shares) at Sep. 30, 2014										159,956,660	1
Balance, Beginning of Period at Dec. 31, 2014	5,943,461	2,254,283	(1,400,661)	933,166	(306)	1,786,482	3,222,195	934,784
Balance, Beginning of Period (in shares) at Dec. 31, 2014										163,046,554	1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dilution impact of issuance of Class A shares	1,862	1,862				1,862
Capital increase related to equity-based compensation	49,952	49,952				49,952
Capital contributions	5,671						5,671
Distributions	(695,194)	(301,368)				(301,368)	(16,163)	(377,663)
Distributions related to deliveries of Class A shares for RSUs	(48,098)	4,921	(53,019)			(48,098)
Class A shares delivered									9,253,602	9,478,427
Exchange of AOG units for class A shares (shares)										6,483,121
Exchange of AOG units for class A shares	16,114	39,260				39,260		(23,146)
Net income	326,131		128,406	0		128,406	11,218	186,507
Allocation of currency translation adjustment of consolidated CLOs and fund entities	10,505				4,889	4,889	5,616
Change in cash flow hedge instruments	78				34	34		44
Net loss on available-for-sale securities (from equity method investment)	(786)				(786)	(786)
Balance, End of Period at Sep. 30, 2015	$ 1,519,423	$ 2,050,681	$ (1,328,624)	$ 0	$ (5,947)	$ 716,110	$ 82,787	$ 720,526
Balance, End of Period (in shares) at Sep. 30, 2015										179,008,102	1

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash Flows from Operating Activities:
Net Income (Loss)	$ 326,131	$ 644,182
Adjustments to reconcile net income to net cash provided by operating activities:
Equity-based compensation	73,786	101,676
Non-cash management fees	(22,119)	(12,839)
Depreciation and amortization	33,347	33,984
Unrealized gains from investment activities	(108,252)	(21,726)
Cash distributions of earnings from equity method investments	24,617	50,432
Income from equity method investments	(18,079)	(58,056)
Excess tax benefits from share-based payment arrangements	0	(16,806)
Deferred taxes, net	17,277	27,002
Other non-cash amounts included in net income, net	(22,260)	(8,165)
Changes in assets and liabilities:
Carried interest receivable	258,317	854,801
Due from affiliates	(18,481)	(171,404)
Other assets	2,767	(28,729)
Accounts payable and accrued expenses	15,506	54,727
Accrued compensation and benefits	71,790	76,976
Deferred revenue	4,092	36,698
Due to affiliates	(9,285)	(70,392)
Profit sharing payable	(53,671)	(205,432)
Other liabilities	(10,553)	4,665
Apollo Funds related:
Net realized gains from investment activities	(4,658)	(38,214)
Net unrealized gains from investment activities	(4,061)	(42,706)
Net realized gains on debt	0	(101,745)
Net unrealized (gains) losses on debt	(2,798)	77,445
Change in cash held at consolidated variable interest entities	284,890	193,260
Purchases of investments	(388,616)	(8,734,742)
Proceeds from sale of investments and liquidating distributions	264,522	6,985,826
Change in other assets	(11,490)	(287,602)
Change in other liabilities	(136,959)	368,772
Net Cash Provided by (Used in) Operating Activities	565,760	(288,112)
Cash Flows from Investing Activities:
Purchases of fixed assets	(5,015)	(4,333)
Proceeds from disposals of fixed assets	0	115
Proceeds from sale of investments	0	50,000
Purchase of investments	(25,000)	0
Cash contributions to equity method investments	(136,421)	(88,114)
Cash distributions from equity method investments	38,855	48,008
Change in restricted cash	922	1,679
Issuance of employee loans	(25,016)	0
Other investing activities	1,260	0
Net Cash (Used in) Provided by Investing Activities	(150,415)	7,355
Cash Flows from Financing Activities:
Principal repayments of debt	0	(250,000)
Issuance of debt	0	515,926
Issuance costs	0	(5,478)
Net loss related to cash flow hedge instruments	0	(1,051)
Satisfaction of tax receivable agreement	(48,420)	(32,032)
Satisfaction of contingent obligations	(12,746)	(30,731)
Purchases of equity securities	(3,050)	0
Distributions related to deliveries of Class A shares for RSUs	(53,019)	(434)
Distributions paid to Non-Controlling Interests in consolidated entities	(9,369)	(12,257)
Contributions from Non-Controlling Interests in consolidated entities	147	2,074
Distributions paid	(275,850)	(380,497)
Distributions paid to Non-Controlling Interests in Apollo Operating Group	(377,663)	(628,570)
Excess tax benefits from share-based payment arrangements	0	16,806
Apollo Funds related:
Issuance of debt	0	3,704,898
Principal repayment of debt	0	(2,035,653)
Purchase of AAA units	0	(312)
Distributions paid	0	(570,673)
Distributions paid to Non-Controlling Interests in consolidated variable interest entities	(6,794)	(332,784)
Contributions from Non-Controlling Interests in consolidated variable interest entities	5,524	654,971
Net Cash (Used in) Provided by Financing Activities	(781,240)	614,203
Net (Decrease) Increase in Cash and Cash Equivalents	(365,895)	333,446
Cash and Cash Equivalents, Beginning of Period	1,205,663	1,079,537
Cash and Cash Equivalents, End of Period	839,768	1,412,983
Supplemental Disclosure of Cash Flow Information:
Interest paid	19,189	9,539
Interest paid by consolidated variable interest entities	15,007	118,929
Income taxes paid	6,354	37,006
Supplemental Disclosure of Non-Cash Investing Activities:
Non-cash contributions to equity method investments	35,074	0
Non-cash distributions from equity method investments	(5,909)	(7,243)
Supplemental Disclosure of Non-Cash Financing Activities:
Declared and unpaid distributions	(25,518)	(40,525)
Non-cash distributions from Non-Controlling Interests in consolidated entities from Appropriated Partners’ Capital	0	(135,357)
Non-cash contributions from Non-Controlling Interests in consolidated entities from Appropriated Partners’ Capital	0	9,757
Capital increases related to equity-based compensation	49,952	88,312
Other non-cash financing activities	1,832	5,196
Adjustments related to exchange of Apollo Operating Group units:
Deferred tax assets	60,648	58,696
Due to affiliates	(44,534)	(47,878)
Additional paid in capital	(16,114)	(10,818)
Non-Controlling Interest in Apollo Operating Group	23,146	34,355
Cash and cash equivalents	760,491	0
Investments, at fair value	16,930,227	0
Other Assets	280,428	0
Debt, at fair value	(13,229,570)	0
Other liabilities	(529,080)	0
Non-Controlling Interests in consolidated entities	(3,134,518)	0
Appropriated partners’ capital	$ (929,708)	$ 0

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	ORGANIZATION AND BASIS OF PRESENTATION Apollo Global Management, LLC (together with its consolidated subsidiaries, the “Company” or “Apollo”) is a global alternative investment manager whose predecessor was founded in 1990. Its primary business is to raise, invest and manage private equity, credit and real estate funds as well as strategic investment accounts (“SIAs”), on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. For these investment management services, Apollo receives management fees generally related to the amount of assets managed, transaction and advisory fees and carried interest income related to the performance of the respective funds that it manages. Apollo has three primary business segments: • Private equity —primarily invests in control equity and related debt instruments, convertible securities and distressed debt investments; • Credit —primarily invests in non-control corporate and structured debt instruments; and • Real estate —primarily invests in real estate equity for the acquisition and recapitalization of real estate assets, portfolios, platforms and operating companies, and real estate debt including first mortgage and mezzanine loans, preferred equity and commercial mortgage backed securities. Basis of Presentation The accompanying unaudited condensed consolidated financial statements are prepared in accordance with U.S. GAAP for interim financial information and instructions to the Quarterly Report on Form 10-Q . The condensed consolidated financial statements and these notes are unaudited and exclude some of the disclosures required in annual financial statements. Management believes it has made all necessary adjustments (consisting only of normal recurring items) so that the condensed consolidated financial statements are presented fairly and that estimates made in preparing its condensed consolidated financial statements are reasonable and prudent. The operating results presented for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the entire year. The condensed consolidated financial statements include the accounts of the Company, its wholly-owned or majority-owned subsidiaries, the consolidated entities which are considered to be variable interest entities (“VIEs”) and for which the Company is considered the primary beneficiary, and certain entities which are not considered VIEs but which the Company controls through a majority voting interest. Intercompany accounts and transactions have been eliminated upon consolidation. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements of the Company for the year ended December 31, 2014 included in the 2014 Annual Report. Certain reclassifications, when applicable, have been made to the prior period’s condensed consolidated financial statements and notes to conform to the current period’s presentation and are disclosed accordingly. Organization of the Company The Company was formed as a Delaware limited liability company on July 3, 2007 and completed a reorganization of its predecessor businesses on July 13, 2007 (the “2007 Reorganization”). The Company is managed and operated by its manager, AGM Management, LLC, which in turn is indirectly wholly-owned and controlled by Leon Black, Joshua Harris and Marc Rowan (the “Managing Partners”). As of September 30, 2015 , the Company owned, through four intermediate holding companies that include APO Corp., a Delaware corporation that is a domestic corporation for U.S. federal income tax purposes, APO Asset Co., LLC, a Delaware limited liability company that is a disregarded entity for U.S. federal income tax purposes, APO (FC), LLC, an Anguilla limited liability company that is treated as a corporation for U.S. federal income tax purposes and APO (FC II), LLC, an Anguilla limited liability company that is treated as a corporation for U.S. federal income tax purposes (collectively, the “Intermediate Holding Companies”), 45.3% of the economic interests of, and operated and controlled all of the businesses and affairs of, the Apollo Operating Group through its wholly-owned subsidiaries. AP Professional Holdings, L.P., a Cayman Islands exempted limited partnership (“Holdings”), is the entity through which the Managing Partners and certain of the Company’s other partners (the “Contributing Partners”) indirectly beneficially own interests in each of the partnerships that comprise the Apollo Operating Group (“AOG Units”). As of September 30, 2015 , Holdings owned the remaining 54.7% of the economic interests in the Apollo Operating Group. The Company consolidates the financial results of the Apollo Operating Group and its consolidated subsidiaries. Holdings’ ownership interest in the Apollo Operating Group is reflected as a Non-Controlling Interest in the accompanying condensed consolidated financial statements. Pursuant to an exchange agreement between Apollo, Holdings and the other parties thereto (as amended, the “Exchange Agreement”), the holders of the AOG Units (and certain permitted transferees thereof) may, upon notice and subject to the applicable vesting and minimum retained ownership requirements, transfer restrictions and other terms of the Exchange Agreement, exchange their AOG Units for the Company’s Class A shares on a one-for-one basis a limited number of times each year, subject to customary conversion rate adjustments for splits, distributions and reclassifications. Pursuant to the Exchange Agreement, a holder of AOG Units must simultaneously exchange one partnership unit in each of the Apollo Operating Group partnerships to effectuate an exchange for one Class A share. As a holder exchanges its AOG Units, the Company’s indirect interest in the Apollo Operating Group is correspondingly increased.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation —The types of entities with which Apollo is involved generally include subsidiaries (e.g., general partners and management companies related to the funds the Company manages), entities that have all the attributes of an investment company (e.g., funds) and securitization vehicles (e.g., collateralized loan obligations). Each of these entities is assessed for consolidation on a case by case basis depending on the specific facts and circumstances surrounding that entity. In February 2015, the Financial Accounting Standards Board (“FASB”) issued new consolidation guidance which changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The guidance is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period, and adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The Company has elected to adopt this new guidance using the modified retrospective method, which results in an effective date of adoption of January 1, 2015. Restatement of prior period results is not required. Amounts presented for the three and nine months ended September 30, 2015 in the condensed consolidated statements of operations have reflected the adoption of this accounting guidance as of January 1, 2015. Pursuant to the new consolidation guidance, the Company first evaluates whether it holds a variable interest in an entity. Fees that are customary and commensurate with the level of services provided, and where the Company doesn’t hold other economic interests in the entity that would absorb more than an insignificant amount of the expected losses or returns of the entity, would not be considered a variable interest. Apollo factors in all economic interests including proportionate interests through related parties, to determine if fees are considered a variable interest. As Apollo’s interests in many of these entities are solely through carried interests, performance fees, and/or insignificant indirect interests through related parties, Apollo is not considered to have a variable interest in many of these entities under the new guidance and no further consolidation analysis is performed. Prior to adoption of the new consolidation guidance, fees received by the Company for investment management services (e.g. carried interests and performance fees) were considered variable interests. For the remaining entities where the Company has determined that it does hold a variable interest, the Company performs an assessment to determine whether each of those entities qualify as a variable interest entity (“VIE”). An entity is considered a VIE if any one of the following conditions exist: (a) the total equity investment at risk is not sufficient to permit the legal entity to finance its activities without additional subordinated financial support, (b) the holders of equity investment at risk (as a group) lack either the direct or indirect ability through voting rights or similar rights to make decisions about a legal entity’s activities that have a significant effect on the success of the legal entity or the obligation to absorb the expected losses or right to receive the expected residual returns, or (c) the voting rights of some investors are disproportionate to their obligation to absorb the expected losses of the legal entity, their rights to receive the expected residual returns of the legal entity, or both and substantially all of the legal entity’s activities either involve or are conducted on behalf of an investor with disproportionately few voting rights. Under the new guidance, for limited partnerships and other similar entities, unaffiliated investors must be granted rights to either dissolve the fund or remove the general partner (“kick-out rights”) in order to not qualify as a VIE under condition (b) above. Entities that do not qualify as VIEs are generally assessed for consolidation as voting interest entities (“VOEs”) under the voting interest model. Under the voting interest model, Apollo consolidates those entities it controls through a majority voting interest. Apollo does not consolidate those VOEs in which substantive kick-out rights have been granted to the unaffiliated investors to either dissolve the fund or remove the general partner. As previously indicated, the consolidation assessment, including the determination as to whether an entity qualifies as a VIE depends on the facts and circumstances surrounding each entity and therefore certain of Apollo’s funds may qualify as VIEs whereas others may qualify as VOEs. The granting of substantive kick-out rights is a key consideration in determining whether a limited partnership or similar entity is a VIE and whether or not that entity should be consolidated. For example, when the unaffiliated holders of equity investment at risk of a fund (assumed to be limited partnerships or similar entities) with sufficient equity to permit the fund to finance its activities without additional subordinated financial support are not granted substantive kick-out rights the fund is determined to be a VIE. Alternatively, when the unaffiliated holders of equity investment at risk are granted substantive kick-out rights, the fund is generally determined to be a VOE. Prior to adoption of the new guidance, in certain cases where the Company held a substantive equity investment at risk in the fund, the fund may be determined to be a VOE even though substantive kick-out rights were not granted to the unaffiliated holders of equity investment at risk. Under the new guidance for limited partnerships or similar entities, unaffiliated investors must have kick-out rights to be considered a VOE. If the entity is determined to be a VIE under the conditions above, the Company assesses whether the entity should be consolidated by determining if Apollo is the primary beneficiary of the entity. Prior to adoption of the new consolidation guidance, this analysis differed depending on the type of VIE being assessed and which consolidation model was applied. For VIEs that qualified for the deferral of the then amended consolidation rules (i.e. investment company entities), it was determined that Apollo was determined to be the primary beneficiary when its interests, through holding interests directly or indirectly in the VIE or contractually through other variable interests (e.g., carried interest and performance fees), would be expected to absorb a majority of the VIE’s expected losses, receive a majority of the VIE’s expected residual returns, or both. In cases where two or more Apollo related parties held a variable interest in a VIE, and the aggregate variable interest held by those parties would, if held by a single party, identify that party as the primary beneficiary, then the Company was determined to be the primary beneficiary to the extent it was the party within the related party group that was most closely associated with the VIE. For VIEs that did not qualify for the deferral, such as Apollo’s CLOs which applied the then amended consolidation rules, the Company was determined to be the primary beneficiary if it held a controlling financial interest defined as possessing both (a) the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and (b) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. Under the new guidance, for all VIEs including investment company entities that previously met the deferral requirements, the Company is only determined to be the Primary Beneficiary when it has a controlling financial interest as defined above. Prior to adoption of the new guidance, when Apollo alone was not considered to have a controlling financial interest but Apollo and its related parties on an aggregate basis did have a controlling financial interest, an analysis regarding which party was most closely associated with the VIE was performed. Under the new guidance, determining which party is more closely associated with an entity is only performed when the related party group that has a controlling financial interest, shares power or is under common control. When the related party group holding a controlling financial interest is not under common control, then Apollo would only be deemed to be the primary beneficiary if substantially all the activities of the entity are performed on behalf of Apollo. Apollo continues to determine whether it is the primary beneficiary of a VIE at the time it becomes initially involved with the VIE and reconsiders that conclusion continuously. Investments and redemptions (either by Apollo, affiliates of Apollo or third parties) or amendments to the governing documents of the respective entity may affect an entity’s status as a VIE or the determination of the primary beneficiary. The assessment of whether an entity is a VIE and the determination of whether Apollo should consolidate such VIE requires judgments. Under both the previous and the new guidance, those judgments include, but are not limited to: (i) determining whether the total equity investment at risk is sufficient to permit the entity to finance its activities without additional subordinated financial support, (ii) evaluating whether the holders of equity investment at risk, as a group, can make decisions that have a significant effect on the success of the entity, (iii) determining whether the equity investors have proportionate voting rights to their obligations to absorb losses or rights to receive the expected residual returns from an entity, and (iv) evaluating the nature of the relationship and activities of the parties involved in determining which party within a related-party group (only for those related parties with shared power or under common control under the new guidance) is most closely associated with the VIE. Judgments are also made in determining whether a member in the equity group has a controlling financial interest including power to direct activities that most significantly impact the VIEs’ economic performance and rights to receive benefits or obligations to absorb losses that could be potentially significant to the VIE. This analysis includes interests through related parties. Prior to adoption, where the VIEs had qualified for the deferral, judgments were made in estimating cash flows to evaluate which member within the equity group absorbed a majority of the expected losses or residual returns of the VIE. Assets and liabilities of the consolidated VIEs are shown in separate sections within the condensed consolidated statements of financial condition as of September 30, 2015 and December 31, 2014 . For additional disclosures regarding VIEs, see note 4 . Intercompany transactions and balances, if any, have been eliminated in consolidation. Equity Method Investments —For investments in entities over which the Company exercises significant influence but which do not meet the requirements for consolidation, the Company uses the equity method of accounting, whereby the Company records its share of the underlying income or loss of such entities. The carrying amounts of equity method investments are reflected in investments in the condensed consolidated statements of financial condition. As the underlying entities that the Company manages and invests in are, for U.S. GAAP purposes, primarily investment companies which reflect their investments at estimated fair value, the carrying value of the Company’s equity method investments in such entities approximates fair value. Non-Controlling Interests —For entities that are consolidated, but not 100% owned, a portion of the income or loss and corresponding equity is allocated to owners other than Apollo. The aggregate of the income or loss and corresponding equity that is not owned by the Company is included in Non-Controlling Interests in the condensed consolidated financial statements. As of September 30, 2015 , the Non-Controlling Interests relating to Apollo Global Management, LLC primarily include the ownership interest in the Apollo Operating Group held by the Managing Partners and Contributing Partners through their limited partner interests in Holdings and other ownership interests in consolidated entities. Non-Controlling Interests also include limited partner interests of Apollo managed funds in certain consolidated VIEs. Non-Controlling Interests are presented as a separate component of shareholders’ equity on the Company’s condensed consolidated statements of financial condition. The primary components of Non-Controlling Interests are separately presented in the Company’s condensed consolidated statements of changes in shareholders’ equity to clearly distinguish the interest in the Apollo Operating Group and other ownership interests in the consolidated entities. Net income (loss) includes the net income (loss) attributable to the holders of Non-Controlling Interests on the Company’s condensed consolidated statements of operations. Profits and losses are allocated to Non-Controlling Interests in proportion to their relative ownership interests regardless of their basis. Revenues —Revenues are reported in three separate categories that include (i) advisory and transaction fees from affiliates, net, which relate to the investments of the funds and may include individual monitoring agreements the Company has with the portfolio companies and debt investment vehicles of the private equity funds and credit funds; (ii) management fees from affiliates, which are based on committed capital, invested capital, net asset value, gross assets or as otherwise defined in the respective agreements; and (iii) carried interest income (loss) from affiliates, which is normally based on the performance of the funds subject to preferred return. Advisory and Transaction Fees from Affiliates, Net —Advisory and transaction fees, including directors’ fees, are recognized when the underlying services rendered are substantially completed in accordance with the terms of the transaction and advisory agreements. Additionally, during the normal course of business, the Company incurs certain costs related to certain transactions that are not consummated (“broken deal costs”). These costs (e.g., research costs, due diligence costs, professional fees, legal fees and other related items) are determined to be broken deal costs upon management’s decision to no longer pursue the transaction. In accordance with the related fund agreement, in the event the deal is deemed broken, all of the costs are reimbursed by the funds and then included as a component of the calculation of the Management Fee Offset described below. If a deal is successfully completed, Apollo is reimbursed by the fund or fund’s portfolio company for all costs incurred and no offset is generated. As the Company acts as an agent for the funds it manages, any transaction costs incurred and paid by the Company on behalf of the respective funds relating to successful or broken deals are presented net on the Company’s condensed consolidated statements of operations, and any receivable from the respective funds is presented in due from affiliates on the condensed consolidated statements of financial condition. Advisory and transaction fees from affiliates, net, also includes underwriting fees. Underwriting fees include gains, losses and fees, net of syndicate expenses, arising from securities offerings in which one of the Company’s subsidiaries participates in the underwriter syndicate. Underwriting fees are recognized at the time the underwriting is completed and the income is reasonably assured and are included in the condensed consolidated statements of operations. Underwriting fees recognized but not received are included in other assets on the condensed consolidated statements of financial condition. As a result of providing advisory services to certain private equity and credit portfolio companies, Apollo is generally entitled to receive fees for transactions related to the acquisition, in certain cases, and disposition of portfolio companies as well as ongoing monitoring of portfolio company operations and directors’ fees. The amounts due from portfolio companies are included in due from affiliates, which is discussed further in note 12 . Under the terms of the limited partnership agreements for certain funds, the management fee payable by the funds may be subject to a reduction based on a certain percentage of such advisory and transaction fees, net of applicable broken deal costs (“Management Fee Offset”). Advisory and transaction fees from affiliates are presented net of the Management Fee Offset in the condensed consolidated statements of operations. Management Fees from Affiliates —Management fees for private equity, credit, and real estate funds are recognized in the period during which the related services are performed in accordance with the contractual terms of the related agreement, and are generally based upon (1) a percentage of the capital committed during the commitment period, and thereafter based on the remaining invested capital of unrealized investments, or (2) net asset value, gross assets or as otherwise defined in the respective agreements. Carried Interest Income from Affiliates —Apollo is entitled to an incentive return that can normally amount to as much as 20% of the total returns on a fund’s capital, depending upon performance. Performance-based fees are assessed as a percentage of the investment performance of the funds. The carried interest income from affiliates for any period is based upon an assumed liquidation of the fund’s net assets on the reporting date, and distribution of the net proceeds in accordance with the fund’s income allocation provisions. Carried interest receivable is presented separately in the condensed consolidated statements of financial condition. The carried interest income from affiliates may be subject to reversal to the extent that the carried interest income recorded exceeds the amount due to the general partner based on a fund’s cumulative investment returns. When applicable, the accrual for potential repayment of previously received carried interest income, which is a component of due to affiliates, represents all amounts previously distributed to the general partner that would need to be repaid to the Apollo funds if these funds were to be liquidated based on the current fair value of the underlying funds’ investments as of the reporting date. The actual general partner obligation, however, would not become payable or realized until the end of a fund’s life. Deferred Revenue —Apollo earns management fees subject to the Management Fee Offset. When advisory and transaction fees are earned by the management company, the Management Fee Offset reduces the management fee obligation of the fund. When the management company receives cash for advisory and transaction fees, a certain percentage of such advisory and/or transaction fees, as applicable, is allocated as a credit to reduce future management fees, otherwise payable by such fund. Such credit is classified as deferred revenue in the condensed consolidated statements of financial condition. A portion of any excess advisory and transaction fees may be required to be returned to the limited partners of certain funds upon such fund’s liquidation. As the management fees earned by the management company are presented on a gross basis, any Management Fee Offsets calculated are presented as a reduction to Advisory and Transaction Fees from Affiliates in the condensed consolidated statements of operations. Additionally, Apollo earns advisory fees pursuant to the terms of the advisory agreements with certain of the portfolio companies that are owned by the funds. When Apollo receives a payment from a portfolio company that exceeds the advisory fees earned at that point in time, the excess payment is classified as deferred revenue in the condensed consolidated statements of financial condition. The advisory agreements with the portfolio companies vary in duration and the associated fees are received monthly, quarterly or annually. Deferred revenue is reversed and recognized as revenue over the period that the agreed upon services are performed. Under the terms of the funds’ partnership agreements, Apollo is normally required to bear organizational expenses over a set dollar amount and placement fees or costs in connection with the offering and sale of interests in the funds to investors. The placement fees are payable to placement agents, who are independent third parties that assist in identifying potential investors, securing commitments to invest from such potential investors, preparing or revising offering and marketing materials, developing strategies for attempting to secure investments by potential investors and/or providing feedback and insight regarding issues and concerns of potential investors, when a limited partner either commits or funds a commitment to a fund. In certain instances the placement fees are paid over a period of time. Based on the management agreements with the funds, Apollo considers placement fees and organizational costs paid in determining if cash has been received in excess of the management fees earned. Placement fees and organizational costs are normally the obligation of Apollo but can be paid for by the funds. When these costs are paid by the fund, the resulting obligations are included within deferred revenue. The deferred revenue balance will also be reduced during future periods when management fees are earned but not paid. Investments, at Fair Value —The Company follows U.S. GAAP attributable to fair value measurements which, among other things, requires enhanced disclosures about investments that are measured and reported at fair value. Investments, at fair value represent investments of the consolidated funds, investments of the consolidated VIEs and certain financial instruments for which the fair value option has been elected. The unrealized gains and losses resulting from changes in the fair value are reflected as net gains (losses) from investment activities and net gains (losses) from investment activities of the consolidated VIEs in the condensed consolidated statements of operations. In accordance with U.S. GAAP, investments measured and reported at fair value are classified and disclosed in one of the following categories: Level I —Quoted prices are available in active markets for identical investments as of the reporting date. The type of investments included in Level I include listed equities and listed derivatives. As required by U.S. GAAP, the Company does not adjust the quoted price for these investments, even in situations where the Company holds a large position and the sale of such position would likely deviate from the quoted price. Level II —Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. Investments that are generally included in this category include corporate bonds and loans, less liquid and restricted equity securities and certain over-the-counter derivatives where the fair value is based on observable inputs. These investments exhibit higher levels of liquid market observability as compared to Level III investments. The Company subjects broker quotes to various criteria in making the determination as to whether a particular investment would qualify for treatment as a Level II investment. These criteria include, but are not limited to, the number and quality of broker quotes, the standard deviation of obtained broker quotes, and the percentage deviation from independent pricing services. Level III —Pricing inputs are unobservable for the investment and includes situations where there is little observable market activity for the investment. The inputs into the determination of fair value may require significant management judgment or estimation. Investments that are included in this category generally include general and limited partner interests in corporate private equity and real estate funds, opportunistic credit funds, distressed debt and non-investment grade residual interests in securitizations and CDOs and CLOs where the fair value is based on observable inputs as well as unobservable inputs. When a security is valued based on broker quotes, the Company subjects those quotes to various criteria in making the determination as to whether a particular investment would qualify for treatment as a Level II or Level III investment. These criteria include, but are not limited to, the number and quality of the broker quotes, the standard deviations of the observed broker quotes, and the percentage deviation from independent pricing services. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the investment when the fair value is based on unobservable inputs. In cases where an investment or financial instrument that is measured and reported at fair value is transferred between levels of the fair value hierarchy, the Company accounts for the transfer as of the end of the reporting period. On a quarterly basis, Apollo utilizes valuation committees consisting of members from senior management, to review and approve the valuation results related to the investments of the funds it manages. For certain publicly traded vehicles, a review is performed by an independent board of directors. The Company also retains independent valuation firms to provide third-party valuation consulting services to Apollo, which consist of certain limited procedures that management identifies and requests them to perform. The limited procedures provided by the independent valuation firms assist management with validating their valuation results or determining fair value. The Company performs various back-testing procedures to validate their valuation approaches, including comparisons between expected and observed outcomes, forecast evaluations and variance analyses. However, because of the inherent uncertainty of valuation, those estimated values may differ significantly from the values that would have been used had a ready market for the investments existed, and the differences could be material. Private Equity Investments The value of liquid investments, where the primary market is an exchange (whether foreign or domestic) is determined using period end market prices. Such prices are generally based on the close price on the date of determination. Valuation approaches used to estimate the fair value of investments that are less liquid include the market approach and the income approach. The market approach provides an indication of fair value based on a comparison of the subject company to comparable publicly traded companies and transactions in the industry. The market approach is driven more by current market conditions, including actual trading levels of similar companies and, to the extent available, actual transaction data of similar companies. Judgment is required by management when assessing which companies are similar to the subject company being valued. Consideration may also be given to such factors as the Company’s historical and projected financial data, valuations given to comparable companies, the size and scope of the Company’s operations, the Company’s strengths, weaknesses, expectations relating to the market’s receptivity to an offering of the Company’s securities, applicable restrictions on transfer, industry and market information and assumptions, general economic and market conditions and other factors deemed relevant. The income approach provides an indication of fair value based on the present value of cash flows that a business or security is expected to generate in the future. The most widely used methodology in the income approach is a discounted cash flow method. Inherent in the discounted cash flow method are assumptions of expected results and a calculated discount rate. Credit Investments The majority of the investments in Apollo’s credit funds are valued based on quoted market prices and valuation models. Debt and equity securities that are not publicly traded or whose market prices are not readily available are valued at fair value utilizing recognized pricing services, market participants or other sources. When market quotations are not available, a model based approach is used to determine fair value. The credit funds also enter into foreign currency exchange contracts, total return swap contracts, credit default swap contracts, and other derivative contracts, which may include options, caps, collars and floors. Foreign currency exchange contracts are marked-to-market by recognizing the difference between the contract exchange rate and the current market rate as unrealized appreciation or depreciation. If securities are held at the end of this period, the changes in value are recorded in income as unrealized. Realized gains or losses are recognized when contracts are settled. Total return swap contracts and credit default swap contracts are recorded at fair value as an asset or liability with changes in fair value recorded as unrealized appreciation or depreciation. Realized gains or losses are recognized at the termination of the contract based on the difference between the close-out price of the total return or credit default swap contract and the original contract price. Forward contracts are valued based on market rates obtained from counterparties or prices obtained from recognized financial data service providers. When determining fair value pricing when no market value exists, the value attributed to an investment is based on the enterprise value at the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Valuation approaches used to estimate the fair value of illiquid credit investments also may use the income approach or market approach. The valuation approaches used consider, as applicable, market risks, credit risks, counterparty risks and foreign currency risks. Real Estate Investments The estimated fair value of commercial mortgage-backed securities (“CMBS”) in Apollo’s funds is determined by reference to market prices provided by certain dealers who make a market in these financial instruments. Broker quotes are only indicative of fair value and may not necessarily represent what the funds would receive in an actual trade for the applicable instrument. Additionally, the loans held-for-investment are stated at the principal amount outstanding, net of deferred loan fees and costs for certain investments. The Company evaluates its loans for possible impairment on a quarterly basis. For Apollo’s opportunistic and value added real estate funds, valuations of non-marketable underlying investments are determined using methods that include, but are not limited to (i) discounted cash flow estimates or comparable analysis prepared internally, (ii) third party appraisals or valuations by qualified real estate appraisers, and (iii) contractual sales value of investments/properties subject to bona fide purchase contracts. Methods (i) and (ii) also incorporate consideration of the use of the income, cost, or sales comparison approaches of estimating property values. Fair Value of Financial Instruments The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Except for the Company’s debt obligations (as described in note 9 ), Apollo’s financial instruments are recorded at fair value or at amounts whose carrying values approximate fair value. See “Investments, at Fair Value” above. While Apollo’s valuations of portfolio investments are based on assumptions that Apollo believes are reasonable under the circumstances, the actual rea

INVESTMENTS

INVESTMENTS	9 Months Ended
	Sep. 30, 2015
Schedule of Investments [Abstract]
INVESTMENTS	INVESTMENTS The following table represents Apollo’s investments: As of As of Investments, at fair value $ 547,397 $ 2,499,128 Equity method investments 550,222 380,878 Total Investments $ 1,097,619 $ 2,880,006 Investments, at Fair Value Investments, at fair value, consist of investments for which the fair value option has been elected and include the Company’s investment in Athene Holding, RCAP, investments held by the Company’s consolidated funds and other investments held by the Company. See note 5 for further discussion regarding investments, at fair value. Net Gains (Losses) from Investment Activities The following table presents the realized and net change in unrealized gains (losses) on investments, at fair value for the three and nine months ended September 30, 2015 and 2014 : For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Realized gains (losses) on sales of investments $ 33 $ (12,802 ) $ 187 $ (12,649 ) Net change in unrealized gains due to changes in fair values 80,917 12,814 107,305 226,535 Net Gains from Investment Activities $ 80,950 $ 12 $ 107,492 $ 213,886 Equity Method Investments Apollo’s equity method investments include its investments in Apollo private equity, credit and real estate funds, which are not consolidated, but in which the Company exerts significant influence. Apollo’s share of operating income generated by these investments is recorded within income from equity method investments in the condensed consolidated statements of operations. Equity method investments as of September 30, 2015 and December 31, 2014 consisted of the following: Equity Held as of September 30, 2015 % of Ownership December 31, 2014 % of Ownership Private Equity Funds: AP Alternative Assets, L.P. ("AAA") (6) $ 64,222 2.370 % $ — — % AAA Investments, L.P. (“AAA Investments”) 1,633 0.057 1,293 0.057 Apollo Investment Fund IV, L.P. (“Fund IV”) 8 0.030 8 0.022 Apollo Investment Fund V, L.P. (“Fund V”) 59 0.043 68 0.031 Apollo Investment Fund VI, L.P. (“Fund VI”) 2,571 0.119 6,173 0.114 Apollo Investment Fund VII, L.P. (“Fund VII”) 62,867 1.229 78,286 1.223 Apollo Investment Fund VIII, L.P. (“Fund VIII”) 86,715 2.205 33,099 2.241 Apollo Natural Resources Partners, L.P. (“ANRP I”) 6,470 0.830 5,608 0.807 Apollo Natural Resources Partners II, L.P. (“ANRP II”) 2,804 2.354 — — AION Capital Partners Limited (“AION”) 16,559 5.958 14,707 6.113 Apollo Asia Private Credit Fund, L.P. (“APC”) 48 0.044 47 0.044 VC Holdings, L.P. Series A (“Vantium A/B”) 15 6.450 12 6.450 VC Holdings, L.P. Series C (“Vantium C”) 63 2.071 48 2.071 VC Holdings, L.P. Series D (“Vantium D”) 170 6.345 180 6.345 Total Private Equity Funds (5) 244,204 139,529 Credit Funds: Apollo Special Opportunities Managed Account, L.P. (“SOMA”) 6,344 0.816 6,997 0.841 Apollo Value Strategic Fund, L.P. (“VIF”) 103 0.087 146 0.067 Apollo Strategic Value Fund, L.P. (“SVF”) 8 0.035 10 0.033 Apollo Credit Liquidity Fund, L.P. (“ACLF”) 2,124 3.810 4,128 2.771 Apollo Credit Opportunity Fund I, L.P. (“COF I”) 1,627 1.929 2,298 1.870 Apollo Credit Opportunity Fund II, L.P. (“COF II”) 1,957 1.502 2,249 1.497 Apollo Credit Opportunity Fund III, L.P. (“COF III”) 18,498 1.039 13,102 1.061 Apollo European Principal Finance Fund, L.P. (“EPF I”) 5,087 1.371 7,647 1.449 Apollo European Principal Finance Fund II, L.P. (“EPF II”) 43,788 1.760 44,523 1.760 Apollo Investment Europe II, L.P. (“AIE II”) 2,101 4.491 3,203 1.937 Apollo Europe Co-Investors III (D), LLC (“AIE III”) 2,952 2.914 1,540 2.914 Apollo Palmetto Strategic Partnership, L.P. (“Palmetto”) 15,066 1.186 14,049 1.186 Apollo Senior Floating Rate Fund Inc. (“AFT”) 81 0.034 86 0.031 Apollo Residential Mortgage, Inc. (“AMTG”) (3) 4,150 (1) 0.692 (1) 4,263 (2) 0.593 (2) Apollo European Credit, L.P. (“AEC”) 2,357 1.081 2,443 1.081 Apollo European Strategic Investments, L.P. (“AESI”) 2,356 0.990 3,834 0.990 Apollo European Strategic Investments II, L.P. (AESI II”) 818 0.990 123 0.990 Apollo Centre Street Partnership, L.P. (“ACSP”) 11,919 2.485 11,474 2.439 Apollo Investment Corporation (“AINV”) (4) 63,607 (1) 3.294 (1) 64,382 (2) 3.057 (2) Apollo SK Strategic Investments, L.P. (“SK”) 1,490 0.990 1,693 0.990 Apollo SPN Investments I, L.P. 5,515 0.536 5,500 0.720 CION Investment Corporation (“CION”) 1,000 0.120 1,000 0.206 Apollo Tactical Income Fund Inc. (“AIF”) 76 0.030 84 0.032 Apollo Franklin Partnership, L.P. (“Franklin Fund”) 8,757 9.091 9,647 9.091 Apollo Zeus Strategic Investments, L.P. (“Zeus”) 7,498 3.398 6,404 3.392 Apollo Lincoln Fixed Income Fund, L.P. 1,957 1.014 1,398 0.993 Apollo Lincoln Private Credit Fund, L.P. 275 0.994 194 0.990 Apollo Structured Credit Recovery Master Fund III, L.P. 1,880 0.293 315 0.126 Apollo Total Return Fund L.P. 163 0.039 163 0.046 Apollo Credit Short Opportunities Fund L.P. 20 0.016 19 0.027 MidCap FinCo Limited (“MidCap”) 50,223 5.421 — — Apollo Energy Opportunity Fund, L.P. (“AEOF”) 7,621 2.439 — — Apollo A-N Credit Fund, L.P. 4,445 1.970 — — Apollo Tactical Value SPN Investments, L.P. 4 0.006 — — Apollo Union Street Partners, L.P. 227 2.000 — — Total Credit Funds (5) 276,094 212,914 Real Estate: ARI (3) 14,046 (1) 1.199 (1) 13,989 (2) 1.495 (2) AGRE U.S. Real Estate Fund, L.P. 10,376 5.000 10,519 1.845 Apollo U.S. Real Estate Fund II, L.P. 1,303 1.960 — — CPI Capital Partners North America, L.P. 97 0.411 137 0.408 CPI Capital Partners Europe, L.P. 5 0.001 5 0.001 CPI Capital Partners Asia Pacific, L.P. 91 0.039 96 0.039 Apollo GSS Holding (Cayman), L.P. 3,546 4.750 3,564 4.750 BEA/AGRE China Real Estate Fund, L.P. 90 1.031 87 1.031 Apollo-IC, L.P. (Shanghai Village) 359 2.960 — — AGRE Cobb West Investor L.P. 11 0.407 — — Other — — 38 NM Total Real Estate Funds (5) 29,924 28,435 Total $ 550,222 $ 380,878 (1) Amounts are as of June 30, 2015. (2) Amounts are as of September 30, 2014. (3) Investment value includes the fair value of RSUs granted to the Company as of the grant date. These amounts are not considered in the percentage of ownership until the RSUs are vested and issued to the Company, at which point the RSUs are converted to common stock and delivered to the Company. (4) The value of the Company’s investment in AINV was $42,731 and $53,693 based on the quoted market price as of September 30, 2015 and December 31, 2014 , respectively. (5) Certain funds invest across multiple segments. The presentation in the table above is based on the classification of the majority of such funds’ investments. (6) AAA has been deconsolidated effective January 1, 2015 as a result of the Company’s adoption of new accounting guidance, as described in note 2 . As a result, the Company’s investment in AAA no longer eliminates in consolidation. For the nine months ended September 30, 2015, the Company’s equity method investment in Athene Holding for which the fair value option was elected, met the significance criteria as defined by the SEC. As such, the following table presents summarized income statement information for Athene Holding for the three and nine months ended September 30, 2015 and 2014: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 (1) 2014 2015 (1) 2014 in millions Income Statement Information Revenues $ 562 $ 841 $ 2,483 $ 2,941 Expenses 441 719 1,982 2,651 Income before income tax provision 121 122 501 290 Income tax provision (benefit) 19 (15 ) 46 17 Net income 102 137 455 273 Net income (loss) attributable to Non-controlling Interests 3 (1 ) 1 — Net income available to Athene common shareholders $ 99 $ 138 $ 454 $ 273 (1) Three and nine months ended September 30, 2015 data includes information from the three months and trailing nine months ended June 30, 2015, which represents the latest available financial information.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES As described in note 2 , the Company consolidates entities that are VIEs for which the Company has been designated as the primary beneficiary. The purpose of such VIEs is to provide strategy-specific investment opportunities for investors in exchange for management and performance based fees. The investment strategies of the entities that the Company manages may vary by entity; however, the fundamental risks of such entities have similar characteristics, including loss of invested capital and the return of carried interest income previously distributed to the Company by certain private equity, credit, and real estate entities. The nature of the Company’s involvement with VIEs includes direct and indirect investments and fee arrangements. The Company does not provide performance guarantees and has no other financial obligations to provide funding to VIEs other than its own capital commitments. There is no recourse to the Company for the consolidated VIEs’ liabilities. Consolidated Variable Interest Entities Apollo has consolidated VIEs in accordance with the policy described in note 2 . Through its role as investment manager of these VIEs, the Company determined that Apollo has the power to direct the activities that most significantly impact the economic performance of these VIEs. Additionally, Apollo determined that its interests, both directly and indirectly from these VIEs, represent rights to returns that could potentially be significant to such VIEs. As a result, Apollo determined that it is the primary beneficiary and therefore should consolidate the VIEs. Deconsolidation of CLOs CLOs are generally determined to be VIEs if they are formed solely to issue collateralized notes in the legal form of debt and therefore do not have sufficient total equity investment at risk to permit the entity to finance its activities without additional subordinated financial support. Prior to adoption of the new consolidation guidance, Apollo was considered to possess a controlling financial interest in, and therefore consolidated, such CLOs as Apollo’s role as collateral manager provided the Company with the power to direct the activities that most significantly impacted the CLO’s economic performance and the Company had the right to receive certain benefits from the CLO through incentive fees that could potentially be significant to the CLO. Under the new guidance, the majority of these CLOs have been deconsolidated as the incentive fees received by Apollo from the deconsolidated CLOs are not considered variable interests. Accordingly, the Company deconsolidated approximately $14.6 billion in assets and $13.7 billion in liabilities related to these entities reflected as of January 1, 2015. The net impact of the deconsolidation is reflected in the condensed consolidated statement of changes in shareholders’ equity for the nine months ended September 30, 2015 . As a result of the adoption, certain deconsolidation adjustments have been recorded to various line items on the condensed consolidated financial statements, including adjustments to remove the impact of intercompany eliminations. These adjustments impacted multiple line items within total revenues and other income, as well as net income attributable to Non-Controlling Interests on the condensed consolidated statements of operations, as well as multiple line items within the condensed consolidated statements of financial condition, including goodwill. Consolidated CLOs Certain CLOs remain consolidated by Apollo as the Company continues to be considered to hold a controlling financial interest through direct and indirect interests in these CLOs exclusive of management and performance based fees received. Through its role as collateral manager of these VIEs, the Company determined that Apollo had the power to direct the activities that most significantly impact the economic performance of these VIEs. These CLOs were formed for the sole purpose of issuing collateralized notes to investors. The assets of these VIEs are primarily comprised of senior secured loans and the liabilities are primarily comprised of debt. The assets of these consolidated CLOs are not available to creditors of the Company. In addition, the investors in these consolidated VIEs have no recourse against the assets of the Company. The Company has elected the fair value option for financial instruments held by its consolidated CLOs, which includes investments in loans and corporate bonds, as well as debt obligations and contingent obligations held by such consolidated CLOs. Other assets include amounts due from brokers and interest receivables. Other liabilities include payables for securities purchased, which represent open trades within the consolidated VIEs and primarily relate to corporate loans that are expected to settle within the next 60 days . From time to time, Apollo makes investments in certain consolidated CLOs denominated in foreign currencies. As of September 30, 2015 , the Company had invested $43.8 million in consolidated foreign currency denominated CLOs, which eliminates in consolidation. Pursuant to the terms of certain bank loan agreements, the consolidated VIEs have unfunded contingent liabilities of $0.2 million as of September 30, 2015 . Investment in Champ L.P. O n September 30, 2014, the Company, through a wholly-owned subsidiary, acquired a 25.6% ownership interest in Champ L.P. following which a wholly-owned subsidiary of Champ L.P. then acquired a 35% ownership interest in KBC Bank Deutschland AG (“KBC Bank”), the German subsidiary of Belgian KBC Group NV (the “KBC Transaction”). Following the closing of the transaction, KBC Bank was renamed Bremer Kreditbank AG and the bank began to operate under the name BKB Bank. As of September 30, 2015 , the Company had invested $18.2 million in Champ L.P. The Company, together with other affiliated investors, in aggregate, own 100% of Champ L.P. The Company, through its aforementioned wholly-owned subsidiary, is the general partner and primary beneficiary of Champ L.P., which meets the definition of a VIE. Accordingly, the Company has consolidated Champ L.P. in accordance with the policy described in note 2 . The Company’s investment in Champ L.P. is eliminated in consolidation. Net Gains (Losses) from Investment Activities of Consolidated Variable Interest Entities The following table presents net gains (losses) from investment activities of the consolidated VIEs for the three and nine months ended September 30, 2015 and 2014 , respectively: For the Three Months Ended For the Nine Months Ended 2015 2014 2015 2014 Net unrealized gains (losses) from investment activities $ (2,198 ) $ (171,640 ) $ 4,045 $ (162,102 ) Net realized gains from investment activities 640 21,170 4,471 37,992 Net gains (losses) from investment activities (1,558 ) (150,470 ) 8,516 (124,110 ) Net unrealized gains (losses) from debt 9,727 (70,917 ) 2,798 (77,445 ) Net realized gains from debt — 101,388 — 101,745 Net gains from debt 9,727 30,471 2,798 24,300 Interest and other income 9,994 163,747 28,042 481,883 Interest and other expenses (17,252 ) (142,596 ) (31,317 ) (389,761 ) Net gains (losses) from Investment Activities of Consolidated Variable Interest Entities $ 911 $ (98,848 ) $ 8,039 $ (7,688 ) Senior Secured Notes and Subordinated Note s—Included within debt are amounts due to third-party institutions by the consolidated VIEs. The following table summarizes the principal provisions of the debt of the consolidated VIEs as of September 30, 2015 and December 31, 2014 : As of As of Principal Outstanding Weighted Average Interest Rate Weighted Average Remaining Maturity in Years Principal Outstanding Weighted Average Interest Rate Weighted Average Remaining Maturity in Years Senior Secured Notes (2)(3) $ 757,405 2.20 % 12.3 $ 13,459,387 1.60 % 7.8 Subordinated Notes (2)(3) 84,785 N/A (1) 15.4 1,183,834 N/A (1) 9.0 Total $ 842,190 $ 14,643,221 (1) The subordinated notes do not have contractual interest rates, but instead receive distributions from the excess cash flows of the VIEs. (2) The fair value of Senior Secured Notes and Subordinated Notes as of September 30, 2015 and December 31, 2014 was $825.3 million and $14,123.1 million , respectively. (3) The debt at fair value of the consolidated VIEs is collateralized by assets of the consolidated VIEs and assets of one vehicle may not be used to satisfy the liabilities of another vehicle. As of September 30, 2015 and December 31, 2014 , the fair value of the consolidated VIE assets was $1,024.7 million and $17,070.8 million , respectively. This collateral consisted of cash and cash equivalents, investments, at fair value, and other assets. The consolidated VIEs’ debt obligations contain various customary loan covenants as described above. As of September 30, 2015 , the Company was not aware of any instances of non-compliance with any of these covenants. Variable Interest Entities Which are Not Consolidated The Company holds variable interests in certain VIEs which are not consolidated, as it has been determined that Apollo is not the primary beneficiary. The following tables present the carrying amounts of the assets and liabilities of the VIEs for which Apollo has concluded that it holds a significant variable interest, but that it is not the primary beneficiary as of September 30, 2015 and December 31, 2014 . In addition, the tables present the maximum exposure to losses relating to these VIEs. As noted earlier, as a result of the adoption of the FASB’s new consolidation guidance, the Company is no longer considered to have a variable interest in many of the entities that it manages where its sole interest in an entity is either through carried interest, performance fees or other indirect interests which are not considered to absorb more than an insignificant amount of expected losses or returns of the entity. As of Total Assets Total Liabilities Apollo Exposure Total $ 4,714,739 (1) $ 1,077,515 (2) $ 175,967 (3) (1) Consists of $152.9 million in cash, $4,530.4 million in investments and $31.4 million in receivables. (2) Represents $1,077.5 million in debt and other payables. (3) Represents Apollo’s direct equity method investment in those entities in which Apollo holds a significant variable interest. Additionally, cumulative carried interest income is subject to reversal in the event of future losses. The maximum amount of future reversal of carried interest income from all of Apollo’s funds, including those entities in which Apollo holds a significant variable interest, is $2,526.5 million as of September 30, 2015 as discussed in note 13 . As of Total Assets Total Liabilities Apollo Exposure Total $ 11,676,038 (1) $ 729,515 (2) $ 30,752 (3) (1) Consists of $794.5 million in cash, $10,456.0 million in investments and $425.6 million in receivables. (2) Represents $362.0 million in debt and other payables, $359.4 million in securities sold, not purchased, and $8.2 million in capital withdrawals payable. (3) Represents Apollo’s direct equity method investment in those entities in which Apollo holds a significant variable interest. Additionally, cumulative carried interest income is subject to reversal in the event of future losses. The maximum amount of future reversal of carried interest income from all of Apollo’s funds, including those entities in which Apollo holds a significant variable interest, was $2,892.8 million as of December 31, 2014 .

FAIR VALUE MEASUREMENTS OF FINA

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS	FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS The following tables summarize the valuation of the Company’s financial assets and liabilities for which the fair value option has been elected by the fair value hierarchy as of September 30, 2015 and December 31, 2014 , respectively: As of September 30, 2015 Level I (5) Level II (5) Level III Total Cost Investments at Fair Value Assets Investments, at fair value: Investments held by Apollo Senior Loan Fund $ — $ 22,565 $ 3,421 $ 25,986 $ 26,172 Other Investments — — 469 469 621 Investment in Athene Holding (1) — — 495,942 495,942 387,526 Investment in RCAP — — 25,000 25,000 25,000 Total investments at fair value — 22,565 524,832 547,397 439,319 Investments of VIEs, at fair value (3) — 815,644 128,306 943,950 Total Assets $ — $ 838,209 $ 653,138 $ 1,491,347 Liabilities Liabilities of VIEs, at fair value (3)(4) $ — $ 825,322 $ 11,746 $ 837,068 Contingent Consideration Obligations (2) — — 81,606 81,606 Total Liabilities $ — $ 825,322 $ 93,352 $ 918,674 As of December 31, 2014 Level I (5) Level II (5) Level III Total Cost of Investments Fair Value Assets Investments, at fair value: Investment in AAA Investments (6) $ — $ — $ 2,144,118 $ 2,144,118 $ 1,494,358 Investments held by Apollo Senior Loan Fund — 25,537 4,359 29,896 30,100 Other Investments — — 600 600 3,318 Investment in Athene Holding (1) — — 324,514 324,514 324,293 Total investments at fair value — 25,537 2,473,591 2,499,128 1,852,069 AAA/Athene Receivable (1) — — 61,292 61,292 Investments of VIEs, at fair value (3) 176 13,135,564 2,522,913 15,658,653 Total Assets $ 176 $ 13,161,101 $ 5,057,796 $ 18,219,073 Liabilities Liabilities of VIEs, at fair value (3)(4) $ — $ 1,793,353 $ 12,343,021 $ 14,136,374 Contingent Consideration Obligations (2) — — 96,126 96,126 Total Liabilities $ — $ 1,793,353 $ 12,439,147 $ 14,232,500 (1) See note 12 for further disclosure regarding the investment in Athene Holding and the AAA/Athene Receivable. (2) See note 13 for further disclosure regarding contingent consideration obligations. (3) See note 4 for further disclosure regarding VIEs. (4) As of September 30, 2015 , liabilities of VIEs, at fair value includes debt and other liabilities of $825.3 million and $11.7 million , respectively. As of December 31, 2014 , liabilities of VIEs, at fair value includes debt and other liabilities of $14,123.1 million and $13.3 million , respectively. Other liabilities include contingent obligations classified as Level III. (5) All Level I and Level II investments and liabilities were valued using third party pricing. (6) As of December 31, 2014, the financial instruments held by AAA represented 98.6% of net assets of consolidated funds (excluding VIEs). There were no transfers of financial assets into Level I for the three and nine months ended September 30, 2015 and 2014 . In addition, there were no transfers of financial liabilities between Level I and Level II for the three and nine months ended September 30, 2015 and 2014 . The following table summarizes the transfers of financial assets from Level I into Level II for positions that existed as of the three and nine months ended September 30, 2015 and 2014 , respectively: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Transfers from Level I into Level II $ — $ — $ — $ 4,084 Transfers were a result of subjecting the broker quotes on these investments to various criteria which include the number and quality of broker quotes, the standard deviation of obtained broker quotes and the percentage deviation from independent pricing services. The following tables summarize the changes in fair value in financial assets measured at fair value for which Level III inputs have been used to determine fair value for the three and nine months ended September 30, 2015 and 2014 , respectively: For the Three Months Ended September 30, 2015 Investments held by Apollo Senior Loan Fund Other Investments Investment in Athene Holding Investment in RCAP Investments of Consolidated VIEs Total Balance, Beginning of Period $ 2,003 $ 629 $ 414,726 $ — $ 132,079 $ 549,437 Purchases 1,945 3 — 25,000 4,562 31,510 Sales of investments/distributions (2,482 ) (54 ) — — (5,736 ) (8,272 ) Net realized gains 12 — — — 553 565 Changes in net unrealized gains (losses) 18 (109 ) 81,216 — 1,369 82,494 Cumulative translation adjustment — — — — 325 325 Transfer into Level III (1) 3,147 — — — 21,411 24,558 Transfer out of Level III (1) (1,222 ) — — — (26,257 ) (27,479 ) Balance, End of Period $ 3,421 $ 469 $ 495,942 $ 25,000 $ 128,306 $ 653,138 Change in net unrealized gains (losses) included in Net Gains (Losses) from Investment Activities related to investments still held at reporting date $ (315 ) $ (109 ) $ 81,216 $ — $ — $ 80,792 Change in net unrealized losses included in Net Gains (Losses) from Investment Activities of Consolidated VIEs related to investments still held at reporting date — — — — (78 ) (78 ) (1) Transfers between Level II and III were a result of subjecting the broker quotes on these financial assets to various criteria which include the number and quality of broker quotes, the standard deviation of obtained broker quotes and the percentage deviation from independent pricing services. For the Three Months Ended September 30, 2014 Investment in AAA Investments Investments held by Apollo Senior Loan Fund Other Investments Investment in Athene Holding AAA/Athene Receivable Investments of Consolidated VIEs Total Balance, Beginning of Period $ 2,146,979 $ 987 $ 51,172 $ 207,253 $ 55,836 $ 2,051,862 $ 4,514,089 Elimination of investments attributable to consolidation of VIEs — — — — — 17,762 17,762 Fees — — — — 57,979 — 57,979 Purchases — 1,726 124 — — 673,384 675,234 Sales of investments/distributions — (15 ) (50,000 ) — — (490,105 ) (540,120 ) Net realized gains (losses) — — (12,871 ) — — 12,707 (164 ) Changes in net unrealized gains 125 11 12,996 92 — 7,214 20,438 Transfer into Level III (1) — 377 — — — 315,852 316,229 Transfer out of Level III (1) — (321 ) — — — (393,092 ) (393,413 ) Settlement of derivatives (2) — — — 57,968 (57,968 ) — — Balance, End of Period $ 2,147,104 $ 2,765 $ 1,421 $ 265,313 $ 55,847 $ 2,195,584 $ 4,668,034 Change in net unrealized gains included in Net Gains from Investment Activities related to investments still held at reporting date $ 125 $ 11 $ 12,996 $ 92 $ — $ — $ 13,224 Change in net unrealized gains included in Net Gains from Investment Activities of Consolidated VIEs related to investments still held at reporting date — — — — — 18,277 18,277 (1) Transfers between Level II and III were a result of subjecting the broker quotes on these financial assets to various criteria which include the number and quality of broker quotes, the standard deviation of obtained broker quotes and the percentage deviation from independent pricing services. (2) See note 12 for further disclosure regarding the settlement of the Athene Services Derivative, the AAA Services Derivative and the investment in Athene Holding. For the Nine Months Ended September 30, 2015 Investment in AAA Investments Investments held by Apollo Senior Loan Fund Other Investments Investment in Athene Holding AAA/Athene Receivable Investment in RCAP Investments of Consolidated VIEs Total Balance, Beginning of Period $ 2,144,118 $ 4,359 $ 600 $ 324,514 $ 61,292 $ — $ 2,522,913 $ 5,057,796 Adoption of accounting guidance (2,144,118 ) — — — — — (2,399,130 ) (4,543,248 ) Fees — — — — 1,942 — — 1,942 Purchases — 4,424 272 — — 25,000 25,923 55,619 Sales of investments/distributions — (5,085 ) (101 ) — — — (15,359 ) (20,545 ) Net realized gains — 36 — — — — 3,300 3,336 Changes in net unrealized gains (losses) — (23 ) (302 ) 108,194 — — 1,915 109,784 Cumulative translation adjustment — — — — — — (9,519 ) (9,519 ) Transfer into Level III (1) — 4,951 — — — — 53,887 58,838 Transfer out of Level III (1) — (5,241 ) — — — — (55,624 ) (60,865 ) Settlement of receivable (2) — — — 63,234 (63,234 ) — — — Balance, End of Period $ — $ 3,421 $ 469 $ 495,942 $ — $ 25,000 $ 128,306 $ 653,138 Change in net unrealized gains (losses) included in Net Gains (Losses) from Investment Activities related to investments still held at reporting date $ — $ (353 ) $ (302 ) $ 108,194 $ — $ — $ — $ 107,539 Change in net unrealized gains included in Net Gains from Investment Activities of Consolidated VIEs related to investments still held at reporting date — — — — — — 2,262 2,262 (1) Transfers between Level II and III were a result of subjecting the broker quotes on these financial assets to various criteria which include the number and quality of broker quotes, the standard deviation of obtained broker quotes and the percentage deviation from independent pricing services. (2) See note 12 for further disclosure regarding the settlement of the AAA/Athene receivable and the investment in Athene Holding. For the Nine Months Ended September 30, 2014 Investment in AAA Investments Investments held by Apollo Senior Loan Fund Other Investments Athene and AAA Services Derivatives Investment in Athene Holding AAA/Athene Receivable Investments of Consolidated VIEs Total Balance, Beginning of Period $ 1,942,051 $ 892 $ 40,373 $ 130,709 $ — $ — $ 1,919,537 $ 4,033,562 Elimination of investments attributable to consolidation of VIEs — — — — — — 16,666 16,666 Fees — — — 60,422 — 113,815 — 174,237 Purchases — 3,716 1,849 — 2,083 — 988,308 995,956 Sales of investments/distributions — (1,524 ) (50,142 ) — — — (788,089 ) (839,755 ) Net realized gains (losses) — 10 (12,871 ) 24,242 — — (8,495 ) 2,886 Changes in net unrealized gains (losses) 205,053 47 22,212 (10,203 ) 92 — 33,826 251,027 Transfer into Level III (1) — 859 — — — — 897,616 898,475 Transfer out of Level III (1) — (1,235 ) — — — — (863,785 ) (865,020 ) Settlement of derivatives (2) — — — (205,170 ) 263,138 (57,968 ) — — Balance, End of Period $ 2,147,104 $ 2,765 $ 1,421 $ — $ 265,313 $ 55,847 $ 2,195,584 $ 4,668,034 Change in net unrealized gains included in Net Gains from Investment Activities related to investments still held at reporting date $ 205,053 $ 47 $ 22,212 $ — $ 92 $ — $ — $ 227,404 Change in net unrealized gains included in Net Gains from Investment Activities of Consolidated VIEs related to investments still held at reporting date — — — — — — 34,543 34,543 (1) Transfers between Level II and III were a result of subjecting the broker quotes on these financial assets to various criteria which include the number and quality of broker quotes, the standard deviation of obtained broker quotes and the percentage deviation from independent pricing services. (2) See note 12 for further disclosure regarding the settlement of the Athene Services Derivative, the AAA Services Derivative and the investment in Athene Holding. The following tables summarize the changes in fair value in financial liabilities measured at fair value for which Level III inputs have been used to determine fair value for the three and nine months ended September 30, 2015 and 2014 , respectively: For the Three Months Ended September 30, 2015 2014 Liabilities of Consolidated VIEs Contingent Consideration Obligations Total Liabilities of Consolidated VIEs Contingent Consideration Obligations Total Balance, Beginning of Period $ 11,714 $ 92,968 $ 104,682 $ 10,211,336 $ 115,220 $ 10,326,556 Elimination of debt attributable to consolidation of VIEs — — — (19,982 ) — (19,982 ) Additions — — — 2,573,593 — 2,573,593 Payments/Extinguishment (3) — (3,026 ) (3,026 ) (495,236 ) (19,043 ) (514,279 ) Net realized gains — — — (101,388 ) — (101,388 ) Changes in net unrealized (gains) losses (2) — (8,336 ) (8,336 ) 65,596 734 66,330 Cumulative translation adjustment 32 — 32 — — — Transfers into Level III (1) — — — 87,794 (1) — 87,794 Transfers out of Level III (1) — — — (33,418 ) (1) — (33,418 ) Balance, End of Period $ 11,746 $ 81,606 $ 93,352 $ 12,288,295 $ 96,911 $ 12,385,206 Change in net unrealized gains included in Net Gains from Investment Activities of consolidated VIEs related to liabilities still held at reporting date $ — $ — $ — $ (21,716 ) $ — $ (21,716 ) (1) Transfers between Level II and III were a result of subjecting the broker quotes on these financial liabilities to various criteria which include the number and quality of broker quotes, the standard deviation of obtained broker quotes and the percentage deviation from independent pricing services. (2) Change in fair value of contingent consideration obligations are recorded in profit sharing expense in the condensed consolidated statements of operations. (3) For the three months ended September 30, 2014 , includes a $13.4 million extinguishment of contingent consideration obligations, which is recorded in other income on the condensed consolidated statements of operations. For the Nine Months Ended September 30, 2015 2014 Liabilities of Consolidated VIEs Contingent Consideration Obligations Total Liabilities of Consolidated VIEs Contingent Consideration Obligations Total Balance, Beginning of Period $ 12,343,021 $ 96,126 $ 12,439,147 $ 9,994,147 $ 135,511 $ 10,129,658 Elimination of debt attributable to consolidation of VIEs — — — (13,258 ) — (13,258 ) Adoption of accounting guidance (11,433,815 ) — (11,433,815 ) — — — Additions — — — 3,469,560 — 3,469,560 Payments/Extinguishment (4) — (12,746 ) (12,746 ) (1,336,015 ) (44,126 ) (1,380,141 ) Net realized gains — — — (101,745 ) — (101,745 ) Changes in net unrealized (gains) losses (2) (8,244 ) (1,774 ) (10,018 ) 54,586 5,526 60,112 Cumulative translation adjustment (92,258 ) — (92,258 ) — — — Transfers into Level III — — — 461,865 (1) — 461,865 Transfers out of Level III (796,958 ) (3 ) — (796,958 ) (240,845 ) (1) — (240,845 ) Balance, End of Period $ 11,746 $ 81,606 $ 93,352 $ 12,288,295 $ 96,911 $ 12,385,206 Change in net unrealized gains included in Net Gains from Investment Activities of consolidated VIEs related to liabilities still held at reporting date $ — $ — $ — $ (66,139 ) $ — $ (66,139 ) (1) Transfers between Level II and III were a result of subjecting the broker quotes on these financial liabilities to various criteria which include the number and quality of broker quotes, the standard deviation of obtained broker quotes and the percentage deviation from independent pricing services. (2) Changes in fair value of contingent consideration obligations are recorded in profit sharing expense in the condensed consolidated statements of operations. (3) Upon adoption of new accounting guidance (see note 2), the debt obligations of consolidated CLOs are no longer categorized as Level III financial liabilities under the fair value hierarchy. Effective January 1, 2015, these financial liabilities are measured on the basis of the fair value of the financial assets of the consolidated CLOs and were categorized as Level II as of September 30, 2015. (4) For the nine months ended September 30, 2014 , includes a $13.4 million extinguishment of contingent consideration obligations, which is recorded in other income on the condensed consolidated statements of operations. The following tables summarize the quantitative inputs and assumptions used for financial assets and liabilities categorized as Level III under the fair value hierarchy as of September 30, 2015 and December 31, 2014 : As of September 30, 2015 Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted Average Financial Assets Investments of Consolidated Apollo Funds: Apollo Senior Loan Fund $ 3,421 Third Party Pricing (1) N/A N/A N/A Investments in Other 469 Other N/A N/A N/A Investment in RCAP 25,000 Other N/A N/A N/A Investment in Athene Holding 495,942 Book Value Multiple Book Value Multiple 1.20x 1.20x Investments of Consolidated VIEs: Bank Debt Term Loans 41,018 Third Party Pricing (1) N/A N/A N/A Corporate Loans/Bonds/CLO Notes 26,053 Third Party Pricing (1) N/A N/A N/A Equity Securities 54,513 Market Comparable Companies Comparable Multiples 0.53x 0.53x Discounted Cash Flow Discount Rate 15.1% 15.1% Other 6,722 Net Asset Value N/A N/A N/A Total Investments of Consolidated VIEs 128,306 Total Financial Assets $ 653,138 Financial Liabilities Liabilities of Consolidated VIEs: Contingent Obligation $ 11,746 Other N/A N/A N/A Contingent Consideration Obligation 81,606 Discounted Cash Flow Discount Rate 10.5% - 18.0% 16.3% Total Financial Liabilities $ 93,352 (1) These securities are valued primarily using broker quotes. As of December 31, 2014 Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted Average Financial Assets Investments of Consolidated Apollo Funds: AAA Investments (1) $ 2,144,118 Net Asset Value N/A N/A N/A Apollo Senior Loan Fund 4,359 Third Party Pricing (2) N/A N/A N/A Other Investments 600 Other N/A N/A N/A Investment in Athene Holding 324,514 Discounted Cash Flow Discount Rate 15.0% 15.0% AAA/Athene Receivable 61,292 Discounted Cash Flow Discount Rate 15.0% 15.0% Investments of Consolidated VIEs: Bank Debt Term Loans 1,340,296 Third Party Pricing (2) N/A N/A N/A 87,314 Discounted Cash Flow Discount Rate 7.1% - 14.0% 8.4% Corporate Loans/Bonds/CLO Notes (3) 1,009,873 Third Party Pricing (2) N/A N/A N/A Equity Securities 930 Third Party Pricing (2) N/A N/A N/A 4,610 Market Comparable Companies Comparable Multiples 5.8x 5.8x 58,923 Transaction Purchase Price N/A N/A 20,967 Transaction Implied Multiple 5.2x 5.2x Total Investments of Consolidated VIEs 2,522,913 Total Financial Assets $ 5,057,796 Financial Liabilities Liabilities of Consolidated VIEs: Subordinated Notes $ 908,831 Discounted Cash Flow Discount Rate 10.0% - 12.5% 11.5% Default Rate 1.0% - 2.0% 1.7% Recovery Rate 75.0% 75.0% Subordinated Notes 106,090 Other N/A N/A N/A Senior Secured Notes 9,283,534 Third Party Pricing (2) N/A N/A N/A Senior Secured and Subordinated Notes 2,031,292 Discounted Cash Flow Discount Rate 1.6% - 1.8% 1.7% Default Rate 2.0% 2.0% Recovery Rate 15.0% - 75.0% 69.0% Contingent Obligation 13,274 Other N/A N/A N/A Total Liabilities of Consolidated VIEs 12,343,021 Contingent Consideration Obligation 96,126 Discounted Cash Flow Discount Rate 11.0% - 18.5% 15.7% Total Financial Liabilities $ 12,439,147 (1) The net asset value of the underlying securities held by AAA Investments represents its sole investment in Athene, offset by other net liabilities. The investment in Athene was valued at $2,244.2 million as of December 31, 2014 using the embedded value method based on the present value of the future expected regulatory distributable income generated by the net assets of Athene plus the excess capital (i.e., the capital in excess of what is required to be held against Athene’s liabilities). The unobservable inputs and respective ranges used are the same as noted for the Investment in Athene Holding and the AAA/Athene Receivable in the table above. See note 12 for discussion of the investment in Athene Holding. (2) These securities are valued primarily using broker quotes. (3) Balance includes investments in an affiliated fund, which primarily invests in corporate loans, bonds, and CLO notes. Balance at December 31, 2014 includes investments in an affiliated fund in the amount of $865.9 million , which were valued based on NAV. Investment in Athene Holding and AAA/Athene Receivable The Company elected the fair value option for its investment in Athene Holding at the time of settlement of the Athene Services Derivative and AAA Services Derivative. The Company has classified this investment as a Level III asset in the fair value hierarchy, as the pricing inputs into the determination of fair value require significant judgment and estimation. The investment is valued based on the price of a common share of Athene Holding. As of September 30, 2015, the Company changed the valuation method used to value its investment in Athene Holding from the embedded value approach to the GAAP book value multiple approach. This change was driven by developments in Athene’s business as noted below. Athene’s business was principally built through a series of acquisitions of individual portfolios of fixed index annuities since its inception in 2009. As of and prior to June 30, 2015, in valuing Apollo’s investment in Athene Holding, the embedded value method was employed to determine the fair value of shares in Athene Holding in periods where there was not an observable market value. The embedded value methodology is widely used by market participants in the insurance industry in private company acquisitions of individual portfolios of annuities. The embedded value method estimates the present value of the future expected regulatory distributable income generated by the net assets plus the excess capital (i.e., the capital in excess of what is required to be held against liabilities) in determining fair value. Thus the embedded value method, as historically applied to the Athene valuation, was used to derive a value of Athene’s existing block of business as well as the value of undeployed capital equivalent to the excess capital held. As of June 30, 2015 and prior, Apollo also calculated an implied GAAP book value multiple for Athene, based on a projected GAAP book value, and compared that multiple to Athene’s publicly traded insurance peers as a secondary valuation point to assess the reasonableness of the valuation derived under the embedded value method. As of September 30, 2015, the fair value of Apollo’s investment in Athene Holding was estimated under the GAAP book value multiple approach by applying a book value multiple to the GAAP book value per share of Athene Holding. The conversion price for all Athene management incentive shares granted was added to Athene’s GAAP book value excluding accumulated other comprehensive income (“AOCI”) for purposes of determining GAAP book value per share. Apollo calculated a multiple for public company peers of Athene by dividing each peer’s market capitalization by its reported GAAP equity, excluding AOCI. A regression analysis was then prepared based on the calculated multiple of each peer relative to its expected return on GAAP equity, excluding AOCI, relative to Athene. From this analysis, a comparable book value multiple for Athene was derived and then appropriately discounted to factor in the projected time frame of an initial public offering (“IPO”) of Athene and subsequent liquidity of shares (taking into consideration any post-IPO lock-up restrictions on the shares). As a result of the above analysis, Apollo concluded it was appropriate to apply a multiple of 1.20 to Athene’s GAAP book value per share, in estimating the value per share of Athene Holding at September 30, 2015. The unrealized gain recorded during the three months ended September 30, 2015 was driven by quarterly activity as Athene has continued to evolve its business model and position itself for becoming a public company including, hiring a new President and CFO, investing in a broad-based marketing campaign for its retail product offering, launching a Funding Agreement Backed Note ("FABN") program, and diversifying into new businesses via the closing of the acquisition of Delta Lloyd Deutschland AG and its subsidiaries. Further, during the three months ended September 30, 2015, Athene published its 2014 audited GAAP financial statements and issued its unaudited GAAP financial statements for the six months ended June 30, 2015 (which facilitated the ability to use a book value multiple as a primary methodology). All of these activities are drivers of incremental value that occurred since the prior quarter. The embedded valuation methodology is well suited for valuing individual insurance portfolios, however, management believes the book value multiple methodology best reflects the fair value of Athene going forward given the evolution of Athene’s business since June 30, 2015. The GAAP book value multiple also serves as a common industry benchmark for Athene’s public insurance company peers. In addition, as a secondary valuation consideration, the Company performed analysis under other methodologies including price to earnings multiple and embedded value approaches which supported the reasonableness of the fair market value estimate by the book value multiple method. As of September 30, 2015 , the significant unobservable input used in the fair value measurement of the investment in Athene Holding is the GAAP book value multiple. This input in isolation can cause significant increases or decreases in fair value. Specifically, when the GAAP book value multiple method is used to determine fair value, the significant input used in the valuation model is the GAAP book value multiple itself. An increase in the GAAP book value multiple can significantly increase the fair value of an investment; conversely a decrease in the GAAP book value multiple can significantly decrease the fair value of an investment. The sensitivity of the valuation to changes in the multiple is directly proportional to the change in the multiple itself. As of December 31, 2014, the significant unobservable input used in the fair value measurement of the investment in Athene Holding was the discount rate applied in the valuation model. This input in isolation can cause significant increases or decreases in fair value. Specifically, when a discounted cash flow model is used to determine fair value, the significant input used in the valuation model is the discount rate applied to present value the projected cash flows. An increase in the discount rate can significantly lower the fair value of an investment; conversely a decrease in the discount rate can significantly increase the fair value of an investment. The discount rate is determined based on the expected required rate of return based on the risk profile of similar cash flows. Apollo Senior Loan Fund The Company is the sole investor in the Apollo Senior Loan Fund and therefore consolidates the assets and liabilities of the fund. The fund invests in U.S. denominated senior secured loans, senior secured bonds and other income generating fixed-income investments. Consolidated VIEs Investments The significant unobservable inputs used in the fair value measurement of the bank debt term loans and equity securities include the discount rate applied and the multiples applied in the valuation models. These unobservable inputs in isolation can cause significant increases or decreases in fair value. Specifically, when a discounted cash flow model is used to determine fair value, the significant input used in the valuation model is the discount rate applied to present value the projected cash flows. Increases in the discount rate can significantly lower the fair value of an investment; conversely decreases in the discount rate can significantly increase the fair value of an investment. The discount rate is determined based on the market rates an investor would expect for a similar investment with similar risks. When a comparable multiple model is used to determine fair value, the comparable multiples are generally multiplied by the underlying companies’ earnings before interest, taxes, depreciation and amortization (“EBITDA”) to establish the total enterprise value of the company. The comparable multiple is determined based on the implied trading multiple of public industry peers. Liabilities The significant unobservable inputs used in the fair value measurement of the subordinated and senior secured notes include the discount rate applied in the valuation models, default and recovery rates applied in the valuation models. These inputs in isolation can cause significant increases or decreases in fair value. Specifically, when a discounted cash flow model is used to determine fair value, the significant input used in the valuation model is the discount rate applied to present value the projected cash flows. Increases in the discount rate can significantly lower the fair value of subordinated and senior secured notes; conversely a decrease in the discount rate can significantly increase the fair value of subordinated and senior secured notes. The discount rate is determined based on the market rates an investor would expect for similar subordinated and senior secured notes with similar risks. As of September 30, 2015 , due to the adoption of new accounting guidance (see note 2), the debt obligations of the consolidated CLOs are measured on the basis of the fair value of the financial assets of the CLOs as the financial assets were determined to be more observable and, as a result, categorized as Level II in the fair value hierarchy. Contingent Consideration Obligations The significant unobservable input used in the fair value measurement of the contingent consideration obligations is the discount rate applied in the valuation models. This input in isolation can cause significant increases or decreases in fair value. Specifically, when a discounted cash flow model is used to determine fair value, the significant input used in the valuation model is the discount rate applied to present value the projected cash flows. Increases in the discount rate can significantly lower the fair value of the contingent consideration obligations; conversely a decrease in the discount rate can significantly increase the fair value of the contingent consideration obligations. The discount rate was based on the weighted average cost of capital for the Company. See note 13 for further discussion of the contingent consideration obligations.

CARRIED INTEREST RECEIVABLE

CARRIED INTEREST RECEIVABLE	9 Months Ended
	Sep. 30, 2015
Disclosure Carried Interest Receivable Balance [Abstract]
CARRIED INTEREST RECEIVABLE	CARRIED INTEREST RECEIVABLE Carried interest receivable from private equity, credit and real estate funds consisted of the following: As of As of Private Equity $ 421,133 $ 672,119 Credit 242,250 226,430 Real Estate 25,503 13,117 Total carried interest receivable $ 688,886 $ 911,666 The table below provides a roll-forward of the carried interest receivable balance for the nine months ended September 30, 2015 : Private Equity Credit Real Estate Total Carried interest receivable, January 1, 2015 $ 672,119 $ 226,430 $ 13,117 $ 911,666 Change in fair value of funds (1) 85,631 99,934 7,798 193,363 Fund distributions to the Company (336,617 ) (124,472 ) (2,448 ) (463,537 ) Adoption of new accounting guidance — 40,358 7,036 47,394 Carried interest receivable, September 30, 2015 $ 421,133 $ 242,250 $ 25,503 $ 688,886 (1) Included in unrealized carried interest income (loss) from affiliates for the nine months ended September 30, 2015 was a reversal of previously realized carried interest income due to the general partner obligation to return previously distributed carried interest income with respect to Fund V, APC, ANRP I, ACLF, COF II, and certain SIAs within the credit segment of $10.5 million , $0.7 million , $3.5 million , $19.7 million , $0.1 million and $28.8 million , respectively. The general partner obligation is recognized based upon a hypothetical liquidation of the fund’s net assets as of the reporting date. The actual determination and any required payment of any such general partner obligation would not take place until the final disposition of a fund’s investments based on the contractual termination of the fund or as otherwise set forth in the respective limited partnership agreement of the fund. The timing of the payment of carried interest due to the general partner or investment manager varies depending on the terms of the applicable fund agreements. Generally, carried interest with respect to the private equity funds and certain credit and real estate funds is payable and is distributed to the fund’s general partner upon realization of an investment if the fund’s cumulative returns are in excess of the preferred return. For most credit funds, carried interest is payable based on realizations after the end of the relevant fund’s fiscal year or fiscal quarter, subject to certain return thresholds, or “high water marks,” having been achieved.

PROFIT SHARING PAYABLE

PROFIT SHARING PAYABLE	9 Months Ended
	Sep. 30, 2015
Profit Sharing Payable [Abstract]
PROFIT SHARING PAYABLE	PROFIT SHARING PAYABLE Profit sharing payable from private equity, credit and real estate funds consisted of the following: As of As of Private Equity $ 179,462 $ 240,595 Credit 176,329 186,307 Real Estate 10,870 7,950 Total profit sharing payable $ 366,661 $ 434,852 The table below provides a roll-forward of the profit sharing payable balance for the nine months ended September 30, 2015 : Private Equity Credit Real Estate Total Profit sharing payable, January 1, 2015 $ 240,595 $ 186,307 $ 7,950 $ 434,852 Profit sharing expense (1)(2) 66,915 31,697 4,062 102,674 Payments/other (128,048 ) (41,675 ) (1,142 ) (170,865 ) Profit sharing payable, September 30, 2015 $ 179,462 $ 176,329 $ 10,870 $ 366,661 (1) Includes both of the following: (i) changes in amounts payable to employees and former employees entitled to a share of carried interest income in Apollo’s funds and (ii) changes to the fair value of the contingent consideration obligations (see notes 5 and 13 ) recognized in connection with certain Apollo acquisitions. (2) The Company has recorded a receivable from the Contributing Partners and certain employees and former employees for the potential return of profit sharing distributions that would be due if certain funds were liquidated as of September 30, 2015. See note 12 to the condensed consolidated financial statements.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company is treated as a partnership for income tax purposes and is therefore not subject to U.S. federal, state and local income taxes. APO Corp., a wholly-owned subsidiary of the Company, is subject to U.S. federal, state and local corporate income taxes. Certain other subsidiaries of the Company are subject to New York City Unincorporated Business Tax (“NYC UBT”) attributable to the Company’s operations apportioned to New York City. In addition, certain non-U.S. subsidiaries of the Company are subject to income taxes in their local jurisdictions. The Company’s provision for income taxes totaled $6.6 million and $29.4 million for the three months ended September 30, 2015 and 2014 , respectively, and $21.2 million and $97.0 million for the nine months ended September 30, 2015 and 2014 , respectively. The Company’s effective tax rate was approximately 6.4% and (76.5)% for the three months ended September 30, 2015 and 2014 , respectively, and 6.1% and 13.1% for the nine months ended September 30, 2015 and 2014 , respectively. Under U.S. GAAP, a tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits of the position. Based upon the Company’s review of its federal, state, local and foreign income tax returns and tax filing positions, the Company determined that no unrecognized tax benefits for uncertain tax positions were required to be recorded. In addition, the Company does not believe that it has any tax positions for which it is reasonably possible that it will be required to record significant amounts of unrecognized tax benefits within the next twelve months. The Company’s primary jurisdictions in which it operates are the United States, New York State, New York City, California and the United Kingdom. In the normal course of business, the Company is subject to examination by federal and certain state, local and foreign tax authorities. With a few exceptions, as of September 30, 2015 , the Company’s U.S. federal, state, local and foreign income tax returns for the years 2012 through 2015 are open under the general statute of limitations provisions and therefore subject to examination. Currently, the Internal Revenue Service is examining the tax return of a subsidiary for the 2012 tax year. The State and City of New York is examining certain subsidiaries’ tax returns for tax years 2011 and 2013, and the City of Los Angeles is examining certain subsidiaries’ tax returns for the years 2011 to 2013. Additionally, the Company completed the Internal Revenue Service examination of the tax return for 2011 for Apollo Global Management, LLC with no change. The Company has recorded a deferred tax asset for the future amortization of tax basis intangibles as a result of the 2007 Reorganization. The Company recognized an additional step-up in tax basis of intangibles as a result of subsequent exchanges of AOG Units for Class A shares in 2014 and 2015. As a result of these exchanges of AOG Units for Class A shares, there were increases in the deferred tax asset established from the 2007 Reorganization which were recorded in deferred tax assets in the condensed consolidated statements of financial condition for the expected tax benefit associated with these increases. A related tax receivable agreement liability was recorded in due to affiliates in the condensed consolidated statements of financial condition for the expected payments under the tax receivable agreement entered into by and among APO Corp., the Managing Partners, the Contributing Partners, and other parties thereto (as amended, the “tax receivable agreement”) (see note 12 ). The increases in the deferred tax asset less the related liability resulted in increases to additional paid-in capital which were recorded in the condensed consolidated statements of changes in shareholders’ equity for the nine months ended September 30, 2015 and 2014 . The amortization period for these tax basis intangibles is 15 years . Accordingly, the related deferred tax assets will reverse over the same period. The tables below present the transactions related to the exchange of AOG Units for Class A shares during the nine months ended September 30, 2015 and 2014 and the resulting impact to the deferred tax asset, tax receivable agreement liability and additional paid-in capital. For the Nine Months Ended September 30, 2015 Exchange of AOG Units for Class A shares Increase in Deferred Tax Asset Increase in Tax Receivable Agreement Liability Increase to Additional Paid In Capital For the Nine Months Ended September 30, 2015 $ 60,648 $ 44,534 $ 16,114 For the Nine Months Ended September 30, 2014 Exchange of AOG Units for Class A shares Increase in Deferred Tax Asset Increase in Tax Receivable Agreement Liability Increase to Additional Paid In Capital For the Nine Months Ended September 30, 2014 $ 58,696 $ 47,878 $ 10,818

DEBT

DEBT	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
DEBT	DEBT Debt consisted of the following: As of September 30, 2015 As of December 31, 2014 Outstanding Balance Annualized Weighted Average Interest Rate Outstanding Balance Annualized Weighted Average Interest Rate 2013 AMH Credit Facilities - Term Facility $ 500,000 1.40 % $ 500,000 1.36 % 2024 Senior Notes (1) 499,133 4.00 499,058 4.00 2014 AMI Term Facility I (2) 14,971 2.15 16,204 2.34 2014 AMI Term Facility II (3) 17,324 1.85 18,752 1.93 Total Debt $ 1,031,428 $ 1,034,014 (1) Includes impact of any amortization of note discount. (2) On July 3, 2014, Apollo Management International LLP (“AMI”), a subsidiary of the Company, entered into a €13.4 million five year credit agreement (the “2014 AMI Term Facility I”). Proceeds from the borrowing were used to fund the Company’s investment in a European CLO it manages. (3) On December 9, 2014, AMI entered into a €15.5 million five year credit agreement (the “2014 AMI Term Facility II”). Proceeds from the borrowing were used to fund the Company’s investment in a European CLO it manages. 2013 AMH Credit Facilities —On December 18, 2013, AMH and its subsidiaries and certain other subsidiaries of the Company (collectively, the “Borrowers”) entered into new credit facilities (the “2013 AMH Credit Facilities”) with JPMorgan Chase Bank, N.A. The 2013 AMH Credit Facilities provide for (i) a term loan facility to AMH (the “Term Facility”) that includes $750 million of the term loan from third-party lenders and $271.7 million of the term loan held by a subsidiary of the Company and (ii) a $500 million revolving credit facility (the “Revolver Facility”), in each case, with a final maturity date of January 18, 2019. Interest on the borrowings is based on an adjusted LIBOR rate or alternate base rate, in each case plus an applicable margin, and undrawn revolving commitments bear a commitment fee. Under the terms of the 2013 AMH Credit Facilities, the applicable margin ranges from 1.125% to 1.75% for LIBOR loans and 0.125% to 0.75% for alternate base rate loans, and the undrawn revolving commitment fee ranges from 0.125% to 0.25% , in each case depending on the Company’s corporate rating assigned by Standard & Poor’s Ratings Group, Inc. The 2013 AMH Credit Facilities do not require any scheduled amortization payments or other mandatory prepayments (except with respect to overadvances on the Revolver Facility) prior to the final maturity date, and the Borrowers may prepay the loans and/or terminate or reduce the revolving commitments under the 2013 AMH Credit Facilities at any time without penalty. In connection with the issuance of the 2024 Senior Notes (as defined below), $250 million of the proceeds were used to repay a portion of the Term Facility outstanding with third party lenders at par. The interest rate on the $500 million Term Facility as of September 30, 2015 was 1.46% and the commitment fee as of September 30, 2015 on the $500 million undrawn Revolver Facility was 0.125% . Interest expense incurred by the Company related to the 2013 AMH Credit Facilities was $2.0 million and $1.9 million for the three months ended September 30, 2015 and 2014 , respectively, and $5.8 million and $7.1 million for the nine months ended September 30, 2015 and 2014 , respectively. Debt issuance cost amortization expense related to the 2013 AMH Credit Facilities was $0.2 million and $0.2 million for the three months ended September 30, 2015 and 2014 , respectively, and $0.6 million and $0.8 million for the nine months ended September 30, 2015 and 2014 , respectively. The estimated fair value of the Company’s long-term debt obligation related to the 2013 AMH Credit Facilities is approximately $501.3 million based on obtained broker quotes as of September 30, 2015 . The $500.0 million carrying value of debt that is recorded on the condensed consolidated statements of financial condition at September 30, 2015 is the amount for which the Company expects to settle the 2013 AMH Credit Facilities. The Company has determined that the long-term debt obligation related to the 2013 AMH Credit Facilities would be categorized as a Level III liability in the fair value hierarchy based on the number and quality of broker quotes obtained, the standard deviations of the observed broker quotes and the percentage deviation from independent pricing services. The 2013 AMH Credit Facilities are guaranteed and collateralized by AMH and its subsidiaries, Apollo Management, L.P., Apollo Capital Management, L.P., Apollo International Management, L.P., AAA Holdings, L.P., Apollo Principal Holdings I, L.P., Apollo Principal Holdings II, L.P., Apollo Principal Holdings III, L.P., Apollo Principal Holdings IV, L.P., Apollo Principal Holdings V, L.P., Apollo Principal Holdings VI, L.P., Apollo Principal Holdings VII, L.P., Apollo Principal Holdings VIII, L.P., Apollo Principal Holdings IX L.P., Apollo Principal Holdings X L.P., ST Holdings GP, LLC and ST Management Holdings, LLC. The 2013 AMH Credit Facilities contain affirmative and negative covenants which limit the ability of the Borrowers, the guarantors and certain of their subsidiaries to, among other things, incur indebtedness and create liens. Additionally, the 2013 AMH Credit Facilities contain financial covenants which require the Borrowers and their subsidiaries to maintain (1) at least $40 billion of Fee-Generating Assets Under Management and (2) a maximum total net leverage ratio of not more than 4.00 to 1.00 (subject to customary equity cure rights). The 2013 AMH Credit Facilities also contain customary events of default, including events of default arising from non-payment, material misrepresentations, breaches of covenants, cross default to material indebtedness, bankruptcy and changes in control of the Company. Borrowings under the Revolver Facility may be used for working capital and general corporate purposes, including, without limitation, permitted acquisitions. In addition, the Borrowers may incur incremental facilities in respect of the Revolver Facility and the Term Facility in an aggregate amount not to exceed $500 million plus additional amounts so long as the Borrowers are in compliance with a net leverage ratio not to exceed 3.75 to 1.00 . As of September 30, 2015 and December 31, 2014 , the Revolver Facility was undrawn. 2024 Senior Notes —On May 30, 2014, AMH issued $500 million in aggregate principal amount of its 4.000% Senior Notes due 2024 (the “2024 Senior Notes”), at an issue price of 99.722 % of par. Interest on the 2024 Senior Notes is payable semi-annually in arrears on May 30 and November 30 of each year. The 2024 Senior Notes will mature on May 30, 2024. The discount will be amortized into interest expense on the condensed consolidated statements of operations over the term of the 2024 Senior Notes. Interest expense incurred by the Company related to the 2024 Senior Notes was $5.0 million and $5.0 million for the three months ended September 30, 2015 and 2014 , respectively, and $15.0 million and $6.7 million for the nine months ended September 30, 2015 and 2014 , respectively. The Company capitalized debt issuance costs of $5.5 million incurred in connection with the issuance of the 2024 Senior Notes, which was recorded in other assets in the condensed consolidated statements of financial condition as of September 30, 2015 , to be amortized over the term of the notes. Debt issuance cost amortization expense related to the issuance of the 2024 Senior Notes was $0.1 million and $0.1 million for the three months ended September 30, 2015 and 2014 , respectively, and $0.4 million and $0.2 million for the nine months ended September 30, 2015 and 2014 , respectively. The 2024 Senior Notes are guaranteed by Apollo Principal Holdings I, L.P., Apollo Principal Holdings II, L.P., Apollo Principal Holdings III, L.P., Apollo Principal Holdings IV, L.P., Apollo Principal Holdings V, L.P., Apollo Principal Holdings VI, L.P., Apollo Principal Holdings VII, L.P., Apollo Principal Holdings VIII, L.P., Apollo Principal Holdings IX, L.P., Apollo Principal Holdings X, L.P., AMH Holdings (Cayman), L.P. and any other entity that is required to become a guarantor of the notes under the terms of the indenture governing the 2024 Senior Notes (the “2024 Senior Notes Indenture”). The 2024 Senior Notes Indenture includes covenants that restrict the ability of AMH and, as applicable, the guarantors to incur indebtedness secured by liens on voting stock or profit participating equity interests of their respective subsidiaries or merge, consolidate or sell, transfer or lease assets. The 2024 Senior Notes Indenture also provides for customary events of default. The estimated fair value of the Company’s long-term debt obligation related to the 2024 Senior Notes is approximately $503.3 million based on obtained broker quotes as of September 30, 2015 . The face amount of $500.0 million related to the 2024 Senior Notes is the amount for which the Company is obligated to settle the 2024 Senior Notes. The Company has determined that the long-term debt obligation related to the 2024 Senior Notes would be categorized as a Level II liability in the fair value hierarchy based on the number and quality of broker quotes obtained, the standard deviations of the observed broker quotes and the percentage deviation from independent pricing services.

NET INCOME (LOSS) PER CLASS A S

NET INCOME (LOSS) PER CLASS A SHARE	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
NET INCOME (LOSS) PER CLASS A SHARE	NET INCOME (LOSS) PER CLASS A SHARE U.S. GAAP requires use of the two-class method of computing earnings per share for all periods presented for each class of common stock and participating security as if all earnings for the period had been distributed. Under the two-class method, during periods of net income, the net income is first reduced for distributions declared on all classes of securities to arrive at undistributed earnings. During periods of undistributed losses, the undistributed loss is allocated to participating securities only if the security has the right to participate in the earnings of the entity and an objectively determinable contractual obligation to share in net losses of the entity. The remaining undistributed earnings are allocated to Class A shares and participating securities to the extent that each security shares in earnings as if all of the earnings for the period had been distributed. Earnings or losses allocated to each class of security are then divided by the applicable number of shares to arrive at basic earnings per share. For the diluted earnings, the denominator includes all outstanding Class A shares and includes the number of additional Class A shares that would have been outstanding if the dilutive potential Class A shares had been issued. The numerator is adjusted for any changes in income or loss that would result from the issuance of these potential Class A shares. The table below presents basic and diluted net income per Class A share using the two-class method for the three and nine months ended September 30, 2015 and 2014 : Basic and Diluted For the Three Months Ended For the Nine Months Ended 2015 2014 2015 2014 Numerator: Net income attributable to Apollo Global Management, LLC $ 41,051 $ 2,210 $ 128,406 $ 146,047 Distributions declared on Class A shares (74,812 ) (1) (73,580 ) (2) (276,021 ) (1) (364,434 ) (2) Distributions on participating securities (5) (5,113 ) (10,161 ) (25,347 ) (56,588 ) Earnings allocable to participating securities — (3) — (3) — (3) — (3) Undistributed loss attributable to Class A shareholders: Basic and Diluted $ (38,874 ) $ (81,531 ) $ (172,962 ) $ (274,975 ) Denominator: Weighted average number of Class A shares outstanding: Basic and Diluted 176,169,986 158,466,602 170,879,302 153,071,007 Net Income per Class A share: Basic and Diluted Distributed Income $ 0.42 $ 0.46 $ 1.61 $ 2.38 Undistributed Loss (0.22 ) (0.51 ) (1.01 ) (1.80 ) Net Income (Loss) per Class A Share: Basic and Diluted (4) $ 0.20 $ (0.05 ) $ 0.60 $ 0.58 (1) The Company declared an $0.86 , $0.33 and $0.42 distribution on Class A shares on February 5, 2015 , May 7, 2015, and July 29, 2015, respectively. (2) The Company declared a $1.08 , $0.84 , and $0.46 distribution on Class A shares on February 7, 2014 , May 8, 2014, and August 6, 2014, respectively. (3) No allocation of undistributed losses was made to the participating securities as the holders do not have a contractual obligation to share in the losses of the Company with Class A shareholders. (4) For the three and nine months ended September 30, 2015 and 2014 , the Company had an undistributed loss attributable to Class A shareholders and none of the classes of securities resulted in dilution. All of the classes of securities were anti-dilutive for the periods indicated. (5) Participating securities consist of vested and unvested RSUs that have rights to distributions and unvested restricted shares. The Company has granted RSUs that provide the right to receive, subject to vesting, Class A shares of Apollo Global Management, LLC, pursuant to the Company’s 2007 Omnibus Equity Incentive Plan. Certain RSU grants to employees provide the right to receive distribution equivalents on vested RSUs on an equal basis any time a distribution is declared. The Company refers to these RSU grants as “Plan Grants.” For certain Plan Grants, distribution equivalents are paid in January of the calendar year next following the calendar year in which a distribution on Class A shares was declared. In addition, certain RSU grants to employees provide that both vested and unvested RSUs participate in distribution equivalents on an equal basis with the Class A shareholders any time a distribution is declared. The Company refers to these as “Bonus Grants.” Any distribution equivalent paid to an employee will not be returned to the Company upon forfeiture of the award by the employee. Vested and unvested RSUs that are entitled to non-forfeitable distribution equivalents qualify as participating securities and are included in the Company’s basic and diluted earnings per share computations using the two-class method. The holder of an RSU participating security would have a contractual obligation to share in the losses of the entity if the holder is obligated to fund the losses of the issuing entity or if the contractual principal or mandatory redemption amount of the participating security is reduced as a result of losses incurred by the issuing entity. Because the RSU participating securities do not have a mandatory redemption amount and the holders of the participating securities are not obligated to fund losses, neither the vested RSUs nor the unvested RSUs are subject to any contractual obligation to share in losses of the Company. Holders of AOG Units are subject to the vesting requirements and transfer restrictions set forth in the agreements with the respective holders, and may a limited number of times each year, upon notice (subject to the terms of the Exchange Agreement), exchange their AOG Units for Class A shares on a one-for-one basis. A limited partner must exchange one partnership unit in each of the Apollo Operating Group partnerships to effectuate an exchange for one Class A share. Apollo Global Management, LLC has one Class B share outstanding, which is held by BRH Holdings GP, Ltd. (“BRH”). The voting power of the Class B share is reduced on a one vote per one AOG Unit basis in the event of an exchange of AOG Units for Class A shares, as discussed above. The Class B share has no net income (loss) per share as it does not participate in Apollo’s earnings (losses) or distributions. The Class B share has no distribution or liquidation rights. The Class B share has voting rights on a pari passu basis with the Class A shares. The Class B share represented 61.7% and 65.4% of the total voting power of the Company’s shares entitled to vote as of September 30, 2015 and 2014 , respectively. The following table summarizes the weighted average vested and unvested RSUs, unexercised options, and AOG Units outstanding for the three and nine months ended September 30, 2015 and 2014 , respectively. For the Three Months Ended For the Nine Months Ended 2015 2014 2015 2014 Weighted average vested RSUs 8,358,613 19,410,438 11,553,100 20,639,048 Weighted average unvested RSUs 4,877,577 4,180,381 4,849,464 3,889,480 Weighted average unexercised options 227,086 237,503 228,475 654,170 Weighted average AOG Units outstanding 218,272,537 222,736,477 220,719,479 225,782,718 The table below presents transactions in Class A shares each quarter during the nine months ended September 30, 2015 and the year ended December 31, 2014 , and the resulting impact on the Company’s and Holdings’ ownership interests in the Apollo Operating Group: Date Type of Class A Shares Transaction Number of Shares Issued in Class A Shares Transaction (in thousands) Apollo Global Management, LLC ownership% in Apollo Operating Group before Class A Shares Transaction Apollo Global Management, LLC ownership% in Apollo Operating Group after Class A Shares Transaction Holdings ownership% in Apollo Operating Group before Class A Shares Transaction Holdings ownership% in Apollo Operating Group after Class A Shares Transaction Quarter Ended March 31, 2014 Issuance 2,672 39.0% 39.4% 61.0% 60.6% Quarter Ended Issuance/Exchange 7,344 (1) 39.4 41.2 60.6 58.8 Quarter Ended September 30, 2014 Issuance 3,660 41.2 41.8 58.8 58.2 Quarter Ended December 31, 2014 Issuance/Exchange 3,090 (1) 41.8 42.3 58.2 57.7 Quarter Ended March 31, 2015 Issuance/Exchange 4,866 (1) 42.3 43.0 57.7 57.0 Quarter Ended Issuance/Exchange 4,275 (1) 43.0 43.8 57.0 56.2 Quarter Ended September 30, 2015 Issuance/Exchange 6,819 (1) 43.8 45.3 56.2 54.7 (1) In May 2014, October 2014, February 2015, May 2015 and August 2015, certain holders of AOG Units exchanged their AOG Units for Class A shares and approximately 6.2 million , 0.1 million , 0.2 million , 1.8 million and 4.4 million Class A shares, respectively, were issued by the Company in the exchanges.

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
EQUITY-BASED COMPENSATION	EQUITY-BASED COMPENSATION RSUs The Company grants RSUs under the Company’s 2007 Omnibus Equity Incentive Plan. These grants are accounted for as a grant of equity awards in accordance with U.S. GAAP. The fair value of all grants after March 29, 2011 is based on the grant date fair value, which considers the public share price of the Company. For Plan Grants, the grant date fair value is based on the grant date public share price of the Company’s Class A shares discounted primarily for transfer restrictions and lack of distributions until vested. For Bonus Grants, the grant date fair value is based on the grant date public share price of the Company’s Class A shares discounted primarily for transfer restrictions and in certain cases timing of distributions. The following table summarizes the weighted average discounts for Plan Grants and Bonus Grants for the three and nine months ended September 30, 2015 and 2014. For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Plan Grants: Discount for the lack of distributions until vested (1) 26.1 % 29.2 % 26.2 % 37.3 % Marketability discount for transfer restrictions (2) 3.8 % 5.1 % 3.9 % 5.0 % Bonus Grants: Marketability discount for transfer restrictions (2) 2.3 % N/A 2.2 % 3.0 % (1) Based on the present value of a growing annuity calculation. (2) Based on the Finnerty Model calculation. The estimated total fair value is charged to compensation expense on a straight-line basis over the vesting period, which for Plan Grants is generally up to six years, with the first installment vesting one year after grant and quarterly vesting thereafter, and for Bonus Grants is annual vesting over three years. The fair value of grants made during the nine months ended September 30, 2015 and 2014 was $18.2 million and $85.8 million , respectively. The actual forfeiture rate was 0.9% and 1.1% for the three months ended September 30, 2015 and 2014 , respectively, and 1.3% and 7.5% for the nine months ended September 30, 2015 and 2014 , respectively. Compensation expense recognized for the three months ended September 30, 2015 and 2014 was $16.3 million and $15.7 million , respectively, and $49.9 million and $60.2 million for the nine months ended September 30, 2015 and 2014 , respectively. In addition, during 2014, the Company entered into an agreement with an executive officer providing for the grant of RSUs when certain metrics have been achieved. In accordance with U.S. GAAP, equity-based compensation expense is recognized only when certain metrics are met or deemed probable. Accordingly, for the three and nine months ended September 30, 2015 and 2014, no equity-based compensation expense was recognized relating to these RSUs. The following table summarizes RSU activity for the nine months ended September 30, 2015 : Unvested Weighted Average Grant Date Fair Value Vested Total Number of RSUs Outstanding Balance at January 1, 2015 10,717,635 $ 18.11 17,354,242 28,071,877 Granted 1,010,963 18.05 — 1,010,963 Forfeited (149,316 ) 20.46 — (149,316 ) Delivered — 13.55 (11,769,015 ) (11,769,015 ) Vested (2,055,811 ) 17.24 2,055,811 — Balance at September 30, 2015 9,523,471 $ 18.26 7,641,038 17,164,509 Units Expected to Vest —As of September 30, 2015 , approximately 9,000,000 RSUs were expected to vest over the next 3.2 years . Share Options The Company has granted options under the 2007 Omnibus Equity Incentive Plan. For the three months ended September 30, 2015 and 2014 , $0.0 million of compensation expense was recognized as a result of these grants. For the nine months ended September 30, 2015 and 2014 , $0.1 million and $28.1 million of compensation expense was recognized as a result of these grants, respectively. In connection with the departure of an employee from the Company, such employee vested in 1,250,000 share options that were previously granted to him and forfeited 1,250,000 share options that were previously granted to him. As a result of the additional vesting, the Company recorded an incremental compensation expense of $28.1 million related to the relevant option award agreement for the nine months ended September 30, 2014. There were no share options granted during the nine months ended September 30, 2015 and 2014. Apollo measures the fair value of each option award on the date of grant using the Black-Scholes option-pricing model. The expected life of the options granted represents the period of time that options are expected to be outstanding and is based on the contractual term of the option. Unamortized compensation cost related to unvested share options at September 30, 2015 was $0.3 million and is expected to be recognized over a weighted average period of 2.8 years . Delivery of Class A Shares - RSUs and Share Options During the nine months ended September 30, 2015 , the Company delivered Class A shares in settlement of vested RSUs and exercised share options. The Company has generally allowed holders of vested RSUs and exercised share options to settle their tax liabilities by reducing the number of Class A shares delivered to them, which the Company refers to as “net share settlement.” Additionally, the Company has generally allowed holders of share options to settle their exercise price by reducing the number of Class A shares delivered to them at the time of exercise by an amount sufficient to cover the exercise price. The net share settlement results in a liability for the Company and a corresponding accumulated deficit adjustment. This adjustment for the nine months ended September 30, 2015 was $53.0 million . The delivery of Class A shares in settlement of vested RSUs and exercised share options does not cause a transfer of amounts in the condensed consolidated statements of changes in shareholders’ equity to the Class A shareholders. The delivery of Class A shares in settlement of vested RSUs and exercised share options causes the income allocated to the Non-Controlling Interests to shift to the Class A shareholders from the date of delivery forward. The table below summarizes the delivery of Class A shares in settlement of vested RSUs and exercised share options for the nine months ended September 30, 2015 and 2014: For the Nine Months Ended September 30, 2015 2014 Class A shares delivered 9,253,602 7,457,755 Gross value of shares delivered (1) $ 261,566 $ 219,505 (1) Based on the closing price of a Class A share at the time of delivery. Restricted Share Awards—Athene Holding Athene Holding has granted restricted share awards (“AHL Awards”) to certain employees of Apollo. Certain of the awards granted are subject to time-based vesting conditions that generally vest over five years and certain of the awards vest once certain metrics have been achieved. During 2014, the vesting terms of some of the AHL Awards were modified such that the portion of AHL Awards related to services provided from the date of grant were deemed vested. The AHL Awards granted to employees of Athene Asset Management, L.P. (“Athene Asset Management”), a consolidated subsidiary of Apollo, are accounted for as a prepaid compensation asset within other assets and deferred revenue in the condensed consolidated statements of financial condition. From the date of grant, the deferred revenue is recognized as management fees and the prepaid compensation asset is recognized as compensation expense over the vesting period. The fair value of the awards to employees is based on the grant date fair value, which utilizes the share price of Athene Holding, less discounts for transfer restrictions. Shares granted as part of the AHL Awards were valued using a multiple-scenario model, which considers the price volatility of the underlying stock price of Athene Holding, time to expiration and the risk-free rate. The awards granted are recognized as liability awards and are remeasured each period to reflect the fair value of the prepaid compensation asset and deferred revenue. Any changes in fair value are recorded in management fees and equity-based compensation expense in the condensed consolidated statements of operations. There were no material grants of AHL Awards during the three and nine months ended September 30, 2015 . For the three months ended September 30, 2015 , $13.3 million of equity-based compensation expense was recognized in the condensed consolidated statements of operations, respectively, related to AHL Awards granted to employees of Athene Asset Management. For the nine months ended September 30, 2015 and 2014 , $19.6 million and $12.8 million of equity-based compensation expense was recognized in the condensed consolidated statements of operations, respectively, related to AHL Awards granted to employees of Athene Asset Management. Equity-Based Compensation Allocation Equity-based compensation is allocated based on ownership interests. Therefore, the amortization of the AOG Units is allocated to shareholders’ equity attributable to Apollo Global Management, LLC and the Non-Controlling Interests, which results in a difference in the amounts charged to equity-based compensation expense and the amounts credited to shareholders’ equity attributable to Apollo Global Management, LLC in the Company’s condensed consolidated financial statements. Below is a reconciliation of the equity-based compensation allocated to Apollo Global Management, LLC for the three months ended September 30, 2015 : Total Amount Non- Controlling Interest % in Apollo Operating Group Allocated to Non- Controlling Interest in Apollo Operating Group (1) Allocated to Apollo Global Management, LLC RSUs and Share Options $ 16,860 — % $ — $ 16,860 AHL Awards 13,331 54.7 7,293 6,038 Other equity-based compensation awards 1,213 54.7 664 549 Total Equity-Based Compensation $ 31,404 7,957 23,447 Less other equity-based compensation awards (2) (7,957 ) (7,221 ) Capital Increase Related to Equity-Based Compensation $ — $ 16,226 (1) Calculated based on average ownership percentage for the period considering Class A share issuances during the period. (2) Includes equity-based compensation reimbursable by certain funds. Below is a reconciliation of the equity-based compensation allocated to Apollo Global Management, LLC for the nine months ended September 30, 2015 : Total Amount Non- Controlling Interest % in Apollo Operating Group Allocated to Non- Controlling Interest in Apollo Operating Group (1) Allocated to Apollo Global Management, LLC RSUs and Share Options $ 50,305 — % $ — $ 50,305 AHL Awards 19,592 54.7 10,718 8,874 Other equity-based compensation awards 3,889 54.7 2,128 1,761 Total Equity-Based Compensation $ 73,786 12,846 60,940 Less other equity-based compensation awards (2) (12,846 ) (10,988 ) Capital Increase Related to Equity-Based Compensation $ — $ 49,952 (1) Calculated based on average ownership percentage for the period considering Class A share issuances during the period. (2) Includes equity-based compensation reimbursable by certain funds. Below is a reconciliation of the equity-based compensation allocated to Apollo Global Management, LLC for the three months ended September 30, 2014 : Total Amount Non- Controlling Interest % in Apollo Operating Group Allocated to Non- Controlling Interest in Apollo Operating Group (1) Allocated to Apollo Global Management, LLC RSUs and Share Options $ 15,368 — % $ — $ 15,368 AHL Awards (2,107 ) 58.2 (1,231 ) (876 ) Other equity-based compensation awards 726 58.2 425 301 Total Equity-Based Compensation $ 13,987 (806 ) 14,793 Less other equity-based compensation awards (2) 806 929 Capital Increase Related to Equity-Based Compensation $ — $ 15,722 (1) Calculated based on average ownership percentage for the period considering Class A share issuances during the period. (2) Includes equity-based compensation reimbursable by certain funds. Below is a reconciliation of the equity-based compensation allocated to Apollo Global Management, LLC for the nine months ended September 30, 2014 : Total Amount Non- Controlling Interest % in Apollo Operating Group Allocated to Non- Controlling Interest in Apollo Operating Group (1) Allocated to Apollo Global Management, LLC RSUs and Share Options $ 86,992 — % $ — $ 86,992 AHL Awards 12,839 58.2 7,680 5,159 Other equity-based compensation awards 1,845 58.2 1,100 745 Total Equity-Based Compensation $ 101,676 8,780 92,896 Less other equity-based compensation awards (2) (8,780 ) (4,584 ) Capital Increase Related to Equity-Based Compensation $ — $ 88,312 (1) Calculated based on average ownership percentage for the period considering Class A share issuances during the period. (2) Includes equity-based compensation reimbursable by certain funds.

RELATED PARTY TRANSACTIONS AND

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES	RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES The Company typically facilitates the initial payment of certain operating costs incurred by the funds that it manages as well as their affiliates. These costs are normally reimbursed by such funds and are included in due from affiliates. Due from affiliates and due to affiliates are comprised of the following: As of As of Due from Affiliates: Due from private equity funds $ 32,065 $ 30,091 Due from portfolio companies 35,872 41,844 Due from credit funds (1) 138,063 174,165 Due from Contributing Partners, employees and former employees 38,842 1,721 Due from real estate funds 20,523 20,162 Other 33 32 Total Due from Affiliates $ 265,398 $ 268,015 Due to Affiliates: Due to Managing Partners and Contributing Partners in connection with the tax receivable agreement $ 505,262 $ 509,149 Due to private equity funds 15,239 1,158 Due to credit funds 49,092 5,343 Distributions payable to employees 12,735 49,503 Total Due to Affiliates $ 582,328 $ 565,153 (1) As of December 31, 2014, includes unsettled monitoring fee receivable and management fee receivable from AAA and Athene as discussed in “Athene” below. Tax Receivable Agreement and Other Subject to certain restrictions, each of the Managing Partners and Contributing Partners has the right to exchange their vested AOG Units for the Company’s Class A shares. Certain Apollo Operating Group entities have made an election under Section 754 of the U.S. Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), which will result in an adjustment to the tax basis of the assets owned by the Apollo Operating Group at the time of the exchange. These exchanges will result in increases in tax deductions that will reduce the amount of tax that APO Corp. will otherwise be required to pay in the future. The tax receivable agreement provides for the payment to the Managing Partners and Contributing Partners of 85% of the amount of cash savings, if any, in U.S. federal, state, local and foreign income taxes that APO Corp. would realize as a result of the increases in tax basis of assets that resulted from the 2007 Reorganization and exchanges of AOG Units for Class A shares. If the Company does not make the required annual payment on a timely basis as outlined in the tax receivable agreement, interest is accrued on the balance until the payment date. These payments are expected to occur approximately over the next 15 years . In April 2014, Apollo made a $32.0 million cash payment pursuant to the tax receivable agreement resulting from the realized tax benefit for the 2013 tax year. Included in the payment was approximately $8.3 million and approximately $0.5 million of interest paid to the Managing Partners and Contributing Partners, respectively. In April 2015, Apollo made a $48.4 million cash payment pursuant to the tax receivable agreement resulting from the realized tax benefit for the 2014 tax year. Included in the payment was approximately $13.1 million and approximately $0.6 million of interest paid to the Managing Partners and Contributing Partners, respectively. During the nine months ended September 30, 2015 and the year ended December 31, 2014, the Intermediate Holding Companies acquired approximately 6.5 million and 6.3 million Class A shares of Apollo Global Management, LLC, respectively, which were used to acquire an equal number of AOG Units from certain Managing Partners and Contributing Partners in connection with exchanges of AOG Units for Class A shares. These exchanges were taxable for U.S. federal income tax purposes, and resulted in APO Corp. recording a U.S. federal income tax basis adjustment of approximately $94.4 million and $97.6 million in the intangible assets of certain Apollo Operating Group entities during the nine months ended September 30, 2015 and the year ended December 31, 2014, respectively. Pursuant to the tax receivable agreement, the Managing Partners and Contributing Partners who exchanged AOG Units for Class A shares will receive payment from APO Corp. of 85% of the amount of the actual cash tax savings, if any, in U.S. Federal, state, local and foreign income tax that APO Corp. realizes as a result of these increases in tax deductions and tax basis, and certain other tax benefits, including imputed interest expense. APO Corp. retains the benefit from the remaining 15% of actual cash tax savings. As a result of the exchanges during the nine months ended September 30, 2015 and 2014, a $44.5 million and a $47.9 million liability was recorded, respectively, to estimate the amount of these future expected payments to be made by APO Corp. to the Managing Partners and Contributing Partners pursuant to the tax receivable agreement. Due from Contributing Partners, Employees and Former Employees As of September 30, 2015 and December 31, 2014 , due from Contributing Partners, Employees and Former Employee balances include various amounts due to the Company including director fee receivables. In addition, as of September 30, 2015 , the balance included interest-bearing employee loans receivable of $25.0 million . The outstanding principal amount of the loans as well as all accrued and unpaid interest is required to be repaid at the earlier of the eighth anniversary of the date of the relevant loan or at the date of the relevant employee’s resignation from the Company. The Company has recorded a receivable from the Contributing Partners and certain employees and former employees for the potential return of profit sharing distributions that would be due if certain funds were liquidated as of September 30, 2015 with respect to ACLF, Fund V, ANRP I and a performance-based incentive plan of $5.3 million , $4.8 million , $1.3 million and $1.3 million , respectively, as of September 30, 2015. Distributions In addition to other distributions such as payments pursuant to the tax receivable agreement, the table below presents information regarding the quarterly distributions which were made at the sole discretion of the manager of the Company during 2014 and 2015 (in millions, except per share data): Distribution Declaration Date Distribution per Class A Share Amount Distribution Payment Date Distribution to Class A Shareholders Distribution to Non-Controlling Interest Holders in the Apollo Operating Group Total Distributions from Apollo Operating Group Distribution Equivalents on Participating Securities February 7, 2014 $ 1.08 February 26, 2014 $ 160.9 $ 247.3 $ 408.2 $ 25.5 April 3, 2014 — April 3, 2014 — 49.5 (1) 49.5 — May 8, 2014 0.84 May 30, 2014 130.0 188.4 318.4 20.9 June 16, 2014 — June 16, 2014 — 28.5 (1) 28.5 — August 6, 2014 0.46 August 29, 2014 73.6 102.5 176.1 10.2 September 11, 2014 — September 11, 2014 — 12.4 (1) 12.4 — October 30, 2014 0.73 November 21, 2014 119.0 162.6 281.6 15.5 December 15, 2014 — December 15, 2014 — 25.2 (1) 25.2 — For the year ended December 31, 2014 $ 3.11 $ 483.5 $ 816.4 $ 1,299.9 $ 72.1 February 5, 2015 $ 0.86 February 27, 2015 $ 144.4 $ 191.3 $ 335.7 $ 15.3 April 11, 2015 — April 11, 2015 — 22.4 (1) 22.4 — May 7, 2015 0.33 May 29, 2015 56.8 72.8 129.6 4.9 July 29, 2015 0.42 August 31, 2015 74.8 91.2 166.0 5.1 For the nine months ended September 30, 2015 $ 1.61 $ 276.0 $ 377.7 $ 653.7 $ 25.3 (1) On April 3, 2014, June 16, 2014, September 11, 2014, December 15, 2014 and April 11, 2015, the Company made distributions of $0.22 , $0.13 , $0.06 , $0.11 and $0.10 per AOG Unit, respectively, to the Non-Controlling Interest holders in the Apollo Operating Group. Indemnity Carried interest income from certain funds that the Company manages can be distributed to the Company on a current basis, but is subject to repayment by the subsidiary of the Apollo Operating Group that acts as general partner of the fund in the event that certain specified return thresholds are not ultimately achieved. The Managing Partners, Contributing Partners and certain other investment professionals have personally guaranteed, subject to certain limitations, the obligation of these subsidiaries in respect of this general partner obligation. Such guarantees are several and not joint and are limited to a particular Managing Partner’s or Contributing Partner’s distributions. An existing shareholders agreement includes clauses that indemnify each of the Company’s Managing Partners and certain Contributing Partners against all amounts that they pay pursuant to any of these personal guarantees in favor of certain funds that the Company manages (including costs and expenses related to investigating the basis for or objecting to any claims made in respect of the guarantees) for all interests that the Company’s Managing Partners and Contributing Partners have contributed or sold to the Apollo Operating Group. Accordingly, in the event that the Company’s Managing Partners, Contributing Partners and certain investment professionals are required to pay amounts in connection with a general partner obligation for the return of previously made distributions, the Company will be obligated to reimburse the Company’s Managing Partners and certain Contributing Partners for the indemnifiable percentage of amounts that they are required to pay even though the Company did not receive the certain distribution to which that general partner obligation related. The Company recorded an indemnification liability of $4.4 million as of September 30, 2015 . There was no indemnification liability recorded as of December 31, 2014 . Due to Private Equity Funds Based upon a hypothetical liquidation of Fund V, APC and ANRP I as of September 30, 2015 , the Company has recorded a general partner obligation to return previously distributed carried interest income, which represents amounts due to these funds. As such, there was a general partner obligation to return previously distributed carried interest income with respect to Fund V, APC and ANRP I of $10.5 million , $0.7 million and $3.5 million accrued as of September 30, 2015 , respectively. The actual determination and any required payment of a general partner obligation would not take place until the final disposition of the fund’s investments based on contractual termination of the fund or as otherwise set forth in the respective limited partnership agreement of the fund. Due to Credit Funds Based upon a hypothetical liquidation of certain of our credit funds, as of September 30, 2015 and December 31, 2014 , the Company has recorded a general partner obligation to return previously distributed carried interest income, which represents amounts due to these funds. As such, there was a general partner obligation to return previously distributed carried interest income with respect to ACLF, COF II and certain SIAs within the credit segment of $19.7 million , $0.1 million and $28.8 million accrued as of September 30, 2015 , respectively. As of December 31, 2014, there was a general partner obligation to return previously distributed carried interest income with respect to ACLF and an SIA of $2.5 million and $0.9 million , respectively. The actual determination and any required payment of a general partner obligation would not take place until the final disposition of the fund’s investments based on contractual termination of the fund or as otherwise set forth in the respective limited partnership agreement or other governing document of the fund. Athene Athene Holding is the ultimate parent of various insurance company operating subsidiaries. Through its subsidiaries, Athene Holding provides insurance products focused primarily on the retirement market and its business centers primarily on issuing or reinsuring fixed indexed annuities. Athene Asset Management receives a management fee equal to 0.40% per annum on all assets under management in accounts owned by or related to Athene (the “Athene Accounts”), with certain limited exceptions. In addition, the Company receives sub-advisory management fees and carried interest income with respect to a portion of the assets in the Athene Accounts. With respect to capital invested in an Apollo fund, Apollo receives management fees directly from the relevant funds under the investment management agreements with such funds. Athene Asset Management and other Apollo subsidiaries incur all expenses associated with their provision of services to Athene, including but not limited to, asset allocation services, direct asset management services, risk management, asset and liability matching management, mergers and acquisitions asset diligence, hedging and other services. Under a transaction advisory services agreement with Athene (the “Athene Services Agreement”), effective February 5, 2013 through December 31, 2014, Apollo earned a quarterly monitoring fee of 0.50% of Athene’s capital and surplus as of the end of the applicable quarter multiplied by 2.5 , excluding the shares of Athene Holding that were newly acquired (and not in satisfaction of prior commitments to buy such shares) by AAA Investments in the contribution of certain assets by AAA to Athene in October 2012 (the “Excluded Athene Shares”). The Athene Services Agreement was amended in connection with the Athene Private Placement described below (the “Amended Athene Services Agreement”). The Amended Athene Services Agreement adjusted the calculation of Athene Holding’s capital and surplus downward by an amount equal to (x) the equity capital raised in the Athene Private Placement and (y) certain disproportionate increases to the statutory capital and surplus of Athene, as compared to the stockholders’ equity of Athene calculated on a U.S. GAAP basis, as a result of certain future acquisitions by Athene. Prior to the consummation of the Athene Private Placement, all such monitoring fees were paid pursuant to a derivative contract between Athene and Apollo (the “Athene Services Derivative”). In connection with the Athene Private Placement, the Athene Services Derivative was settled on April 29, 2014 by delivery to Apollo of common shares of Athene Holding, and as a result, such derivative was terminated. Following settlement of the Athene Services Derivative, future monitoring fees paid to Apollo pursuant to the Amended Athene Services Agreement, were paid on a quarterly basis in arrears by delivery to Apollo of common shares of Athene Holding. Unsettled monitoring fees pursuant to the Amended Athene Services Agreement are recorded as due from affiliates in the condensed consolidated statements of financial condition. For the three and nine months ended September 30, 2014 , Apollo earned $57.7 million and $167.8 million , respectively related to this monitoring fee. The monitoring fee is recorded in advisory and transaction fees from affiliates, net, in the condensed consolidated statements of operations. As of December 31, 2014 , Apollo had a $58.2 million receivable recorded in due from affiliates on the condensed consolidated statements of financial condition. In accordance with the services agreement among AAA, AAA Investments and the other service recipients party thereto and Apollo (the “AAA Services Agreement”), Apollo receives a management fee for managing the assets of AAA Investments. In connection with each of the contribution of certain assets by AAA to Athene in October 2012, and the initial closing of the Athene Private Placement on April 4, 2014, the AAA Services Agreement was amended (the “Amended AAA Services Agreement”). Pursuant to the Amended AAA Services Agreement, the parties agreed that there will be no management fees payable by AAA Investments with respect to the Excluded Athene Shares. AAA Investments agreed to continue to pay Apollo the same management fee on its investment in Athene Holding (other than with respect to the Excluded Athene Shares), except that Apollo agreed that the obligation to pay the existing management fee terminated on December 31, 2014 (although services will continue through December 31, 2020). Prior to the consummation of the Athene Private Placement, all such management fees were accrued pursuant to a derivative contract between AAA Investments and Apollo (the “AAA Services Derivative”). In connection with the Athene Private Placement, the AAA Services Derivative was settled on April 29, 2014 by delivery to Apollo of common shares of Athene Holding, and as a result, such derivative was terminated. Following settlement of the AAA Services Derivative, future management fees paid to Apollo pursuant to the Amended AAA Services Agreement were paid on a quarterly basis in arrears by delivery to Apollo of common shares of Athene Holding. Unsettled management fees pursuant to the Amended AAA Services Agreement are recorded as due from affiliates in the condensed consolidated statements of financial condition. There were no management fees receivable as of September 30, 2015 as AAA Investments’ obligation to pay the existing management fee terminated on December 31, 2014. As of December 31, 2014 , Apollo had a $3.1 million receivable recorded in due from affiliates related to this management fee on the condensed consolidated statements of financial condition. The total management fees earned by Apollo related to the Amended AAA Services Agreement for the three and nine months ended September 30, 2015 were $0.9 million and $2.5 million , respectively, and $0.3 million and $1.1 million for the three and nine months ended September 30, 2014 , respectively. These management fees are recorded in management fees from affiliates in the condensed consolidated statements of operations. Prior to the settlement of the Athene Services Derivative and the AAA Services Derivative, the change in unrealized market value of the derivatives was reflected in other income, net in the condensed consolidated statements of operations. For the nine months ended September 30, 2014 , there were $14.0 million of changes in market value recognized related to these derivatives. In addition, Apollo, as general partner of AAA Investments, is generally entitled to a carried interest that allocates to it 20% of the realized returns (net of related expenses, including borrowing costs) on the investments of AAA Investments, except that Apollo will not be entitled to receive any carried interest in respect of the Excluded Athene Shares. Carried interest receivable from AAA Investments will be paid in common shares of Athene Holding (valued at the then fair market value) if there is a distribution in kind of shares of Athene Holding (unless such payment in shares would violate Section 16(b) of the Exchange Act) or paid in cash if AAA sells the shares of Athene Holding. For the three and nine months ended September 30, 2015 , the Company recorded carried interest income less the related profit sharing expense of $24.8 million and $28.4 million from AAA Investments, respectively, which is recorded in the condensed consolidated statements of operations. For the three and nine months ended September 30, 2014 , the Company recorded carried interest income less the related profit sharing expense of $(0.1) million and $14.5 million , respectively, from AAA Investments, which is recorded in the condensed consolidated statements of operations. As of September 30, 2015 and December 31, 2014 , the Company had a $178.1 million and a $121.5 million carried interest receivable, respectively, related to AAA Investments. As of September 30, 2015 and December 31, 2014 , the Company had a related profit sharing payable of $57.6 million and $34.9 million , respectively, recorded in profit sharing payable in the condensed consolidated statements of financial condition. For the three and nine months ended September 30, 2015 , Apollo earned revenues in the aggregate totaling $218.4 million and $425.0 million , respectively, consisting of management fees, sub-advisory and monitoring fees and carried interest income from Athene after considering the related profit sharing expense and changes in the market value of the Athene Holding shares owned directly by Apollo, which is recorded in the condensed consolidated statements of operations. For the three and nine months ended September 30, 2014 , Apollo earned revenues in the aggregate totaling $140.7 million and $408.1 million , respectively, consisting of management fees, sub-advisory and monitoring fees and carried interest income from Athene after considering the related profit sharing expense and changes in the market value of the Athene Holding shares owned directly by Apollo, which is recorded in the condensed consolidated statements of operations. See note 5 for further information regarding Apollo’s direct investment in Athene Holding. On April 4, 2014, Athene Holding completed an initial closing of a private placement offering of common equity in which it raised $1.048 billion of primary commitments from third-party institutional and certain existing investors in Athene Holding (the “Athene Private Placement”). Shares in the Athene Private Placement were offered at a price per common share of Athene Holding of $26.00 . In connection with the Athene Private Placement, Athene raised an additional $80 million of third party capital at $26.00 per share, all of which was used to buy back a portion of the shares of one of its existing investors at a price of $26.00 per share in a transaction that was consummated on April 29, 2014. As announced by AAA on June 24, 2014, a second closing of the Athene Private Placement occurred in which Athene Holding raised $170.0 million of commitments primarily from employees of Athene and its affiliates at a price per common share of Athene Holding of $26.00 . The Athene Private Placement offering was concluded in the first quarter of 2015 with a final closing of $60.0 million of additional capital commitments from affiliates of Athene. The Investment Partnership did not purchase any additional common shares of Athene Holding as part of the Athene Private Placement. The Company had an approximate 9.2% economic ownership interest in Athene Holding as of September 30, 2015 , which comprises Apollo’s direct ownership of 8.0% of the economic equity of Athene Holding plus an additional 1.2% economic ownership interest, which is calculated as the Company’s approximate 2.4% economic ownership interest in AAA plus the Company’s approximate 0.06% economic ownership interest in AAA Investments multiplied by AAA Investments’ approximate 46.3% economic ownership interest in Athene, calculated without giving effect to restricted common shares issued under Athene’s management equity plan as of September 30, 2015 . As disclosed in note 2 , as a result of the adoption of new accounting guidance, AAA was deconsolidated as of January 1, 2015. As of December 31, 2014 , the Company, through its consolidation of AAA, had an approximate 47.7% economic ownership interest in Athene through its investment in AAA Investments, (calculated as if the commitments on the Athene Private Placement closed through December 31, 2014 were fully drawn down but without giving effect to (i) restricted common shares issued under Athene’s management equity plan, or (ii) common shares to be issued under the Amended Athene Services Agreement subsequent to December 31, 2014 or (iii) the common shares to be issued under the Amended AAA Services Agreement subsequent to December 31, 2014). The Company effectively held 45% of the voting power of Athene as of December 31, 2014. The Company had an approximate 8.1% economic ownership interest in Athene Holding as of December 31, 2014, which comprises Apollo’s direct ownership of 6.9% of the economic equity of Athene Holding plus an additional 1.2% economic ownership interest, which is calculated as the Company’s approximate 2.5% economic ownership interest in AAA plus the Company’s approximate 0.06% economic ownership interest in AAA Investments multiplied by AAA Investments’ approximate 47.7% economic ownership interest in Athene as of December 31, 2014. During 2014, the remaining ownership interest in AAA is recognized in the Company’s condensed consolidated statements of operations as non-controlling interest in consolidated entities. MidCap During the nine months ended September 30, 2015 , Apollo, through its subsidiary Apollo MidCap Holdings (Cayman), L.P., entered into a subscription agreement providing for an aggregate commitment of $50.0 million to subscribe for (i) Class A Variable Funding Subordinated Notes due 2114 (“Class A Notes”) of MidCap FinCo Limited (“MidCap”), a private limited company domiciled in Ireland focused on direct lending opportunities in the senior secured credit market across a diverse range of industries and asset classes that includes the former operations and assets of MidCap Financial Holdings, LLC, a leading specialty finance firm focused on senior secured direct origination in the healthcare sector, and (ii) ordinary shares of nominal value in MidCap’s holding company, MidCap FinCo Holdings Limited (“Ordinary Shares”). The subscription agreement has a commitment period of three years (subject to extension under certain circumstances), and approximately $20.6 million of the commitment was drawn as of September 30, 2015. Pursuant to an investment management agreement, Apollo, through its subsidiary Apollo Capital Management, L.P., is acting as the investment manager of MidCap’s credit business. Certain third parties have also entered into subscription agreements for direct or indirect ownership of Class A Notes and Ordinary Shares. Additionally, during the nine months ended September 30, 2015 , AAA Investments (Co-Invest VII), L.P. (“Co-Invest VII”) contributed all of its ownership interest in MidCap Financial Holdings, LLC to MidCap in exchange for Class A Notes pursuant to a transfer agreement dated January 21, 2015. As a result of this contribution, Apollo, through its subsidiary AAA Associates (Co-Invest VII), L.P., the general partner of Co-Invest VII, realized $29.9 million of carried interest from Co-Invest VII, which Co-Invest VII settled with a payment of Class A Notes to AAA Associates (Co-Invest VII), L.P. Apollo has recorded a $50.2 million equity method investment in MidCap as of September 30, 2015, which is reflected in Investments in the condensed consolidated statement of financial condition. Regulated Entities Apollo Global Securities, LLC (“AGS”) is a registered broker dealer with the SEC and is a member of the Financial Industry Regulatory Authority, subject to the minimum net capital requirements of the SEC. AGS was in compliance with these requirements at September 30, 2015 . From time to time, this entity is involved in transactions with affiliates of Apollo, including portfolio companies of the funds Apollo manages, whereby AGS earns underwriting and transaction fees for its services. Apollo Management International LLP, is authorized and regulated by the U.K. Financial Conduct Authority and as such is subject to the capital requirements of the U.K. Financial Conduct Authority. This entity has continuously operated in excess of these regulatory capital requirements. Certain other of the Company’s U.S. and non-U.S. subsidiaries are subject to various regulations, including a number of U.S. entities that are registered as investment advisors with the SEC. To the extent applicable, these entities have continuously operated in excess of any minimum regulatory capital requirements. Interests in Consolidated Entities The table below presents equity interests in Apollo’s consolidated, but not wholly-owned, subsidiaries and funds. Net income and comprehensive income attributable to Non-Controlling Interests consisted of the following: For the Three Months Ended For the Nine Months Ended 2015 2014 2015 2014 AAA (1) $ — $ 429 $ — $ (197,908 ) Interest in management companies and a co-investment vehicle (2) (1,120 ) (2,797 ) (7,726 ) (11,291 ) Other consolidated entities (1,596 ) (17,220 ) (3,492 ) (12,113 ) Net (income) attributable to Non-Controlling Interests in consolidated entities (2,716 ) (19,588 ) (11,218 ) (221,312 ) Net income attributable to Appropriated Partners’ Capital (3) 2,555 132,517 — 73,226 Net (income) loss attributable to Non-Controlling Interests in the Apollo Operating Group (55,347 ) (42,955 ) (186,507 ) (350,049 ) Net (Income) Loss attributable to Non-Controlling Interests $ (55,508 ) $ 69,974 $ (197,725 ) $ (498,135 ) Net income attributable to Appropriated Partners’ Capital (4) (2,555 ) (132,517 ) — (73,226 ) Other comprehensive (income) loss attributable to Non-Controlling Interests (178 ) 606 5,572 606 Comprehensive Income Attributable to Non-Controlling Interests $ (58,241 ) $ (61,937 ) $ (192,153 ) $ (570,755 ) (1) Reflects the Non-Controlling Interests in the net (income) loss of AAA and is calculated based on the Non-Controlling Interests ownership percentage in AAA as of September 30, 2014 , which was approximately 97.5% . As of September 30, 2014 , Apollo owned approximately 2.5% of AAA. AAA has been deconsolidated effective January 1, 2015 as a result of the Company’s adoption of new accounting guidance, as described in note 2. (2) Reflects the remaining interest held by certain individuals who receive an allocation of income from certain of our credit funds. (3) Reflects net income of the consolidated CLOs classified as VIEs. (4) Appropriated Partners’ Capital is included in total Apollo Global Management, LLC shareholders’ equity and is therefore not a component of comprehensive income attributable to Non-Controlling Interests on the condensed consolidated statements of comprehensive income.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Financial Guarantees— Apollo has provided financial guarantees on behalf of certain employees for the benefit of unrelated third-party lenders in connection with their capital commitments to certain funds managed by the Company. As of September 30, 2015 , the maximum exposure relating to these financial guarantees approximated $0.1 million . Apollo has historically not incurred any liabilities as a result of these agreements and does not expect to in the future. Accordingly, no liability has been recorded in the accompanying condensed consolidated financial statements. Investment Commitments— As a limited partner, general partner and manager of the Apollo private equity, credit and real estate funds, Apollo has unfunded capital commitments as of September 30, 2015 and December 31, 2014 of $663.3 million and $646.6 million , respectively. Apollo has an ongoing obligation to acquire additional common units of AAA in an amount equal to 25% of the aggregate after-tax cash distributions, if any, that are made by AAA to Apollo’s affiliates pursuant to the carried interest distribution rights that are applicable to investments made through AAA Investments. In addition, on April 30, 2015, Apollo entered into a revolving credit agreement with AAA Investments (“AAA Investments Credit Agreement”). Under the terms of the AAA Investments Credit Agreement, the Company shall make available to AAA Investments one or more advances at the discretion of AAA Investments in the aggregate amount not to exceed a balance of $10.0 million at an applicable rate of LIBOR plus 1.5% and subject to an annual commitment fee of 0.125% on the unused portion of the loan. As of September 30, 2015 no advance on the AAA Investments Credit Agreement has been made by the Company. Debt Covenants— Apollo’s debt obligations contain various customary loan covenants. As of September 30, 2015 , the Company was not aware of any instances of non-compliance with the financial covenants contained in the documents governing the Company’s debt obligations. Litigation and Contingencies— Apollo is, from time to time, party to various legal actions arising in the ordinary course of business including claims and lawsuits, reviews, investigations or proceedings by governmental and self regulatory agencies regarding its business. In March 2012, plaintiffs filed two putative class actions, captioned Kelm v. Chase Bank (No. 12-cv-332) and Miller v. 1-800-Flowers.com, Inc. (No. 12-cv-396), in the District of Connecticut on behalf of a class of consumers alleging online fraud. The defendants included, among others, Trilegiant Corporation, Inc. (“Trilegiant”), its parent company, Affinion Group, LLC (“Affinion”), and Apollo Global Management, LLC (“AGM”), which is affiliated with funds that are the beneficial owners of 68% of Affinion’s common stock. In both cases, plaintiffs allege that Trilegiant, aided by its business partners, who include e-merchants and credit card companies, developed a set of business practices intended to create consumer confusion and ultimately defraud consumers into unknowingly paying fees to clubs for unwanted services. Plaintiffs allege that AGM is a proper defendant because of its indirect stock ownership and ability to appoint the majority of Affinion’s board. The complaints assert claims under the Racketeer Influenced Corrupt Organizations Act; the Electronic Communications Privacy Act; the Connecticut Unfair Trade Practices Act; and the California Business and Professional Code, and seek, among other things, restitution or disgorgement, injunctive relief, compensatory, treble and punitive damages, and attorneys’ fees. The allegations in Kelm and Miller are substantially similar to those in Schnabel v. Trilegiant Corp. (No. 3:10-cv-957), a putative class action filed in the District of Connecticut in 2010 that names only Trilegiant and Affinion as defendants. The court has consolidated the Kelm, Miller, and Schnabel cases under the caption In re: Trilegiant Corporation, Inc. and ordered that they proceed on the same schedule. On June 18, 2012, the court appointed lead plaintiffs’ counsel, and on September 7, 2012, plaintiffs filed their consolidated amended complaint (“CAC”), which alleges the same causes of action against AGM as did the complaints in the Kelm and Miller cases. Defendants filed motions to dismiss on December 7, 2012, plaintiffs filed opposition papers on February 7, 2013, and defendants filed replies on April 5, 2013. On December 5, 2012, plaintiffs filed another putative class action, captioned Frank v. Trilegiant Corp. (No. 12- cv-1721), in the District of Connecticut, naming the same defendants and containing allegations substantially similar to those in the CAC. On January 23, 2013, plaintiffs moved to transfer and consolidate Frank into In re: Trilegiant. On July 24, 2013 the Frank court transferred the case to Judge Bryant, who is presiding over In re: Trilegiant, and on March 28, 2014, Judge Bryant granted the motion to consolidate. On September 25, 2013, the court held oral argument on defendants’ motions to dismiss. On March 28, 2014, the court granted in part and denied in part motions to dismiss filed by Affinion and Trilegiant on behalf of all defendants, and also granted separate motions to dismiss filed by certain defendants, including AGM. On that same day, the court directed the clerk to terminate AGM as a defendant in the consolidated action. On April 28, 2014, plaintiffs moved for interlocutory review of certain of the court’s motion-to-dismiss rulings, not including its order granting AGM’s separate dismissal motion. Defendants filed a response on May 23, 2014, and plaintiffs replied on June 5, 2014. On November 13, 2014, plaintiffs and the remaining defendants filed a Joint Status Report Regarding Discovery stating that no discovery had taken place since plaintiffs filed their interlocutory-review motion. On March 26, 2015, the court denied plaintiffs’ motion for interlocutory review. On April 30, 2015, plaintiffs and the remaining defendants filed a joint report under Federal Rule of Civil Procedure 26(f) that, among other things, requested that the Court extend the deadlines in its standing order for (i) plaintiffs to file an amended complaint until May 29, 2015; (ii) the close of fact discovery until January 15, 2016; and (iii) full briefing of class certification until June 1, 2016. On May 29, 2015, the Court denied plaintiffs’ request to file an amended complaint and set (i) a December 31, 2015 discovery cutoff, (ii) a February 29, 2016 deadline for dispositive motions, and (iii) jury selection for November 1, 2016 (if dispositive motions are filed, or May 3, 2016, if they are not). On June 15, 2015, the court held a pre-motion hearing on class certification, and on June 16, 2015, the Court ordered class certification to be fully briefed by November 30, 2015. Various state attorneys general and federal and state agencies have initiated industry-wide investigations into the use of placement agents in connection with the solicitation of investments, particularly with respect to investments by public pension funds. Certain affiliates of Apollo have received subpoenas and other requests for information from various government regulatory agencies and investors in Apollo’s funds, seeking information regarding the use of placement agents. California Public Employees’ Retirement System (“CalPERS”), one of our Strategic Investors, announced on October 14, 2009, that it had initiated a special review of placement agents and related issues. The report of the CalPERS’ Special Review was issued on March 14, 2011. That report does not allege any wrongdoing on the part of Apollo or its affiliates. Apollo is continuing to cooperate with all such investigations and other reviews. In addition, on May 6, 2010, the California Attorney General filed a civil complaint against Alfred Villalobos and his company, Arvco Capital Research, LLC (“Arvco”) (a placement agent that Apollo has used) and Federico Buenrostro Jr., the former CEO of CalPERS, alleging conduct in violation of certain California laws in connection with CalPERS’s purchase of securities in various funds managed by Apollo and another asset manager. Apollo is not a party to the civil lawsuit and the lawsuit does not allege any misconduct on the part of Apollo. Likewise, on April 23, 2012, the SEC filed a lawsuit alleging securities fraud on the part of Arvco, as well as Messrs. Buenrostro and Villalobos, in connection with their activities concerning certain CalPERS investments in funds managed by Apollo. This lawsuit also does not allege wrongdoing on the part of Apollo, and alleges that Apollo was defrauded by Arvco, Villalobos, and Buenrostro. On March 14, 2013, the United States Department of Justice unsealed an indictment against Messrs. Villalobos and Buenrostro alleging, among other crimes, fraud in connection with those same activities; again, Apollo is not accused of any wrongdoing and in fact is alleged to have been defrauded by the defendants. The criminal action was set for trial in a San Francisco federal court in July 2014, but was put on hold after Mr. Buenrostro pleaded guilty on July 11, 2014. As part of Mr. Buenrostro’s plea agreement, he admitted to taking cash and other bribes from Mr. Villalobos in exchange for several improprieties, including attempting to influence CalPERS’ investing decisions and improperly preparing disclosure letters to satisfy Apollo’s requirements. There is no suggestion that Apollo was aware that Mr. Buenrostro had signed the letters with a corrupt motive. The government has indicated that they will file new charges against Mr. Villalobos incorporating Mr. Buenrostro’s admissions. On August 7, 2014, the government filed a superseding indictment against Mr. Villalobos asserting additional charges. Trial had been scheduled for February 23, 2015, but Mr. Villalobas passed away on January 13, 2015. Additionally, on April 15, 2013, Mr. Villalobos, Arvco and related entities (the “Arvco Debtors”) brought a civil action in the United States Bankruptcy Court for the District of Nevada (the “Bankruptcy Court”) against Apollo. The action is related to the ongoing bankruptcy proceedings of the Arvco Debtors. This action alleges that Arvco served as a placement agent for Apollo in connection with several funds associated with Apollo, and seeks to recover purported fees the Arvco Debtors claim Apollo has not paid them for a portion of Arvco’s placement agent services. In addition, the Arvco Debtors allege that Apollo has interfered with the Arvco Debtors’ commercial relationships with third parties, purportedly causing the Arvco Debtors to lose business and to incur fees and expenses in the defense of various investigations and litigations. The Arvco Debtors also seek compensation from Apollo for these alleged lost profits and fees and expenses. The Arvco Debtors’ complaint asserts various theories of recovery under the Bankruptcy Code and common law. Apollo denies the merit of all of the Arvco Debtors’ claims and will vigorously contest them. The Bankruptcy Court had stayed this action pending the result in the criminal case against Mr. Villalobos but lifted the stay on May 1, 2015; in light of Mr. Villalobos’s death, the criminal case was dismissed. For these reasons, no estimate of possible loss, if any, can be made at this time. On June 18, 2014, BOKF N.A. (the “First Lien Trustee”), the successor indenture trustee under the indenture governing the First Lien Notes issued by Momentive Performance Materials, Inc. (“Momentive”), commenced a lawsuit in the Supreme Court for the State of New York, New York County against AGM and members of an ad hoc group of Second Lien Noteholders (including, but not limited to, Euro VI (BC) S.a.r.l.). The First Lien Trustee amended its complaint on July 2, 2014 (the “First Lien Intercreditor Action”). In the First Lien Intercreditor Action, the First Lien Trustee seeks, among other things, a declaration that the defendants violated an intercreditor agreement entered into between holders of the First Lien Notes and holders of the second lien notes. On July 16, 2014, the successor indenture trustee under the indenture governing the 1.5 Lien Notes (the “1.5 Lien Trustee,” and, together with the First Lien Trustee, the “Indenture Trustees”) filed an action in the Supreme Court of the State of New York, New York County that is substantially similar to the First Lien Intercreditor Action (the “1.5 Lien Intercreditor Action,” and, together with the First Lien Intercreditor Action, the “Intercreditor Actions”). AGM subsequently removed the Intercreditor Actions to federal district court, and the Intercreditor Actions were automatically referred to the Bankruptcy Court adjudicating the Momentive chapter 11 bankruptcy cases. The Indenture Trustees then filed motions with the Bankruptcy Court to remand the Intercreditor Actions back to the state court (the “Remand Motions”). On September 9, 2014, the Bankruptcy Court denied the Remand Motions. On August 15, 2014, the defendants in the Intercreditor Actions (including AGM) filed a motion to dismiss the 1.5 Lien Intercreditor Action and a motion for judgment on the pleadings in the First Lien Intercreditor Action (the “Dismissal Motions”). On September 30, 2014, the Bankruptcy Court granted the Dismissal Motions. In its order granting the Dismissal Motions, the Bankruptcy Court gave the Indenture Trustees until mid-November 2014 to move to amend some, but not all, of the claims alleged in their respective complaints. On November 14, 2014, the Indenture Trustees moved to amend their respective complaints pursuant to the Bankruptcy Court’s order (the “Motions to Amend”). On January 9, 2015, the defendants filed their oppositions to the Motions to Amend. On January 16, 2015, the Bankruptcy Court denied the Motions to Amend (the “Dismissal Order”), but gave the Indenture Trustees until March 2, 2015 to seek to amend their respective complaints. On March 2, 2015, the First Lien Trustee filed a motion seeking to amend its complaint. On April 10, 2015, the defendants, including AGM and Euro VI (BC) S.a.r.l., filed an opposition to the First Lien Trustee’s motion to amend. Instead of moving again to amend its complaint, the 1.5 Lien Trustee chose to appeal the Dismissal Order (the “1.5 Lien Appeal”). On March 30, 2015, the 1.5 Lien Trustee filed its Statement of Issues and Designation of Record on Appeal. On March 31, 2015, because the legal issues presented in the 1.5 Lien Appeal are substantially similar to those presented in the First Lien Intercreditor Action, the parties in the 1.5 Lien Appeal submitted a joint stipulation and proposed order to the District Court staying the briefing schedule on the 1.5 Lien Appeal pending the outcome of the First Lien Trustee’s most recent motion to amend. On April 13, 2015, the Defendants filed their Counter-Designation of the Record on Appeal in the 1.5 Lien Appeal. On May 8, 2015, the Bankruptcy Court denied the motion to amend filed on March 2, 2015 by the First Lien Trustee. On May 27, 2015, the First Lien Trustee filed a notice of appeal from the orders of the Bankruptcy Court dismissing the First Lien Intercreditor Action and denying the First Lien Trustee’s motions to amend (the “First Lien Appeal”). On June 2, 2015, the First Lien Trustee filed its Statement of Issues and Designation of Record on Appeal. On June 24, 2015, the defendants filed their Counter-Designation of the Record on Appeal in the First Lien Appeal. On July 31, 2015, the 1.5 Lien Trustee sent a letter to the federal district court hearing the 1.5 Lien Appeal asking the court to consolidate the 1.5 Lien Appeal with the First Lien Appeal which had been assigned to a different judge (the “Consolidation Request”). On August 4, 2015, the First Lien Trustee asked the federal district court hearing the First Lien Appeal to stay all further proceedings in the First Lien Appeal until the court hearing the 1.5 Lien Appeal decided whether to consolidate the First Lien Appeal with the 1.5 Lien Appeal. On August 5, 2015, the court granted the First Lien Trustee’s request to stay the First Lien Appeal pending the other court’s decision on whether to consolidate the First Lien Appeal with the 1.5 Lien Appeal. As a result of the Consolidation Request, the 1.5 Lien Trustee has taken the position that the 1.5 Lien Appeal has also been stayed, and therefore no briefs have been filed in either the First Lien Appeal or the 1.5 Lien Appeal. On October 15, 2015, the federal district court held a pre-motion conference on the Consolidation Request and ordered the 1.5 Lien Trustee to file a motion in support of the Consolidation Request on or before November 16, 2015. Apollo is unable at this time to assess a potential risk of loss. In addition, Apollo does not believe that AGM is a proper defendant in these actions. On June 13, 2014, plaintiffs Stark Master Fund Ltd and Stark Global Opportunities Master Fund Ltd filed a lawsuit in the United States District Court for the Eastern District of Wisconsin against AGM and Apollo Management Holdings, (the “Apollo Defendants”), as well as Credit Suisse Securities (USA) LLC and Deutsche Bank Securities (USA) LLC (the “Bank Defendants”). The complaint alleges that the Apollo Defendants and the other defendants entered into an undisclosed and improper agreement concerning the financing of a potential acquisition of Hexion Specialty Chemicals Inc., and on this basis alleges a variety of common law misrepresentation claims, both intentional and negligent. The Apollo Defendants and Bank Defendants filed motions to dismiss the complaint on October 15, 2014. Rather than respond to the motions, plaintiffs filed an Amended Complaint on November 5, 2014. The Apollo Defendants and Bank Defendants filed motions to dismiss the Amended Complaint on December 23, 2014. Plaintiffs filed a motion for leave to conduct jurisdictional discovery on February 2, 2015. On April 9, 2015, the Court issued an order granting plaintiffs’ motion for leave to conduct limited jurisdictional discovery. Pursuant to the parties’ stipulation approved by the Court, Plaintiffs must file their opposition to Defendants’ motion to dismiss the Amended Complaint on or before 30 days following the close of jurisdictional discovery. Because the claims against the Apollo Defendants are in their early stages, no reasonable estimate of possible loss, if any, can be made at this time. There are several pending actions concerning transactions related to Caesars Entertainment Operating Company, Inc.’s (“CEOC”) restructuring efforts. Apollo is not a defendant in these matters. • In re: Caesars Entertainment Operating Company, Inc. bankruptcy proceedings, No. 15-10047 (Del. Bankr.) (the “Delaware Bankruptcy Action”) and No. 15-01145 (N.D. Ill. Bankr.) (the “Illinois Bankruptcy Action”). On January 12, 2015, three holders of CEOC second lien notes filed an involuntary bankruptcy petition against CEOC in the United States Bankruptcy Court for the District of Delaware. On January 15, 2015, CEOC and certain of its affiliates (collectively the “Debtors”) filed for Chapter 11 bankruptcy in the Northern District of Illinois. On February 2, 2015, the court in the Delaware Bankruptcy Action ordered that all bankruptcy proceedings relating to the Debtors should take place in the Illinois Bankruptcy Action. On March 11, 2015, the Debtors filed an adversary complaint in the Illinois Bankruptcy Action to stay, pending resolution of the bankruptcy, the Trustee, Meehancombs, Danner, and BOKF Actions described below. On June 3-4, 2015, the court held an evidentiary hearing on the Debtors’ stay request. On July 22, 2015, the court denied the Debtors’ stay request (the “Stay Denial”). On October 8, 2015, the United States District Court for the Northern District of Illinois (No. 15-06504 (N.D. Ill.)) affirmed the Stay Denial, and the Debtors filed an appeal to the United States Court of Appeals for the Seventh Circuit (No. 15-3259 (7th Cir.)). On October 19, 2015, the Debtors filed their opening brief and sought expedited handling of the appeal. Responding briefs are due November 18, 2015, and the Debtors’ reply is due November 30, 2015. Oral argument is scheduled Thursday, December 10, 2015. Separately, the bankruptcy court held an evidentiary hearing to determine whether the Debtors’ petition date was January 12, 2015 or January 15, 2015. Closing arguments in connection with that evidentiary proceeding are scheduled for December 7, 2015. Certain of the Debtors’ creditors have indicated in filings with the Illinois bankruptcy court that an investigation into certain acts and transactions that predated the Debtors’ bankruptcy filing could lead to claims against a number of parties, including Apollo. To date, no such claims have been brought against Apollo. • Wilmington Savings Fund Society, FSB v. Caesars Entertainment Corp. et al., No. 10004-CVG (Del. Ch.) (the “Trustee Action”). On August 4, 2014, Wilmington Savings Fund Society, FSB (“WSFS”), as trustee for certain CEOC second-lien notes, sued Caesars Entertainment Corporation (“Caesars Entertainment”), CEOC, other Caesars Entertainment-affiliated entities, and certain of Caesars Entertainment’s directors, including Marc Rowan, Eric Press, David Sambur (each an Apollo Partner) and Jeff Benjamin (a consultant to Apollo), in Delaware’s Court of Chancery. WSFS (i) asserts claims (against some or all of the defendants) for fraudulent conveyance, breach of fiduciary duty, breach of contract, corporate waste and aiding and abetting related to certain transactions among CEOC and other Caesars Entertainment affiliates, and (ii) requests (among other things) that the court unwind the challenged transactions and award damages. WSFS served a subpoena for documents on Apollo on September 11, 2014, but Apollo’s response was stayed during the pendency of motions to dismiss under a September 23, 2014 stipulated order. On March 18, 2015, the Court denied Defendants’ motion to dismiss. Apollo served responses and objections to the Trustee’s subpoena on March 25, 2015. Caesars Entertainment answered the complaint on April 1, 2015. During the pendency of CEOC’s bankruptcy proceedings, the Trustee Action has been automatically stayed with respect to CEOC. WSFS additionally advised the bankruptcy court that, during CEOC’s bankruptcy proceedings, the Trustee would only pursue claims in the Trustee Action relating to whether Caesars Entertainment remains liable on a guarantee of certain of CEOC’s second priority notes. On July 17, 2015, WSFS served supplemental subpoenas to several entities affiliated with Apollo. Apollo has substantially completed its production of non-privileged documents responsive to those subpoenas. • Meehancombs Global Credit Opportunities Master Fund, L.P., et al. v. Caesars Entertainment Corp., et al., No. 14-cv-7091 (S.D.N.Y.) (the “Meehancombs Action”). On September 3, 2014, institutional investors allegedly holding approximately $137 million in CEOC unsecured senior notes sued CEOC and Caesars Entertainment for breach of contract and the implied covenant of good faith, Trust Indenture Act violations and a declaratory judgment challenging the August 2014 private financing transaction in which a portion of outstanding senior unsecured notes were purchased by Caesars Entertainment, and a majority of the noteholders agreed to amend the indenture to terminate Caesars Entertainment’s guarantee of the notes and modify certain restrictions on CEOC’s ability to sell assets. Caesars Entertainment and CEOC filed a motion to dismiss on November 12, 2014. On January 15, 2015, the court granted the motion with respect to a Trust Indenture Act claim by Meehancombs but otherwise denied the motion. On January 30, 2015, plaintiffs filed an amended complaint seeking relief against Caesars Entertainment only, and Caesars Entertainment answered on February 12, 2015. On October 2, 2014, a related putative class action complaint was filed on behalf of the holders of these notes captioned Danner v. Caesars Entertainment Corp., et al., No. 14-cv-7973 (S.D.N.Y.) (the “Danner Action”), against Caesars Entertainment alleging claims similar to those in the Meehancombs Action. On February 19, 2015, plaintiffs filed an amended complaint, and Caesars Entertainment answered the amended complaint on February 25, 2015. In March 2015, each of Meehancombs and Danner served subpoenas for documents on Apollo. Apollo produced responsive, non-privileged documents in response to those subpoenas. In July 2015, Meehancombs and Danner served subpoenas for depositions on Apollo and those depositions were completed on September 22, 2015. On October 23, 2015, Meehancombs and Danner filed motions for partial summary judgment, related to Trust Indenture Act and breach of contract claims. Caesars Entertainment has not yet filed its response. • UMB Bank v. Caesars Entertainment Corporation, et al., No. 10393 (Del. Ch.) (the “UMB Action”). On November 25, 2014, UMB Bank, as trustee for certain CEOC notes, sued Caesars Entertainment, CEOC, other Caesars Entertainment-affiliated entities, and certain of Caesars Entertainment’s directors, including Marc Rowan, Eric Press, David Sambur (each an Apollo Partner) and Jeffrey Benjamin (an Apollo consultant), in Delaware Chancery Court. The lawsuit alleges claims for actual and constructive fraudulent conveyance and transfer, insider preferences, illegal dividends, breach of contract, intentional interference with contractual relations, breach of fiduciary duty, aiding and abetting breach of fiduciary duty, usurpation of corporate opportunities, and unjust enrichment. The UMB Action seeks appointment of a receiver for CEOC, a constructive trust, and other relief. The UMB Action has been assigned to the same judge overseeing the Trustee Action. Upon filing the complaint, UMB Bank moved to expedite is claim seeking a receiver, on which the court held oral argument on December 17, 2014. On January 15, 2015, the court entered a stipulated order staying the UMB Action as to all parties due to CEOC’s bankruptcy filing. • Koskie v. Caesars Acquisition Company, et al., No. A-14-711712-C (Clark Cnty Nev. Dist. Ct.) (the “Koskie Action”). On December 30, 2014, Nicholas Koskie brought a shareholder class action on behalf of shareholders of Caesars Acquisition Company (“CAC”) against CAC, Caesars Entertainment, and members of CAC’s Board of Directors, including Marc Rowan and David Sambur (each an Apollo partner). The lawsuit challenges CAC and Caesars Entertainment’s plan to merge, alleging that the proposed transaction will not give CAC shareholders fair value. Koskie asserts claims for breach of fiduciary duty relating to the director defendants’ interrelationships with the entities involved the proposed transaction. The deadline for CAC to respond to this lawsuit has been adjourned indefinitely by agreement of the parties. • BOKF, N.A. v. Caesars Entertainment Corporation, No. 15-156 (S.D.N.Y) (the “BOKF Action”). On March 3, 2015, BOKF, N.A., as trustee for certain CEOC notes, sued Caesars Entertainment in the Southern District of New York. The lawsuit alleges claims for breach of contract, intentional interference with contractual relations and a declaratory judgment, and seeks to enforce Caesars Entertainment’s guarantee of certain CEOC notes. The BOKF Action has been assigned to the same judge as the Meehancombs and Danner Actions. On March 25, 2015, Caesars Entertainment filed an answer to the complaint. On May 19, 2015, BOKF sent the court a letter requesting permission to file a partial summary judgment motion on Counts II and V of its complaint, related to the validity and enforceability of Caesars Entertainment’s guarantee of certain notes issued by CEOC and alleged violations of the Trust Indenture Act, 15 U.S.C. §§ 76aaa, et seq. The Meehancombs and Danner plaintiffs did not join BOKF’s request to file for partial summary judgment. On May 28, 2015, the court granted BOKF permission to move for partial summary judgment. On June 15, 2015, another related complaint captioned UMB Bank, N.A. v. Caesars Entertainment Corp., et al., No. 15-cv-4634 (S.D.N.Y.) (the “UMB SDNY Action”) was filed by UMB Bank, N.A., solely in its capacity as Indenture Trustee of certain first lien notes (“UMB”), against Caesars Entertainment alleging claims similar to those alleged in the BOKF, Meehancombs, and Danner Actions. On June 16, 2015, UMB sent a letter to the court requesting permission to file a partial summary judgment motion on the same schedule with BOKF. On June 26, 2015, BOKF and UMB filed partial summary judgment motions (the “Partial Summary Judgment Motions”). On July 24, 2015, Caesars Entertainment filed its opposition to the Partial Summary Judgment Motions, and on August 7, 2015, BOKF and UMB filed reply briefs in further support of the Partial Summary Judgment Motions. On August 27, 2015, the Court denied the Partial Summary Judgment Motions and certified its opinion for an interlocutory appeal to the United States Court of Appeals for the Second Circuit. On September 9, 2015, Caesars Entertainment filed a Petition for Permission to Appeal with the Second Circuit. During the pendency of the appeal, discovery in the BOKF and UMB SDNY Actions has continued, including depositions of certain individuals associated with Apollo and other entities. On October 20, 2015, another related complaint captioned Wilmington Trust, National Association v. Caesars Entertainment Corp., No. 15-cv-08280 (S.D.N.Y.) (the “Wilmington Trust Action”) was filed by Wilmington Trust, N.A., solely in its capacity as Indenture Trustee for the 10.75% Notes due 2016 (“Wilmington Trust”), against Caesars Entertainment alleging claims similar to those alleged in the BOKF, UMB, Meehancombs, and Danner Actions. The Wilmington Trust Action has been referred to the same judge as the other Southern District of New York litigations. • Apollo believes that the claims in the Trustee Action, the UMB Action, the Meehancombs Action, the Danner Action, the Koskie Action, the BOKF Action, the UMB SDNY Action, and the Wilmington Trust Action are without merit. For this reason, and because the claims are in their early stages, and because of pending bankruptcy proceedings involving CEOC, no reasonable estimate of possible loss, if any, can be made at this time. Following the January 16, 2014 announcement that CEC Entertainment, Inc. (“CEC”) had entered into a merger agreement with certain entities affiliated with Apollo (the “Merger Agreement”), four putative shareholder class actions were filed in the District Court of Shawnee County, Kansas on behalf of purported stockholders of CEC against, among others, CEC, its directors and Apollo and certain of its affiliates, which include Queso Holdings Inc., Q Merger Sub Inc., Apollo Management VIII, L.P., and AP VIII Queso Holdings, L.P. The first purported class action, which is captioned Hilary Coyne v. Richard M. Frank et al., Case No. 14C57, was filed on January 21, 2014 (the “Coyne Action”). The second purported class action, which was captioned John Solak v. CEC Entertainment, Inc. et al., Civil Action No. 14C55, was filed on January 22, 2014 (the “Solak Action”). The Solak Action was dismissed for lack of prosecution on October 14, 2014. The third purported class action, which is captioned Irene Dixon v. CEC Entertainment, Inc. et al., Case No. 14C81, was filed on January 24, 2014 and additionally names as defendants Apollo Management VIII, L.P. and AP VIII Queso Holdings, L.P. (the “Dixon Action”). The fourth purported class action, which is captioned Louisiana Municipal Public Employees’ Retirement System v. Frank, et al., Case No. 14C97, was filed on January 31, 2014 (the “LMPERS Action”) (together with the Coyne and Dixon Actions, the “Shareholder Actions”). A fifth purported class action, which was captioned McCullough v. Frank, et al., Case No. CC-14-00622-B, was filed in the County Court of Dallas County, Texas on February 7, 2014. This action was dismissed for want of prosecution on May 21, 2014. Each of the Shareholder Actions alleges, among other things, that CEC’s directors breached their fiduciary duties to CEC’s stockholders in connection with their consideration and approval of the Merger Agreement, including by agreeing to an inadequate price, agreeing to impermissible deal protection devices, and filing materially deficient disclosures regarding the transaction. Each of the Shareholder Actions further alleges that Apollo and cert

MARKET AND CREDIT RISK

MARKET AND CREDIT RISK	9 Months Ended
	Sep. 30, 2015
Disclosure Market And Credit Risk Additional Information [Abstract]
MARKET AND CREDIT RISK	MARKET AND CREDIT RISK In the normal course of business, Apollo encounters market and credit risk concentrations. Market risk reflects changes in the value of investments due to changes in interest rates, credit spreads or other market factors. Credit risk includes the risk of default on Apollo’s investments, where the counterparty is unable or unwilling to make required or expected payments. The Company is subject to a concentration risk related to the investors in its funds. As of September 30, 2015 , there were more than 1,000 investors in Apollo’s active private equity, credit and real estate funds, and no individual investor accounted for more than 10% of the total committed capital to Apollo’s active funds. Apollo’s derivative financial instruments contain credit risk to the extent that its counterparties may be unable to meet the terms of the agreements. Apollo seeks to minimize this risk by limiting its counterparties to highly rated major financial institutions with good credit ratings. Management does not expect any material losses as a result of default by other parties. Substantially all amounts on deposit with major financial institutions that exceed insured limits are invested in interest-bearing accounts with U.S. money center banks. Apollo is exposed to economic risk concentrations insofar as Apollo is dependent on the ability of the funds that it manages to compensate it for the services it provides to these funds. Further, the incentive income component of this compensation is based on the ability of such funds to generate returns above certain specified thresholds. Additionally, Apollo is exposed to interest rate risk. Apollo has debt obligations that have variable rates. Interest rate changes may therefore affect the amount of interest payments, future earnings and cash flows. At September 30, 2015 and December 31, 2014 , $532.3 million and $535.0 million of Apollo’s debt balance (excluding debt of the consolidated VIEs) had a variable interest rate, respectively.

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING Apollo conducts its business primarily in the United States and substantially all of its revenues are generated domestically. Apollo’s business is conducted through the following three reportable segments: • Private Equity —primarily invests in control equity and related debt instruments, convertible securities and distressed debt investments; • Credit —primarily invests in non-control corporate and structured debt instruments; and • Real Estate —primarily invests in real estate equity for the acquisition and recapitalization of real estate assets, portfolios, platforms and operating companies, and real estate debt including first mortgage and mezzanine loans, preferred equity and commercial mortgage backed securities. These business segments are differentiated based on the varying investment strategies. The performance is measured by management on an unconsolidated basis because management makes operating decisions and assesses the performance of each of Apollo’s business segments based on financial and operating metrics and data that exclude the effects of consolidation of any of the affiliated funds. The Company’s financial results vary since carried interest, which generally constitutes a large portion of the income from the funds that Apollo manages, as well as the transaction and advisory fees that the Company receives, can vary significantly from quarter to quarter and year to year. As a result, the Company emphasizes long-term financial growth and profitability to manage its business. During the first quarter of 2015 the Company renamed Economic Net Income to Economic Income (“EI”). Additionally, the definition of EI was changed to exclude transaction-related charges related to contingent consideration associated with acquisitions. The impact of this change on EI is reflected in the table below for Apollo’s three reportable segments for the three and nine months ended September 30, 2014 . The exclusion of transaction-related charges relating to contingent consideration associated with acquisitions only impacted the credit segment. Impact of Revised Definition on Economic Income (Loss) Total EI as Previously Reported Impact of Revised Definition Total EI After Revised Definition For the Three Months Ended September 30, 2014 $ 83,246 $ (11,919 ) $ 71,327 For the Nine Months Ended September 30, 2014 619,559 (7,125 ) 612,434 These changes have been made to prior period financial data reportable segments to conform to the current period presentation. Economic Income (Loss) Economic Income, or EI, is a key performance measure used by management in evaluating the performance of Apollo’s private equity, credit and real estate segments. Management believes the components of EI, such as the amount of management fees, advisory and transaction fees and carried interest income, are indicative of the Company’s performance. Management uses EI in making key operating decisions such as the following: • Decisions related to the allocation of resources such as staffing decisions including hiring and locations for deployment of the new hires; • Decisions related to capital deployment such as providing capital to facilitate growth for the business and/or to facilitate expansion into new businesses; and • Decisions relating to expenses, such as determining annual discretionary bonuses and equity-based compensation awards to its employees. With respect to compensation, management seeks to align the interests of certain professionals and selected other individuals with those of the investors in such funds and those of the Company’s shareholders by providing such individuals a profit sharing interest in the carried interest income earned in relation to the funds. To achieve that objective, a certain amount of compensation is based on the Company’s performance and growth for the year. EI is a measure of profitability and has certain limitations in that it does not take into account certain items included under U.S. GAAP. EI represents segment income (loss) before income tax provision excluding transaction-related charges arising from the 2007 private placement, and any acquisitions. Transaction-related charges include equity-based compensation charges, the amortization of intangible assets, contingent consideration and certain other charges associated with acquisitions. In addition, segment data excludes non-cash revenue and expense related to equity awards granted by unconsolidated affiliates to employees of the Company, as well as the assets, liabilities and operating results of the funds and VIEs that are included in the condensed consolidated financial statements. The following table presents financial data for Apollo’s reportable segments as of and for the three months ended September 30, 2015 and 2014 : As of and for the Three Months Ended Private Equity Segment Credit Segment Real Estate Segment Total Reportable Segments Revenues: Advisory and transaction fees from affiliates, net $ 4,736 $ 4,141 $ 399 $ 9,276 Management fees from affiliates 71,876 141,706 13,176 226,758 Carried interest income from affiliates: — Unrealized (gains) losses (1) (167,364 ) (15,056 ) 3,334 (179,086 ) Realized gains 102,138 22,331 46 124,515 Total Revenues 11,386 153,122 16,955 181,463 Expenses: Compensation and benefits: Salary, bonus and benefits 27,183 56,945 9,982 94,110 Equity-based compensation 6,974 6,896 1,068 14,938 Profit sharing expense (26,044 ) 12,739 1,312 (11,993 ) Total compensation and benefits 8,113 76,580 12,362 97,055 Other expenses 17,326 31,333 5,753 54,412 Total Expenses 25,439 107,913 18,115 151,467 Other Income: Net interest expense (2,425 ) (3,003 ) (759 ) (6,187 ) Net gains from investment activities 5,904 75,340 — 81,244 Income (loss) from equity method investments 3,827 (1,949 ) 1,147 3,025 Other income (loss), net (43 ) (148 ) 4 (187 ) Total Other Income 7,263 70,240 392 77,895 Non-Controlling Interests — (2,697 ) — (2,697 ) Economic Income (Loss) $ (6,790 ) $ 112,752 $ (768 ) $ 105,194 Total Assets $ 1,415,186 $ 2,239,214 $ 202,536 $ 3,856,936 (1) Included in unrealized carried interest income (loss) from affiliates for the three months ended September 30, 2015 was a reversal of previously realized carried interest income due to the general partner obligation to return previously distributed carried interest income with respect to Fund V, APC, ANRP I, ACLF, COF II and certain SIAs within the credit segment of $1.4 million , $0.7 million , $3.5 million , $13.8 million , $0.1 million and $1.7 million , respectively. The general partner obligation is recognized based upon a hypothetical liquidation of the fund’s net assets as of the reporting date. The actual determination and any required payment of any such general partner obligation would not take place until the final disposition of a fund’s investments based on the contractual termination of the fund or as otherwise set forth in the respective limited partnership agreement of the fund. As of and for the Three Months Ended Private Equity Segment Credit Segment Real Estate Segment Total Reportable Segments Revenues: Advisory and transaction fees from affiliates, net $ 11,925 $ 58,593 $ 803 $ 71,321 Management fees from affiliates 76,848 139,645 11,200 227,693 Carried interest income from affiliates: Unrealized losses (449,506 ) (107,159 ) (3,606 ) (560,271 ) Realized gains 369,968 132,429 — 502,397 Total Revenues 9,235 223,508 8,397 241,140 Expenses: Compensation and benefits: Salary, bonus and benefits 23,792 60,422 7,610 91,823 Equity-based compensation 8,028 5,590 1,007 14,626 Profit sharing expense (19,270 ) 16,002 (3,270 ) (6,538 ) Total compensation and benefits 12,550 82,014 5,347 99,911 Other expenses 16,600 40,579 5,588 62,767 Total Expenses 29,150 122,593 10,935 162,678 Other Income: Net interest expense (2,634 ) (3,776 ) (666 ) (7,076 ) Net gains from investment activities — 116 — 116 Income from equity method investments 1,069 3,115 641 4,825 Other income, net (1,592 ) 111 (345 ) (1,826 ) Total Other Income (3,157 ) (434 ) (370 ) (3,961 ) Non-Controlling Interests — (3,174 ) — (3,174 ) Economic Income (Loss) $ (23,072 ) $ 97,307 $ (2,908 ) $ 71,327 Total Assets $ 2,462,241 $ 2,250,020 $ 203,889 $ 4,916,150 The following table reconciles the total segments to Apollo Global Management, LLC’s condensed consolidated financial statements as of and for the three months ended September 30, 2015 and 2014: As of and for the Three Months Ended As of and for the Three Months Ended Total Reportable Segments Consolidation Adjustments and Other Consolidated Total Reportable Segments Consolidation Adjustments and Other Consolidated Revenues $ 181,463 $ 11,805 (1) $ 193,268 $ 241,140 $ (20,005 ) (1) $ 221,135 Expenses 151,467 23,444 (2) 174,911 162,678 14,710 (2) 177,388 Other income (loss) 77,895 6,898 (3) 84,793 (3,961 ) (78,174 ) (3) (82,135 ) Non-Controlling Interests (2,697 ) (52,811 ) (55,508 ) (3,174 ) 73,148 69,974 Economic Income $ 105,194 (4) N/A N/A $ 71,327 (4) N/A N/A Total Assets $ 3,856,936 $ 961,114 (5) $ 4,818,050 $ 4,916,150 $ 19,181,455 (5) $ 24,097,605 (1) Represents advisory fees, management fees and carried interest income earned from consolidated VIEs which are eliminated in consolidation. Includes non-cash revenues related to equity awards granted by unconsolidated affiliates to employees of the Company. (2) Represents the addition of expenses of consolidated funds and the consolidated VIEs and transaction-related charges. Transaction-related charges includes equity-based compensation charges, the amortization of intangible assets, contingent consideration and certain other charges associated with acquisitions. (3) Results from the following: For the Three Months Ended September 30, 2015 2014 Net losses from investment activities $ (293 ) $ (103 ) Net gains from investment activities of consolidated variable interest entities 911 (98,848 ) Losses from equity method investments (1,004 ) (379 ) Other income, net 7,284 21,156 Total Consolidation Adjustments $ 6,898 $ (78,174 ) (4) The reconciliation of Economic Income to Net Income Attributable to Apollo Global Management, LLC reported in the condensed consolidated statements of operations consists of the following: For the Three Months Ended September 30, 2015 2014 Economic Income $ 105,194 $ 71,327 Income tax provision (6,591 ) (29,376 ) Net income attributable to Non-Controlling Interests in Apollo Operating Group (55,347 ) (42,955 ) Transaction-related charges and equity-based compensation (6) (2,205 ) 3,214 Net Income Attributable to Apollo Global Management, LLC $ 41,051 $ 2,210 (5) Represents the addition of assets of consolidated funds and the consolidated VIEs. (6) Transaction-related charges include equity-based compensation charges, the amortization of intangible assets, contingent consideration and certain other charges associated with acquisitions. Equity-based compensation adjustment includes non-cash revenues and expenses related to equity awards granted by unconsolidated affiliates to employees of the Company. The following table presents financial data for Apollo’s reportable segments as of and for the nine months ended September 30, 2015 and 2014 : As of and for the Nine Months Ended Private Equity Segment Credit Segment Real Estate Segment Total Reportable Segments Revenues: Advisory and transaction fees from affiliates, net $ 17,490 $ 13,913 $ 2,866 $ 34,269 Management fees from affiliates 220,742 421,790 36,212 678,744 Carried interest income from affiliates: — Unrealized gains (losses) (1) (265,147 ) (67,748 ) 3,974 (328,921 ) Realized gains 336,175 108,748 3,712 448,635 Total Revenues 309,260 476,703 46,764 832,727 Expenses: Compensation and benefits: Salary, bonus and benefits 80,662 162,618 28,065 271,345 Equity-based compensation 23,467 18,794 3,151 45,412 Profit sharing expense 60,796 26,853 4,062 91,711 Total compensation and benefits 164,925 208,265 35,278 408,468 Other expenses 48,973 95,514 17,242 161,729 Total Expenses 213,898 303,779 52,520 570,197 Other Income: Net interest expense (7,439 ) (10,107 ) (2,157 ) (19,703 ) Net gains from investment activities 5,904 100,387 — 106,291 Income (loss) from equity method investments 18,588 (2,654 ) 2,283 18,217 Other income, net 2,903 1,923 1,401 6,227 Total Other Income 19,956 89,549 1,527 111,032 Non-Controlling Interests — (8,766 ) — (8,766 ) Economic Income (Loss) $ 115,318 $ 253,707 $ (4,229 ) $ 364,796 Total Assets $ 1,415,186 $ 2,239,214 $ 202,536 $ 3,856,936 (1) Included in unrealized carried interest income (loss) from affiliates for the nine months ended September 30, 2015 was a reversal of previously realized carried interest income due to the general partner obligation to return previously distributed carried interest income with respect to Fund V, APC, ANRP, ACLF, COF II and certain SIAs within the credit segment of $10.5 million , $0.7 million , $3.5 million , $19.7 million , 0.1 million and $28.8 million , respectively. The general partner obligation is recognized based upon a hypothetical liquidation of the fund’s net assets as of the reporting date. The actual determination and any required payment of any such general partner obligation would not take place until the final disposition of a fund’s investments based on the contractual termination of the fund or as otherwise set forth in the respective limited partnership agreement of the fund. As of and for the Nine Months Ended Private Equity Segment Credit Segment Real Estate Segment Total Reportable Segments Revenues: Advisory and transaction fees from affiliates, net $ 54,739 $ 191,682 $ 1,752 $ 248,173 Management fees from affiliates 238,314 405,879 36,188 680,381 Carried interest income from affiliates: Unrealized losses (753,489 ) (67,883 ) (2,962 ) (824,334 ) Realized gains 964,911 256,414 3,998 1,225,323 Total Revenues 504,475 786,092 38,976 1,329,543 Expenses: Compensation and benefits: Salary, bonus and benefits 72,774 166,936 22,476 262,185 Equity-based compensation 39,434 39,374 7,537 86,346 Profit sharing expense 162,719 91,744 (1,055 ) 253,408 Total compensation and benefits 274,927 298,054 28,958 601,939 Other expenses 52,819 112,768 16,137 181,724 Total Expenses 327,746 410,822 45,095 783,663 Other Income: Net interest expense (5,359 ) (5,743 ) (1,373 ) (12,475 ) Net gains from investment activities — 8,949 — 8,949 Income from equity method investments 33,288 21,234 4,464 58,986 Other income, net 2,358 18,110 180 20,648 Total Other Income 30,287 42,550 3,271 76,108 Non-Controlling Interests — (9,554 ) — (9,554 ) Economic Income (Loss) $ 207,016 $ 408,266 $ (2,848 ) $ 612,434 Total Assets $ 2,462,241 $ 2,250,020 $ 203,889 $ 4,916,150 The following table reconciles the total segments to Apollo Global Management, LLC’s condensed consolidated financial statements as of and for the nine months ended September 30, 2015 and 2014: As of and for the Nine Months Ended As of and for the Nine Months Ended Total Reportable Segments Consolidation Adjustments and Other Consolidated Total Reportable Segments Consolidation Adjustments and Other Consolidated Revenues $ 832,727 $ 15,292 (1) $ 848,019 $ 1,329,543 $ (44,856 ) (1) $ 1,284,687 Expenses 570,197 73,249 (2) 643,446 783,663 62,213 (2) 845,876 Other income (loss) 111,032 31,723 (3) 142,755 76,108 226,225 (3) 302,333 Non-Controlling Interests (8,766 ) (188,959 ) (197,725 ) (9,554 ) (488,581 ) (498,135 ) Economic Income $ 364,796 (4) N/A N/A $ 612,434 (4) N/A N/A Total Assets $ 3,856,936 $ 961,114 (5) $ 4,818,050 $ 4,916,150 $ 19,181,455 (5) $ 24,097,605 (1) Represents advisory fees, management fees and carried interest income earned from consolidated VIEs which are eliminated in consolidation. Includes non-cash revenues related to equity awards granted by unconsolidated affiliates to employees of the Company. (2) Represents the addition of expenses of consolidated funds and the consolidated VIEs and transaction-related charges. Transaction-related charges includes equity-based compensation charges, the amortization of intangible assets, contingent consideration and certain other charges associated with acquisitions. (3) Results from the following: For the Nine Months Ended 2015 2014 Net gains from investment activities $ 204 $ 204,938 Net gain (loss) from investment activities of consolidated variable interest entities 8,039 (7,688 ) Loss from equity method investments (138 ) (931 ) Other income, net 23,618 29,906 Total Consolidation Adjustments $ 31,723 $ 226,225 (4) The reconciliation of Economic Income to Net Income Attributable to Apollo Global Management, LLC reported in the condensed consolidated statements of operations consists of the following: For the Nine Months Ended 2015 2014 Economic Income $ 364,796 $ 612,434 Income tax provision (21,197 ) (96,962 ) Net income attributable to Non-Controlling Interests in Apollo Operating Group (186,507 ) (350,049 ) Transaction-related charges and equity-based compensation (6) (28,686 ) (19,376 ) Net Income Attributable to Apollo Global Management, LLC $ 128,406 $ 146,047 (5) Represents the addition of assets of consolidated funds and the consolidated VIEs. (6) Transaction-related charges include equity-based compensation charges, the amortization of intangible assets, contingent consideration and certain other charges associated with acquisitions. Equity-based compensation adjustment includes non-cash revenues and expenses related to equity awards granted by unconsolidated affiliates to employees of the Company.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On October 9, 2015, the Company issued 518,849 Class A shares in settlement of vested RSUs. These issuances caused the Company’s ownership interest in the Apollo Operating Group to increase from 45.3% to 45.4% . On October 28, 2015 the Company declared a cash distribution of $0.35 per Class A share, which will be paid on November 30, 2015 to holders of record on November 20, 2015 . On November 3, 2015, the Company issued 1,523,155 Class A shares in settlement of vested RSUs. These issuances caused the Company’s ownership interest in the Apollo Operating Group to increase from 45.4% to 45.6% . On November 9, 2015, Apollo announced that it has mutually agreed with AR Capital, LLC ("AR Capital") to terminate the previously announced transaction pursuant to which Apollo would have purchased a controlling interest in a new entity, AR Global Investments, LLC, that would have owned a majority of the ongoing asset management business of AR Capital. In conjunction with the transaction termination, on November 9, 2015 AR Capital purchased Apollo's $25 million of preferred stock in RCS for $25.6 million . On November 9, 2015, Apollo also announced that it mutually agreed with RCS to amend the terms of the previously announced sale of RCS' wholesale distribution business and certain related entities to Apollo. Pursuant to the amended agreement, RCS will sell its wholesale distribution business, including Realty Capital Securities and Strategic Capital, to Apollo for $6 million , subject to certain purchase price adjustments. RCS' transfer agent and transaction management businesses and certain employees are not part of the amended transaction. The amended transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the first quarter of 2016, and with respect to Strategic Capital, may be consummated at a later date subject to satisfaction of applicable closing conditions.

SUMMARY OF SIGNIFICANT ACCOUN25

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements are prepared in accordance with U.S. GAAP for interim financial information and instructions to the Quarterly Report on Form 10-Q . The condensed consolidated financial statements and these notes are unaudited and exclude some of the disclosures required in annual financial statements. Management believes it has made all necessary adjustments (consisting only of normal recurring items) so that the condensed consolidated financial statements are presented fairly and that estimates made in preparing its condensed consolidated financial statements are reasonable and prudent. The operating results presented for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the entire year. The condensed consolidated financial statements include the accounts of the Company, its wholly-owned or majority-owned subsidiaries, the consolidated entities which are considered to be variable interest entities (“VIEs”) and for which the Company is considered the primary beneficiary, and certain entities which are not considered VIEs but which the Company controls through a majority voting interest. Intercompany accounts and transactions have been eliminated upon consolidation. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements of the Company for the year ended December 31, 2014 included in the 2014 Annual Report. Certain reclassifications, when applicable, have been made to the prior period’s condensed consolidated financial statements and notes to conform to the current period’s presentation and are disclosed accordingly.
Organization of the Company	Organization of the Company The Company was formed as a Delaware limited liability company on July 3, 2007 and completed a reorganization of its predecessor businesses on July 13, 2007 (the “2007 Reorganization”). The Company is managed and operated by its manager, AGM Management, LLC, which in turn is indirectly wholly-owned and controlled by Leon Black, Joshua Harris and Marc Rowan (the “Managing Partners”). As of September 30, 2015 , the Company owned, through four intermediate holding companies that include APO Corp., a Delaware corporation that is a domestic corporation for U.S. federal income tax purposes, APO Asset Co., LLC, a Delaware limited liability company that is a disregarded entity for U.S. federal income tax purposes, APO (FC), LLC, an Anguilla limited liability company that is treated as a corporation for U.S. federal income tax purposes and APO (FC II), LLC, an Anguilla limited liability company that is treated as a corporation for U.S. federal income tax purposes (collectively, the “Intermediate Holding Companies”), 45.3% of the economic interests of, and operated and controlled all of the businesses and affairs of, the Apollo Operating Group through its wholly-owned subsidiaries. AP Professional Holdings, L.P., a Cayman Islands exempted limited partnership (“Holdings”), is the entity through which the Managing Partners and certain of the Company’s other partners (the “Contributing Partners”) indirectly beneficially own interests in each of the partnerships that comprise the Apollo Operating Group (“AOG Units”). As of September 30, 2015 , Holdings owned the remaining 54.7% of the economic interests in the Apollo Operating Group. The Company consolidates the financial results of the Apollo Operating Group and its consolidated subsidiaries. Holdings’ ownership interest in the Apollo Operating Group is reflected as a Non-Controlling Interest in the accompanying condensed consolidated financial statements. Pursuant to an exchange agreement between Apollo, Holdings and the other parties thereto (as amended, the “Exchange Agreement”), the holders of the AOG Units (and certain permitted transferees thereof) may, upon notice and subject to the applicable vesting and minimum retained ownership requirements, transfer restrictions and other terms of the Exchange Agreement, exchange their AOG Units for the Company’s Class A shares on a one-for-one basis a limited number of times each year, subject to customary conversion rate adjustments for splits, distributions and reclassifications. Pursuant to the Exchange Agreement, a holder of AOG Units must simultaneously exchange one partnership unit in each of the Apollo Operating Group partnerships to effectuate an exchange for one Class A share. As a holder exchanges its AOG Units, the Company’s indirect interest in the Apollo Operating Group is correspondingly increased.
Principles of Consolidation	Principles of Consolidation —The types of entities with which Apollo is involved generally include subsidiaries (e.g., general partners and management companies related to the funds the Company manages), entities that have all the attributes of an investment company (e.g., funds) and securitization vehicles (e.g., collateralized loan obligations). Each of these entities is assessed for consolidation on a case by case basis depending on the specific facts and circumstances surrounding that entity. In February 2015, the Financial Accounting Standards Board (“FASB”) issued new consolidation guidance which changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The guidance is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period, and adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The Company has elected to adopt this new guidance using the modified retrospective method, which results in an effective date of adoption of January 1, 2015. Restatement of prior period results is not required. Amounts presented for the three and nine months ended September 30, 2015 in the condensed consolidated statements of operations have reflected the adoption of this accounting guidance as of January 1, 2015. Pursuant to the new consolidation guidance, the Company first evaluates whether it holds a variable interest in an entity. Fees that are customary and commensurate with the level of services provided, and where the Company doesn’t hold other economic interests in the entity that would absorb more than an insignificant amount of the expected losses or returns of the entity, would not be considered a variable interest. Apollo factors in all economic interests including proportionate interests through related parties, to determine if fees are considered a variable interest. As Apollo’s interests in many of these entities are solely through carried interests, performance fees, and/or insignificant indirect interests through related parties, Apollo is not considered to have a variable interest in many of these entities under the new guidance and no further consolidation analysis is performed. Prior to adoption of the new consolidation guidance, fees received by the Company for investment management services (e.g. carried interests and performance fees) were considered variable interests. For the remaining entities where the Company has determined that it does hold a variable interest, the Company performs an assessment to determine whether each of those entities qualify as a variable interest entity (“VIE”). An entity is considered a VIE if any one of the following conditions exist: (a) the total equity investment at risk is not sufficient to permit the legal entity to finance its activities without additional subordinated financial support, (b) the holders of equity investment at risk (as a group) lack either the direct or indirect ability through voting rights or similar rights to make decisions about a legal entity’s activities that have a significant effect on the success of the legal entity or the obligation to absorb the expected losses or right to receive the expected residual returns, or (c) the voting rights of some investors are disproportionate to their obligation to absorb the expected losses of the legal entity, their rights to receive the expected residual returns of the legal entity, or both and substantially all of the legal entity’s activities either involve or are conducted on behalf of an investor with disproportionately few voting rights. Under the new guidance, for limited partnerships and other similar entities, unaffiliated investors must be granted rights to either dissolve the fund or remove the general partner (“kick-out rights”) in order to not qualify as a VIE under condition (b) above. Entities that do not qualify as VIEs are generally assessed for consolidation as voting interest entities (“VOEs”) under the voting interest model. Under the voting interest model, Apollo consolidates those entities it controls through a majority voting interest. Apollo does not consolidate those VOEs in which substantive kick-out rights have been granted to the unaffiliated investors to either dissolve the fund or remove the general partner. As previously indicated, the consolidation assessment, including the determination as to whether an entity qualifies as a VIE depends on the facts and circumstances surrounding each entity and therefore certain of Apollo’s funds may qualify as VIEs whereas others may qualify as VOEs. The granting of substantive kick-out rights is a key consideration in determining whether a limited partnership or similar entity is a VIE and whether or not that entity should be consolidated. For example, when the unaffiliated holders of equity investment at risk of a fund (assumed to be limited partnerships or similar entities) with sufficient equity to permit the fund to finance its activities without additional subordinated financial support are not granted substantive kick-out rights the fund is determined to be a VIE. Alternatively, when the unaffiliated holders of equity investment at risk are granted substantive kick-out rights, the fund is generally determined to be a VOE. Prior to adoption of the new guidance, in certain cases where the Company held a substantive equity investment at risk in the fund, the fund may be determined to be a VOE even though substantive kick-out rights were not granted to the unaffiliated holders of equity investment at risk. Under the new guidance for limited partnerships or similar entities, unaffiliated investors must have kick-out rights to be considered a VOE. If the entity is determined to be a VIE under the conditions above, the Company assesses whether the entity should be consolidated by determining if Apollo is the primary beneficiary of the entity. Prior to adoption of the new consolidation guidance, this analysis differed depending on the type of VIE being assessed and which consolidation model was applied. For VIEs that qualified for the deferral of the then amended consolidation rules (i.e. investment company entities), it was determined that Apollo was determined to be the primary beneficiary when its interests, through holding interests directly or indirectly in the VIE or contractually through other variable interests (e.g., carried interest and performance fees), would be expected to absorb a majority of the VIE’s expected losses, receive a majority of the VIE’s expected residual returns, or both. In cases where two or more Apollo related parties held a variable interest in a VIE, and the aggregate variable interest held by those parties would, if held by a single party, identify that party as the primary beneficiary, then the Company was determined to be the primary beneficiary to the extent it was the party within the related party group that was most closely associated with the VIE. For VIEs that did not qualify for the deferral, such as Apollo’s CLOs which applied the then amended consolidation rules, the Company was determined to be the primary beneficiary if it held a controlling financial interest defined as possessing both (a) the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and (b) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. Under the new guidance, for all VIEs including investment company entities that previously met the deferral requirements, the Company is only determined to be the Primary Beneficiary when it has a controlling financial interest as defined above. Prior to adoption of the new guidance, when Apollo alone was not considered to have a controlling financial interest but Apollo and its related parties on an aggregate basis did have a controlling financial interest, an analysis regarding which party was most closely associated with the VIE was performed. Under the new guidance, determining which party is more closely associated with an entity is only performed when the related party group that has a controlling financial interest, shares power or is under common control. When the related party group holding a controlling financial interest is not under common control, then Apollo would only be deemed to be the primary beneficiary if substantially all the activities of the entity are performed on behalf of Apollo. Apollo continues to determine whether it is the primary beneficiary of a VIE at the time it becomes initially involved with the VIE and reconsiders that conclusion continuously. Investments and redemptions (either by Apollo, affiliates of Apollo or third parties) or amendments to the governing documents of the respective entity may affect an entity’s status as a VIE or the determination of the primary beneficiary. The assessment of whether an entity is a VIE and the determination of whether Apollo should consolidate such VIE requires judgments. Under both the previous and the new guidance, those judgments include, but are not limited to: (i) determining whether the total equity investment at risk is sufficient to permit the entity to finance its activities without additional subordinated financial support, (ii) evaluating whether the holders of equity investment at risk, as a group, can make decisions that have a significant effect on the success of the entity, (iii) determining whether the equity investors have proportionate voting rights to their obligations to absorb losses or rights to receive the expected residual returns from an entity, and (iv) evaluating the nature of the relationship and activities of the parties involved in determining which party within a related-party group (only for those related parties with shared power or under common control under the new guidance) is most closely associated with the VIE. Judgments are also made in determining whether a member in the equity group has a controlling financial interest including power to direct activities that most significantly impact the VIEs’ economic performance and rights to receive benefits or obligations to absorb losses that could be potentially significant to the VIE. This analysis includes interests through related parties. Prior to adoption, where the VIEs had qualified for the deferral, judgments were made in estimating cash flows to evaluate which member within the equity group absorbed a majority of the expected losses or residual returns of the VIE. Assets and liabilities of the consolidated VIEs are shown in separate sections within the condensed consolidated statements of financial condition as of September 30, 2015 and December 31, 2014 . For additional disclosures regarding VIEs, see note 4 . Intercompany transactions and balances, if any, have been eliminated in consolidation.
Equity Method Investments	Equity Method Investments —For investments in entities over which the Company exercises significant influence but which do not meet the requirements for consolidation, the Company uses the equity method of accounting, whereby the Company records its share of the underlying income or loss of such entities. The carrying amounts of equity method investments are reflected in investments in the condensed consolidated statements of financial condition. As the underlying entities that the Company manages and invests in are, for U.S. GAAP purposes, primarily investment companies which reflect their investments at estimated fair value, the carrying value of the Company’s equity method investments in such entities approximates fair value.
Non-Controlling Interests	Non-Controlling Interests —For entities that are consolidated, but not 100% owned, a portion of the income or loss and corresponding equity is allocated to owners other than Apollo. The aggregate of the income or loss and corresponding equity that is not owned by the Company is included in Non-Controlling Interests in the condensed consolidated financial statements. As of September 30, 2015 , the Non-Controlling Interests relating to Apollo Global Management, LLC primarily include the ownership interest in the Apollo Operating Group held by the Managing Partners and Contributing Partners through their limited partner interests in Holdings and other ownership interests in consolidated entities. Non-Controlling Interests also include limited partner interests of Apollo managed funds in certain consolidated VIEs. Non-Controlling Interests are presented as a separate component of shareholders’ equity on the Company’s condensed consolidated statements of financial condition. The primary components of Non-Controlling Interests are separately presented in the Company’s condensed consolidated statements of changes in shareholders’ equity to clearly distinguish the interest in the Apollo Operating Group and other ownership interests in the consolidated entities. Net income (loss) includes the net income (loss) attributable to the holders of Non-Controlling Interests on the Company’s condensed consolidated statements of operations. Profits and losses are allocated to Non-Controlling Interests in proportion to their relative ownership interests regardless of their basis.
Revenues	Revenues —Revenues are reported in three separate categories that include (i) advisory and transaction fees from affiliates, net, which relate to the investments of the funds and may include individual monitoring agreements the Company has with the portfolio companies and debt investment vehicles of the private equity funds and credit funds; (ii) management fees from affiliates, which are based on committed capital, invested capital, net asset value, gross assets or as otherwise defined in the respective agreements; and (iii) carried interest income (loss) from affiliates, which is normally based on the performance of the funds subject to preferred return.
Advisory and Transaction Fees from Affiliates, Net	Advisory and Transaction Fees from Affiliates, Net —Advisory and transaction fees, including directors’ fees, are recognized when the underlying services rendered are substantially completed in accordance with the terms of the transaction and advisory agreements. Additionally, during the normal course of business, the Company incurs certain costs related to certain transactions that are not consummated (“broken deal costs”). These costs (e.g., research costs, due diligence costs, professional fees, legal fees and other related items) are determined to be broken deal costs upon management’s decision to no longer pursue the transaction. In accordance with the related fund agreement, in the event the deal is deemed broken, all of the costs are reimbursed by the funds and then included as a component of the calculation of the Management Fee Offset described below. If a deal is successfully completed, Apollo is reimbursed by the fund or fund’s portfolio company for all costs incurred and no offset is generated. As the Company acts as an agent for the funds it manages, any transaction costs incurred and paid by the Company on behalf of the respective funds relating to successful or broken deals are presented net on the Company’s condensed consolidated statements of operations, and any receivable from the respective funds is presented in due from affiliates on the condensed consolidated statements of financial condition. Advisory and transaction fees from affiliates, net, also includes underwriting fees. Underwriting fees include gains, losses and fees, net of syndicate expenses, arising from securities offerings in which one of the Company’s subsidiaries participates in the underwriter syndicate. Underwriting fees are recognized at the time the underwriting is completed and the income is reasonably assured and are included in the condensed consolidated statements of operations. Underwriting fees recognized but not received are included in other assets on the condensed consolidated statements of financial condition. As a result of providing advisory services to certain private equity and credit portfolio companies, Apollo is generally entitled to receive fees for transactions related to the acquisition, in certain cases, and disposition of portfolio companies as well as ongoing monitoring of portfolio company operations and directors’ fees. The amounts due from portfolio companies are included in due from affiliates, which is discussed further in note 12 . Under the terms of the limited partnership agreements for certain funds, the management fee payable by the funds may be subject to a reduction based on a certain percentage of such advisory and transaction fees, net of applicable broken deal costs (“Management Fee Offset”). Advisory and transaction fees from affiliates are presented net of the Management Fee Offset in the condensed consolidated statements of operations.
Management Fees from Affiliates	Management Fees from Affiliates —Management fees for private equity, credit, and real estate funds are recognized in the period during which the related services are performed in accordance with the contractual terms of the related agreement, and are generally based upon (1) a percentage of the capital committed during the commitment period, and thereafter based on the remaining invested capital of unrealized investments, or (2) net asset value, gross assets or as otherwise defined in the respective agreements.
Carried Interest Income From Affiliates	Carried Interest Income from Affiliates —Apollo is entitled to an incentive return that can normally amount to as much as 20% of the total returns on a fund’s capital, depending upon performance. Performance-based fees are assessed as a percentage of the investment performance of the funds. The carried interest income from affiliates for any period is based upon an assumed liquidation of the fund’s net assets on the reporting date, and distribution of the net proceeds in accordance with the fund’s income allocation provisions. Carried interest receivable is presented separately in the condensed consolidated statements of financial condition. The carried interest income from affiliates may be subject to reversal to the extent that the carried interest income recorded exceeds the amount due to the general partner based on a fund’s cumulative investment returns. When applicable, the accrual for potential repayment of previously received carried interest income, which is a component of due to affiliates, represents all amounts previously distributed to the general partner that would need to be repaid to the Apollo funds if these funds were to be liquidated based on the current fair value of the underlying funds’ investments as of the reporting date. The actual general partner obligation, however, would not become payable or realized until the end of a fund’s life.
Deferred Revenue	Deferred Revenue —Apollo earns management fees subject to the Management Fee Offset. When advisory and transaction fees are earned by the management company, the Management Fee Offset reduces the management fee obligation of the fund. When the management company receives cash for advisory and transaction fees, a certain percentage of such advisory and/or transaction fees, as applicable, is allocated as a credit to reduce future management fees, otherwise payable by such fund. Such credit is classified as deferred revenue in the condensed consolidated statements of financial condition. A portion of any excess advisory and transaction fees may be required to be returned to the limited partners of certain funds upon such fund’s liquidation. As the management fees earned by the management company are presented on a gross basis, any Management Fee Offsets calculated are presented as a reduction to Advisory and Transaction Fees from Affiliates in the condensed consolidated statements of operations. Additionally, Apollo earns advisory fees pursuant to the terms of the advisory agreements with certain of the portfolio companies that are owned by the funds. When Apollo receives a payment from a portfolio company that exceeds the advisory fees earned at that point in time, the excess payment is classified as deferred revenue in the condensed consolidated statements of financial condition. The advisory agreements with the portfolio companies vary in duration and the associated fees are received monthly, quarterly or annually. Deferred revenue is reversed and recognized as revenue over the period that the agreed upon services are performed. Under the terms of the funds’ partnership agreements, Apollo is normally required to bear organizational expenses over a set dollar amount and placement fees or costs in connection with the offering and sale of interests in the funds to investors. The placement fees are payable to placement agents, who are independent third parties that assist in identifying potential investors, securing commitments to invest from such potential investors, preparing or revising offering and marketing materials, developing strategies for attempting to secure investments by potential investors and/or providing feedback and insight regarding issues and concerns of potential investors, when a limited partner either commits or funds a commitment to a fund. In certain instances the placement fees are paid over a period of time. Based on the management agreements with the funds, Apollo considers placement fees and organizational costs paid in determining if cash has been received in excess of the management fees earned. Placement fees and organizational costs are normally the obligation of Apollo but can be paid for by the funds. When these costs are paid by the fund, the resulting obligations are included within deferred revenue. The deferred revenue balance will also be reduced during future periods when management fees are earned but not paid.
Investments, at Fair Value	Investments, at Fair Value —The Company follows U.S. GAAP attributable to fair value measurements which, among other things, requires enhanced disclosures about investments that are measured and reported at fair value. Investments, at fair value represent investments of the consolidated funds, investments of the consolidated VIEs and certain financial instruments for which the fair value option has been elected. The unrealized gains and losses resulting from changes in the fair value are reflected as net gains (losses) from investment activities and net gains (losses) from investment activities of the consolidated VIEs in the condensed consolidated statements of operations. In accordance with U.S. GAAP, investments measured and reported at fair value are classified and disclosed in one of the following categories: Level I —Quoted prices are available in active markets for identical investments as of the reporting date. The type of investments included in Level I include listed equities and listed derivatives. As required by U.S. GAAP, the Company does not adjust the quoted price for these investments, even in situations where the Company holds a large position and the sale of such position would likely deviate from the quoted price. Level II —Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies. Investments that are generally included in this category include corporate bonds and loans, less liquid and restricted equity securities and certain over-the-counter derivatives where the fair value is based on observable inputs. These investments exhibit higher levels of liquid market observability as compared to Level III investments. The Company subjects broker quotes to various criteria in making the determination as to whether a particular investment would qualify for treatment as a Level II investment. These criteria include, but are not limited to, the number and quality of broker quotes, the standard deviation of obtained broker quotes, and the percentage deviation from independent pricing services. Level III —Pricing inputs are unobservable for the investment and includes situations where there is little observable market activity for the investment. The inputs into the determination of fair value may require significant management judgment or estimation. Investments that are included in this category generally include general and limited partner interests in corporate private equity and real estate funds, opportunistic credit funds, distressed debt and non-investment grade residual interests in securitizations and CDOs and CLOs where the fair value is based on observable inputs as well as unobservable inputs. When a security is valued based on broker quotes, the Company subjects those quotes to various criteria in making the determination as to whether a particular investment would qualify for treatment as a Level II or Level III investment. These criteria include, but are not limited to, the number and quality of the broker quotes, the standard deviations of the observed broker quotes, and the percentage deviation from independent pricing services. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the investment when the fair value is based on unobservable inputs. In cases where an investment or financial instrument that is measured and reported at fair value is transferred between levels of the fair value hierarchy, the Company accounts for the transfer as of the end of the reporting period. On a quarterly basis, Apollo utilizes valuation committees consisting of members from senior management, to review and approve the valuation results related to the investments of the funds it manages. For certain publicly traded vehicles, a review is performed by an independent board of directors. The Company also retains independent valuation firms to provide third-party valuation consulting services to Apollo, which consist of certain limited procedures that management identifies and requests them to perform. The limited procedures provided by the independent valuation firms assist management with validating their valuation results or determining fair value. The Company performs various back-testing procedures to validate their valuation approaches, including comparisons between expected and observed outcomes, forecast evaluations and variance analyses. However, because of the inherent uncertainty of valuation, those estimated values may differ significantly from the values that would have been used had a ready market for the investments existed, and the differences could be material.
Private Equity Investments	Private Equity Investments The value of liquid investments, where the primary market is an exchange (whether foreign or domestic) is determined using period end market prices. Such prices are generally based on the close price on the date of determination. Valuation approaches used to estimate the fair value of investments that are less liquid include the market approach and the income approach. The market approach provides an indication of fair value based on a comparison of the subject company to comparable publicly traded companies and transactions in the industry. The market approach is driven more by current market conditions, including actual trading levels of similar companies and, to the extent available, actual transaction data of similar companies. Judgment is required by management when assessing which companies are similar to the subject company being valued. Consideration may also be given to such factors as the Company’s historical and projected financial data, valuations given to comparable companies, the size and scope of the Company’s operations, the Company’s strengths, weaknesses, expectations relating to the market’s receptivity to an offering of the Company’s securities, applicable restrictions on transfer, industry and market information and assumptions, general economic and market conditions and other factors deemed relevant. The income approach provides an indication of fair value based on the present value of cash flows that a business or security is expected to generate in the future. The most widely used methodology in the income approach is a discounted cash flow method. Inherent in the discounted cash flow method are assumptions of expected results and a calculated discount rate.
Credit Investments	Credit Investments The majority of the investments in Apollo’s credit funds are valued based on quoted market prices and valuation models. Debt and equity securities that are not publicly traded or whose market prices are not readily available are valued at fair value utilizing recognized pricing services, market participants or other sources. When market quotations are not available, a model based approach is used to determine fair value. The credit funds also enter into foreign currency exchange contracts, total return swap contracts, credit default swap contracts, and other derivative contracts, which may include options, caps, collars and floors. Foreign currency exchange contracts are marked-to-market by recognizing the difference between the contract exchange rate and the current market rate as unrealized appreciation or depreciation. If securities are held at the end of this period, the changes in value are recorded in income as unrealized. Realized gains or losses are recognized when contracts are settled. Total return swap contracts and credit default swap contracts are recorded at fair value as an asset or liability with changes in fair value recorded as unrealized appreciation or depreciation. Realized gains or losses are recognized at the termination of the contract based on the difference between the close-out price of the total return or credit default swap contract and the original contract price. Forward contracts are valued based on market rates obtained from counterparties or prices obtained from recognized financial data service providers. When determining fair value pricing when no market value exists, the value attributed to an investment is based on the enterprise value at the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Valuation approaches used to estimate the fair value of illiquid credit investments also may use the income approach or market approach. The valuation approaches used consider, as applicable, market risks, credit risks, counterparty risks and foreign currency risks.
Real Estate Investments	Real Estate Investments The estimated fair value of commercial mortgage-backed securities (“CMBS”) in Apollo’s funds is determined by reference to market prices provided by certain dealers who make a market in these financial instruments. Broker quotes are only indicative of fair value and may not necessarily represent what the funds would receive in an actual trade for the applicable instrument. Additionally, the loans held-for-investment are stated at the principal amount outstanding, net of deferred loan fees and costs for certain investments. The Company evaluates its loans for possible impairment on a quarterly basis. For Apollo’s opportunistic and value added real estate funds, valuations of non-marketable underlying investments are determined using methods that include, but are not limited to (i) discounted cash flow estimates or comparable analysis prepared internally, (ii) third party appraisals or valuations by qualified real estate appraisers, and (iii) contractual sales value of investments/properties subject to bona fide purchase contracts. Methods (i) and (ii) also incorporate consideration of the use of the income, cost, or sales comparison approaches of estimating property values.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Except for the Company’s debt obligations (as described in note 9 ), Apollo’s financial instruments are recorded at fair value or at amounts whose carrying values approximate fair value. See “Investments, at Fair Value” above. While Apollo’s valuations of portfolio investments are based on assumptions that Apollo believes are reasonable under the circumstances, the actual realized gains or losses will depend on, among other factors, future operating results, the value of the assets and market conditions at the time of disposition, any related transaction costs and the timing and manner of sale, all of which may ultimately differ significantly from the assumptions on which the valuations were based. Financial instruments’ carrying values generally approximate fair value because of the short-term nature of those instruments or variable interest rates related to the borrowings. Fair Value Option —Apollo has elected the fair value option for the Company’s investment in Athene Holding Ltd. (“Athene Holding” and, together with its subsidiaries, “Athene”) and RCS Capital Corporation (“RCAP”) and for the assets and liabilities of the consolidated VIEs. Such election is irrevocable and is applied to financial instruments on an individual basis at initial recognition. Apollo has applied the fair value option for certain corporate loans, other investments and debt obligations held by the consolidated VIEs that otherwise would not have been carried at fair value. See notes 3 , 4 , and 5 for further disclosure on the investments in Athene Holding, RCAP and financial instruments of the consolidated VIEs for which the fair value option has been elected.
Financial Instruments held by Consolidated VIEs	Financial Instruments held by Consolidated VIEs The Company has adopted the measurement alternative included in the new collateralized financing entity (“CFE”) guidance, and has applied the amendments using a modified retrospective approach by recording a cumulative-effect adjustment to shareholders’ equity as of January 1, 2015. Amounts presented for the three and nine months ended September 30, 2015 in the condensed consolidated statements of operations have reflected the adoption of this accounting guidance as of January 1, 2015. Refer to the condensed consolidated statements of changes in shareholders’ equity. Pursuant to the new CFE guidance, the Company measures both the financial assets and financial liabilities of the consolidated collateralized loan obligations (“CLOs”) in its condensed consolidated financial statements using the more observable of the fair value of the financial assets and the fair value of the financial liabilities. The Company believes the fair value of the financial assets of the consolidated CLOs are more observable than the fair value of the financial liabilities of the consolidated CLOs. As a result, the financial assets of the consolidated CLOs are measured at fair value and the financial liabilities are measured in consolidation as: (i) the sum of the fair value of the financial assets and the carrying value of any non-financial assets that are incidental to the operations of the CLOs less (ii) the sum of the fair value of any beneficial interests retained by the reporting entity (other than those that represent compensation for services) and the Company’s carrying value of any beneficial interests that represent compensation for services. The resulting amount is allocated to the individual financial liabilities (other than the beneficial interest retained by the Company) using a reasonable and consistent methodology. Under the measurement alternative, the Company’s condensed consolidated net income reflects the Company’s own economic interests in the consolidated CLOs including (i) changes in the fair value of the beneficial interests retained by the Company and (ii) beneficial interests that represent compensation for collateral management services. Prior to the adoption of the new CFE guidance, the Company elected the fair value option for the assets and liabilities of the consolidated CLOs. The Company accounted for the difference between the fair value of the assets and the fair value of the liabilities of the consolidated CLOs in net gains from investment activities of consolidated variable interest entities in the condensed consolidated statements of operations. This amount was attributed to the Company and other beneficial interest holders based on each beneficial holder’s residual interest in the consolidated CLOs. The amount attributed to other beneficial interest holders was reflected in the condensed consolidated statements of operations in net income attributable to non-controlling interests and in the condensed consolidated statements of financial condition in appropriated partners’ capital within shareholders’ equity. The amount was recorded as appropriated partners’ capital since the other holders of the CLOs’ beneficial interests, not the Company, received the benefits or absorbed the losses associated with their proportionate share of the CLOs’ assets and liabilities. The consolidated VIEs hold investments that could be traded over-the-counter. Investments in securities that are traded on a securities exchange or comparable over-the-counter quotation systems are valued based on the last reported sale price at that date. If no sales of such investments are reported on such date, and in the case of over-the-counter securities or other investments for which the last sale date is not available, valuations are based on independent market quotations obtained from market participants, recognized pricing services or other sources deemed relevant, and the prices are based on the average of the “bid” and “ask” prices, or at ascertainable prices at the close of business on such day. Market quotations are generally based on valuation pricing models or market transactions of similar securities adjusted for security-specific factors such as relative capital structure priority and interest and yield risks, among other factors. When market quotations are not available, a model based approach is used to determine fair value. The consolidated VIEs also have debt obligations that are recorded at fair value. As previously noted, effective January 1, 2015 with the adoption of the new CFE guidance, the Company measures CLO debt obligations on the basis of the fair value of financial assets of the CLO. Prior to the adoption of the new CFE guidance, the primary valuation methodology used to determine fair value for debt obligations was market quotation. Prices were based on the average of the “bid” and “ask” prices. In the event that market quotations were not available, a model based approach was used. The model based approach used to estimate the fair values of debt obligations for which market quotations were not available was the discounted cash flow method, which includes consideration of the cash flows of the debt obligation based on projected quarterly interest payments and quarterly amortization. Debt obligations were discounted based on the appropriate yield curve given the loan’s respective maturity and credit rating. Management used its discretion and judgment in considering and appraising relevant factors for determining the valuations of the consolidated VIEs’ debt obligations. The adoption of the new accounting guidance resulted in a cumulative effect adjustment to appropriated partners’ capital of $3.5 million as of January 1, 2015, and an adjustment to previously reported net income of $4.0 million for the three months ended March 31, 2015, all of which was attributable to Non-Controlling Interests. The adoption resulted in no impact to net income attributable to Apollo Global Management, LLC.
Equity-Based Compensation	Compensation and Benefits Equity-Based Compensation —Equity-based awards granted to employees as compensation are measured based on the grant date fair value of the award. Equity-based awards that do not require future service (i.e., vested awards) are expensed immediately. Equity-based employee awards that require future service are expensed over the relevant service period. The Company estimates forfeitures for equity-based awards that are not expected to vest. Equity-based awards granted to non-employees for services provided to affiliates are remeasured to fair value at the end of each reporting period and expensed over the relevant service period.
Salaries Bonus and Benefits	Salaries, Bonus and Benefits —Salaries, bonus and benefits include base salaries, discretionary and non-discretionary bonuses, severance and employee benefits. Bonuses are generally accrued over the related service period. The Company sponsors a 401(k) savings plan whereby U.S.-based employees are entitled to participate in the plan based upon satisfying certain eligibility requirements. The Company may provide discretionary contributions from time to time. No contributions relating to this plan were made by the Company for the three and nine months ended September 30, 2015 and 2014 .
Profit Sharing Expense	Profit Sharing Expense —Profit sharing expense primarily consists of a portion of carried interest recognized in one or more funds allocated to employees and former employees. Profit sharing expense is recognized on an accrued basis as the related carried interest income is earned. Profit sharing expense can be reversed during periods when there is a decline in carried interest income that was previously recognized. Additionally, profit sharing amounts previously distributed may be subject to clawback from employees, former employees and Contributing Partners. Changes in the fair value of the contingent consideration obligations that were recognized in connection with certain Apollo acquisitions are reflected in the Company’s condensed consolidated statements of operations as profit sharing expense. The Company has a performance based incentive arrangement for certain Apollo partners and employees designed to more closely align compensation on an annual basis with the overall realized performance of the Company. This arrangement enables certain partners and employees to earn discretionary compensation based on carried interest realizations earned by the Company in a given year, which amounts are reflected in profit sharing expense in the accompanying condensed consolidated financial statements.
Other Income (Loss)	Other Income (Loss) Net Gains (Losses) from Investment Activities —Net gains (losses) from investment activities include both realized gains and losses and the change in unrealized gains and losses in the Company’s investment portfolio between the opening reporting date and the closing reporting date. The condensed consolidated financial statements include the net realized and unrealized gains (losses) of investments, at fair value. For the year ending December 31, 2014, for the Company’s investments held by AAA (see notes 3 and 5), a portion of the net gains (losses) from investment activities are attributable to Non-Controlling Interests in the condensed consolidated statements of operations. Net Gains (Losses) from Investment Activities of Consolidated Variable Interest Entities —Changes in the fair value of the consolidated VIEs’ assets and liabilities and related interest, dividend and other income and expenses subsequent to consolidation are presented within net gains (losses) from investment activities of consolidated variable interest entities and are attributable to Non-Controlling Interests in the condensed consolidated statements of operations. Other Income (Loss), Net —Other income (loss), net includes the recognition of gains (losses) arising from the remeasurement of foreign currency denominated assets and liabilities of foreign subsidiaries, reversal of a portion of the tax receivable agreement liability (see note 12 ), gains (losses) arising from the remeasurement of derivative instruments associated with fees from certain of the Company’s affiliates, gains arising from extinguishment of contingent consideration obligations and other miscellaneous non-operating income and expenses.
Net Income (Loss) Per Class A Share	Net Income (Loss) Per Class A Share —U.S. GAAP requires use of the two-class method of computing earnings per share for all periods presented for each class of common stock and participating security as if all earnings for the period had been distributed. Under the two-class method, during periods of net income, the net income is first reduced for distributions declared on all classes of securities to arrive at undistributed earnings. During periods of net losses, the net loss is reduced for distributions declared on participating securities only if the security has the right to participate in the earnings of the entity and an objectively determinable contractual obligation to share in net losses of the entity. Participating securities include vested and unvested RSUs that participate in distributions, as well as unvested restricted shares. Whether during a period of net income or net loss, under the two-class method the remaining earnings are allocated to Class A shares and participating securities to the extent that each security shares in earnings as if all of the earnings for the period had been distributed. Earnings or losses allocated to each class of security are then divided by the applicable number of shares to arrive at basic earnings per share. For the diluted earnings, the denominator includes all outstanding Class A shares and includes the number of additional Class A shares that would have been outstanding if the dilutive potential Class A shares had been issued. The numerator is adjusted for any changes in income or loss that would result from the issuance of these potential Class A shares.
Use Of Estimates	Use of Estimates— The preparation of the condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the condensed consolidated financial statements, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Apollo’s most significant estimates include goodwill, intangible assets, income taxes, carried interest income from affiliates, contingent consideration obligations related to acquisitions, non-cash compensation, and fair value of investments and debt. Actual results could differ materially from those estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In April 2014, the FASB issued guidance to improve the definition of discontinued operations and to enhance convergence between the FASB’s and International Accounting Standard Board’s (IASB) reporting requirements for discontinued operations. The new definition of discontinued operations limits discontinued operations reporting to disposals of components of an entity that represent strategic shifts that have (or will have) a major effect on an entity’s operations and financial results. The new guidance affects entities that have either of the following: (1) a component of an entity that either is disposed of or meets the criteria under current guidance to be classified as held for sale or (2) a business or nonprofit activity that, on acquisition, meets the criteria under current guidance to be classified as held for sale. The guidance is effective for all disposals (or classifications as held for sale) of components of an entity and all businesses or nonprofit activities that, on acquisition, are classified as held for sale that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years. The adoption of this guidance did not have a material impact on the Company’s condensed consolidated financial statements. In May 2014, the FASB issued guidance to establish a comprehensive and converged standard on revenue recognition to enable financial statement users to better understand and consistently analyze an entity’s revenue across industries, transactions, and geographies. The core principle of the new guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation. The new guidance also specifies the accounting for certain costs to obtain or fulfill a contract with a customer. The new guidance requires improved disclosures to help users of financial statements better understand the nature, amount, timing, and uncertainty of revenue that is recognized. Qualitative and quantitative information is required to be disclosed about: (1) contracts with customers, (2) significant judgments and changes in judgments, and (3) assets recognized from costs to obtain or fulfill a contract. The new guidance will apply to all entities. In July 2015, the FASB voted to approve a one-year deferral of the effective date of the new revenue guidance. In August 2015, FASB issued its final standard formally amending the effective date. The amended guidance defers the effective date of the new guidance to interim reporting periods within annual reporting periods beginning after December 15, 2017. Public business entities are permitted to apply the new guidance early, but not before the original public business entity effective date (i.e., interim periods within annual periods beginning after December 15, 2016). The Company is in the process of evaluating the impact that this guidance will have on its condensed consolidated financial statements, including the timing of the recognition of carried interest income. In June 2014, the FASB issued guidance to resolve diversity in practice in the accounting for share-based payments where the terms of an award provide that a performance target could be achieved after the requisite service period. The new guidance requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. Accordingly, the performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that ultimately vest. The requisite service period ends when the employee can cease rendering service and still be eligible to vest in the award if the performance target is achieved. The new guidance applies to all reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. The guidance is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2015. Early application is permitted. This guidance is not expected to have an impact on the condensed consolidated financial statements of the Company. In August 2014, the FASB issued guidance to eliminate diversity in practice in the accounting for measurement differences in both the initial consolidation and subsequent measurement of the financial assets and the financial liabilities of a collateralized financing entity. A reporting entity that consolidates a collateralized financing entity within the scope of the new guidance may elect to measure the financial assets and the financial liabilities of that collateralized financing entity using either the measurement alternative included in the new guidance or the existing guidance on fair value measurement. When the measurement alternative is not elected for a consolidated collateralized financing entity within the scope of the new guidance, the new guidance clarifies that (1) the fair value of the financial assets and the fair value of the financial liabilities of the consolidated collateralized financing entity should be measured using the requirements of the existing guidance on fair value measurement and (2) any differences in the fair value of the financial assets and the fair value of the financial liabilities of that consolidated collateralized financing entity should be reflected in earnings and attributed to the reporting entity in the consolidated statement of income (loss). When a reporting entity elects the measurement alternative included in the new guidance for a collateralized financing entity, the reporting entity should measure both the financial assets and the financial liabilities of that collateralized financing entity in its consolidated financial statements using the more observable of the fair value of the financial assets and the fair value of the financial liabilities. The guidance applies to a reporting entity that is required to consolidate a collateralized financing entity under the existing variable interest entity guidance when (1) the reporting entity measures all of the financial assets and the financial liabilities of that consolidated collateralized financing entity at fair value in the consolidated financial statements based on other guidance and (2) the changes in the fair values of those financial assets and financial liabilities are reflected in earnings. The guidance is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2015. Early adoption is permitted. As noted earlier, the Company adopted this guidance on a modified retrospective basis by recording a cumulative-effect adjustment to shareholders’ equity as of January 1, 2015. In August 2014, the FASB issued guidance regarding management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. The new guidance requires that management evaluate each annual and interim reporting period whether conditions exist that give rise to substantial doubt about the entity’s ability to continue as a going concern within one year from the financial statement issuance date, and if so, provide related disclosures. Disclosures are only required if conditions give rise to substantial doubt, whether or not the substantial doubt is alleviated by management’s plans. No disclosures are required specific to going concern uncertainties if an assessment of the conditions does not give rise to substantial doubt. Substantial doubt exists when conditions and events, considered in the aggregate, indicate that it is probable that a company will be unable to meet its obligations as they become due within one year after the financial statement issuance date. If substantial doubt is alleviated as a result of the consideration of management’s plans, a company should disclose information that enables users of financial statements to understand all of the following (or refer to similar information disclosed elsewhere in the footnotes): (1) principal conditions that initially give rise to substantial doubt, (2) management’s evaluation of the significance of those conditions in relation to the company’s ability to meet its obligations, and (3) management’s plans that alleviated substantial doubt. If substantial doubt is not alleviated after considering management’s plans, disclosures should enable investors to understand the underlying conditions, and include the following: (1) a statement indicating that there is substantial doubt about the company’s ability to continue as a going concern within one year after the issuance date, (2) the principal conditions that give rise to substantial doubt, (3) management’s evaluation of the significance of those conditions in relation to the company’s ability to meet its obligations, and (4) management plans that are intended to mitigate the adverse conditions. The new guidance applies to all companies. The guidance is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2016. Early adoption is permitted. This guidance is not expected to have an impact on the condensed consolidated financial statements of the Company. In November 2014, the FASB issued guidance to clarify how current U.S. GAAP should be interpreted in evaluating the economic characteristics and risks of a host contract in a hybrid financial instrument that is issued in the form of a share. Specifically, the new guidance clarifies that an entity should consider all relevant terms and features-including the embedded derivative feature being evaluated for bifurcation when evaluating the nature of the host contract. Further, the new guidance clarifies that no single term or feature would necessarily determine the economic characteristics and risks of the host contract. Rather, the nature of the host contract depends upon the economic characteristics and risks of the entire hybrid financial instrument. The new guidance applies to all entities that are issuers of, or investors in, hybrid financial instruments that are issued in the form of a share. The guidance is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2015. Early adoption is permitted. The Company is in the process of evaluating the impact that this guidance will have on its condensed consolidated financial statements. I n January 2015, the FASB issued guidance to simplify income statement presentation by eliminating the concept of extraordinary items. Existing guidance requires that an entity separately classify, present, and disclose extraordinary events and transactions. If an event or transaction meets the criteria for extraordinary classification, an entity is required to segregate the extraordinary item from the results of ordinary operations and show the item separately in the income statement, net of tax, after income from continuing operations. The entity is also required to disclose applicable income taxes and either present or disclose earnings-per-share data applicable to the extraordinary item. The new guidance eliminates the requirement for reporting entities to consider whether an underlying event or transaction is extraordinary. However, the presentation and disclosure requirements under existing guidance for items that are unusual in nature or occur infrequently will be retained and will be expanded to include items that are both unusual in nature and infrequently occurring. Under the new guidance, items that are both unusual in nature and infrequently occurring should be presented within income from continuing operations or disclosed in the notes to the financial statements. The guidance is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2015. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. This guidance is not expected to have an impact on the condensed consolidated financial statements of the Company. In February 2015, the FASB issued new consolidation guidance which changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. Existing guidance includes different requirements for performing a consolidation analysis if, among other factors, the entity under evaluation is any one of the following: (1) a legal entity that qualifies for the indefinite deferral under the amended consolidation rules, (2) a legal entity that is within the scope of the amended consolidation rules, or (3) a limited partnership or similar entity that is considered a voting interest entity. Under the new guidance, all reporting entities are within the scope of the new standard, including limited partnerships and similar legal entities, unless a scope exception applies. The presumption that a general partner controls a limited partnership has been eliminated. In addition, fees paid to decision makers that meet certain conditions (e.g., are both customary and commensurate with the level of effort required for the services provided) no longer cause decision makers to consolidate VIEs in certain instances. The new guidance places more emphasis in the consolidation evaluation on variable interests other than the fee arrangements such as principal investment risk (for example, debt or equity interests), guarantees of the value of the assets or liabilities of the VIE, written put options on the assets of the VIE, or similar obligations, including some liquidity commitments or agreements (explicit or implicit). Additionally, the new guidance reduces the extent to which related party arrangements cause an entity to be considered a primary beneficiary. The guidance is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period, and adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. A reporting entity may apply the new guidance using either a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption or by applying the amendments retrospectively. As noted in the “Summary of Significant Accounting Policies” above the Company has adopted this guidance on a modified retrospective basis. This guidance has resulted in the deconsolidation of certain investment vehicles the Company manages, as further described in note 4 . In April 2015, the FASB issued guidance to simplify the presentation of debt issuance costs. The guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability (i.e., versus being capitalized as an asset and amortized as required under existing guidance), consistent with debt discounts. The recognition and measurement guidance for debt issuance costs is not affected by the new guidance (i.e., debt issuance costs will continue to be amortized as an increase to interest expense). The guidance is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2015. Early adoption is permitted for financial statements that have not been previously issued. An entity should apply the new guidance on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. The Company is in the process of evaluating the impact that this guidance will have on its condensed consolidated financial statements. In May 2015, the FASB issued guidance to eliminate diversity in practice related to how certain investments measured at net asset value are categorized within the fair value hierarchy. The guidance removes the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. A reporting entity should continue to disclose information on investments for which fair value is measured at net asset value (or its equivalent) as a practical expedient to help users understand the nature and risks of the investments and whether the investments, if sold, are probable of being sold at amounts different from net asset value. The guidance is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2015. Pursuant to the guidance, a reporting entity should apply the amendments retrospectively to all periods presented. The retrospective approach requires that an investment for which fair value is measured using the net asset value per share practical expedient be removed from the fair value hierarchy in all periods presented in an entity’s financial statements. Earlier application is permitted. The Company is in the process of evaluating the impact that this guidance will have on its condensed consolidated financial statements. In September 2015, the FASB issued guidance to simplify the accounting for adjustments made to the provisional amounts recognized in a business combination. The guidance requires that an acquirer recognize adjustments to provisional amounts that are identified during the one year period following the acquisition date (i.e., measurement period) in the reporting period in which the adjustment amounts are determined. The guidance further requires that the acquirer record, in the same period’s financial statements, the effect on earnings, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The guidance also requires an acquirer to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. The guidance applies to all entities that (i) have reported provisional amounts for items in a business combination for which the accounting is incomplete by the end of the reporting period in which the combination occurs, and (ii) during the measurement period have an adjustment to provisional amounts recognized. The guidance is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2015. The guidance should be applied prospectively to adjustments to provisional amounts that occur after the effective date of the guidance with earlier application permitted for financial statements that have not been issued. The Company is in the process of evaluating the impact that this guidance will have on its condensed consolidated financial statements.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
Schedule of Investments [Abstract]
Summary of investments	The following table represents Apollo’s investments: As of As of Investments, at fair value $ 547,397 $ 2,499,128 Equity method investments 550,222 380,878 Total Investments $ 1,097,619 $ 2,880,006
Net Gains from Investment Activities	The following table presents the realized and net change in unrealized gains (losses) on investments, at fair value for the three and nine months ended September 30, 2015 and 2014 : For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Realized gains (losses) on sales of investments $ 33 $ (12,802 ) $ 187 $ (12,649 ) Net change in unrealized gains due to changes in fair values 80,917 12,814 107,305 226,535 Net Gains from Investment Activities $ 80,950 $ 12 $ 107,492 $ 213,886
Summary of equity method investments	As such, the following table presents summarized income statement information for Athene Holding for the three and nine months ended September 30, 2015 and 2014: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 (1) 2014 2015 (1) 2014 in millions Income Statement Information Revenues $ 562 $ 841 $ 2,483 $ 2,941 Expenses 441 719 1,982 2,651 Income before income tax provision 121 122 501 290 Income tax provision (benefit) 19 (15 ) 46 17 Net income 102 137 455 273 Net income (loss) attributable to Non-controlling Interests 3 (1 ) 1 — Net income available to Athene common shareholders $ 99 $ 138 $ 454 $ 273 (1) Three and nine months ended September 30, 2015 data includes information from the three months and trailing nine months ended June 30, 2015, which represents the latest available financial information. Equity method investments as of September 30, 2015 and December 31, 2014 consisted of the following: Equity Held as of September 30, 2015 % of Ownership December 31, 2014 % of Ownership Private Equity Funds: AP Alternative Assets, L.P. ("AAA") (6) $ 64,222 2.370 % $ — — % AAA Investments, L.P. (“AAA Investments”) 1,633 0.057 1,293 0.057 Apollo Investment Fund IV, L.P. (“Fund IV”) 8 0.030 8 0.022 Apollo Investment Fund V, L.P. (“Fund V”) 59 0.043 68 0.031 Apollo Investment Fund VI, L.P. (“Fund VI”) 2,571 0.119 6,173 0.114 Apollo Investment Fund VII, L.P. (“Fund VII”) 62,867 1.229 78,286 1.223 Apollo Investment Fund VIII, L.P. (“Fund VIII”) 86,715 2.205 33,099 2.241 Apollo Natural Resources Partners, L.P. (“ANRP I”) 6,470 0.830 5,608 0.807 Apollo Natural Resources Partners II, L.P. (“ANRP II”) 2,804 2.354 — — AION Capital Partners Limited (“AION”) 16,559 5.958 14,707 6.113 Apollo Asia Private Credit Fund, L.P. (“APC”) 48 0.044 47 0.044 VC Holdings, L.P. Series A (“Vantium A/B”) 15 6.450 12 6.450 VC Holdings, L.P. Series C (“Vantium C”) 63 2.071 48 2.071 VC Holdings, L.P. Series D (“Vantium D”) 170 6.345 180 6.345 Total Private Equity Funds (5) 244,204 139,529 Credit Funds: Apollo Special Opportunities Managed Account, L.P. (“SOMA”) 6,344 0.816 6,997 0.841 Apollo Value Strategic Fund, L.P. (“VIF”) 103 0.087 146 0.067 Apollo Strategic Value Fund, L.P. (“SVF”) 8 0.035 10 0.033 Apollo Credit Liquidity Fund, L.P. (“ACLF”) 2,124 3.810 4,128 2.771 Apollo Credit Opportunity Fund I, L.P. (“COF I”) 1,627 1.929 2,298 1.870 Apollo Credit Opportunity Fund II, L.P. (“COF II”) 1,957 1.502 2,249 1.497 Apollo Credit Opportunity Fund III, L.P. (“COF III”) 18,498 1.039 13,102 1.061 Apollo European Principal Finance Fund, L.P. (“EPF I”) 5,087 1.371 7,647 1.449 Apollo European Principal Finance Fund II, L.P. (“EPF II”) 43,788 1.760 44,523 1.760 Apollo Investment Europe II, L.P. (“AIE II”) 2,101 4.491 3,203 1.937 Apollo Europe Co-Investors III (D), LLC (“AIE III”) 2,952 2.914 1,540 2.914 Apollo Palmetto Strategic Partnership, L.P. (“Palmetto”) 15,066 1.186 14,049 1.186 Apollo Senior Floating Rate Fund Inc. (“AFT”) 81 0.034 86 0.031 Apollo Residential Mortgage, Inc. (“AMTG”) (3) 4,150 (1) 0.692 (1) 4,263 (2) 0.593 (2) Apollo European Credit, L.P. (“AEC”) 2,357 1.081 2,443 1.081 Apollo European Strategic Investments, L.P. (“AESI”) 2,356 0.990 3,834 0.990 Apollo European Strategic Investments II, L.P. (AESI II”) 818 0.990 123 0.990 Apollo Centre Street Partnership, L.P. (“ACSP”) 11,919 2.485 11,474 2.439 Apollo Investment Corporation (“AINV”) (4) 63,607 (1) 3.294 (1) 64,382 (2) 3.057 (2) Apollo SK Strategic Investments, L.P. (“SK”) 1,490 0.990 1,693 0.990 Apollo SPN Investments I, L.P. 5,515 0.536 5,500 0.720 CION Investment Corporation (“CION”) 1,000 0.120 1,000 0.206 Apollo Tactical Income Fund Inc. (“AIF”) 76 0.030 84 0.032 Apollo Franklin Partnership, L.P. (“Franklin Fund”) 8,757 9.091 9,647 9.091 Apollo Zeus Strategic Investments, L.P. (“Zeus”) 7,498 3.398 6,404 3.392 Apollo Lincoln Fixed Income Fund, L.P. 1,957 1.014 1,398 0.993 Apollo Lincoln Private Credit Fund, L.P. 275 0.994 194 0.990 Apollo Structured Credit Recovery Master Fund III, L.P. 1,880 0.293 315 0.126 Apollo Total Return Fund L.P. 163 0.039 163 0.046 Apollo Credit Short Opportunities Fund L.P. 20 0.016 19 0.027 MidCap FinCo Limited (“MidCap”) 50,223 5.421 — — Apollo Energy Opportunity Fund, L.P. (“AEOF”) 7,621 2.439 — — Apollo A-N Credit Fund, L.P. 4,445 1.970 — — Apollo Tactical Value SPN Investments, L.P. 4 0.006 — — Apollo Union Street Partners, L.P. 227 2.000 — — Total Credit Funds (5) 276,094 212,914 Real Estate: ARI (3) 14,046 (1) 1.199 (1) 13,989 (2) 1.495 (2) AGRE U.S. Real Estate Fund, L.P. 10,376 5.000 10,519 1.845 Apollo U.S. Real Estate Fund II, L.P. 1,303 1.960 — — CPI Capital Partners North America, L.P. 97 0.411 137 0.408 CPI Capital Partners Europe, L.P. 5 0.001 5 0.001 CPI Capital Partners Asia Pacific, L.P. 91 0.039 96 0.039 Apollo GSS Holding (Cayman), L.P. 3,546 4.750 3,564 4.750 BEA/AGRE China Real Estate Fund, L.P. 90 1.031 87 1.031 Apollo-IC, L.P. (Shanghai Village) 359 2.960 — — AGRE Cobb West Investor L.P. 11 0.407 — — Other — — 38 NM Total Real Estate Funds (5) 29,924 28,435 Total $ 550,222 $ 380,878 (1) Amounts are as of June 30, 2015. (2) Amounts are as of September 30, 2014. (3) Investment value includes the fair value of RSUs granted to the Company as of the grant date. These amounts are not considered in the percentage of ownership until the RSUs are vested and issued to the Company, at which point the RSUs are converted to common stock and delivered to the Company. (4) The value of the Company’s investment in AINV was $42,731 and $53,693 based on the quoted market price as of September 30, 2015 and December 31, 2014 , respectively. (5) Certain funds invest across multiple segments. The presentation in the table above is based on the classification of the majority of such funds’ investments. (6) AAA has been deconsolidated effective January 1, 2015 as a result of the Company’s adoption of new accounting guidance, as described in note 2 . As a result, the Company’s investment in AAA no longer eliminates in consolidation.

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net Gains (Losses) from Investment Activities of Consolidated VIEs	The following table presents net gains (losses) from investment activities of the consolidated VIEs for the three and nine months ended September 30, 2015 and 2014 , respectively: For the Three Months Ended For the Nine Months Ended 2015 2014 2015 2014 Net unrealized gains (losses) from investment activities $ (2,198 ) $ (171,640 ) $ 4,045 $ (162,102 ) Net realized gains from investment activities 640 21,170 4,471 37,992 Net gains (losses) from investment activities (1,558 ) (150,470 ) 8,516 (124,110 ) Net unrealized gains (losses) from debt 9,727 (70,917 ) 2,798 (77,445 ) Net realized gains from debt — 101,388 — 101,745 Net gains from debt 9,727 30,471 2,798 24,300 Interest and other income 9,994 163,747 28,042 481,883 Interest and other expenses (17,252 ) (142,596 ) (31,317 ) (389,761 ) Net gains (losses) from Investment Activities of Consolidated Variable Interest Entities $ 911 $ (98,848 ) $ 8,039 $ (7,688 )
Principal Provisions of Debt	The following table summarizes the principal provisions of the debt of the consolidated VIEs as of September 30, 2015 and December 31, 2014 : As of As of Principal Outstanding Weighted Average Interest Rate Weighted Average Remaining Maturity in Years Principal Outstanding Weighted Average Interest Rate Weighted Average Remaining Maturity in Years Senior Secured Notes (2)(3) $ 757,405 2.20 % 12.3 $ 13,459,387 1.60 % 7.8 Subordinated Notes (2)(3) 84,785 N/A (1) 15.4 1,183,834 N/A (1) 9.0 Total $ 842,190 $ 14,643,221 (1) The subordinated notes do not have contractual interest rates, but instead receive distributions from the excess cash flows of the VIEs. (2) The fair value of Senior Secured Notes and Subordinated Notes as of September 30, 2015 and December 31, 2014 was $825.3 million and $14,123.1 million , respectively. (3) The debt at fair value of the consolidated VIEs is collateralized by assets of the consolidated VIEs and assets of one vehicle may not be used to satisfy the liabilities of another vehicle. As of September 30, 2015 and December 31, 2014 , the fair value of the consolidated VIE assets was $1,024.7 million and $17,070.8 million , respectively. This collateral consisted of cash and cash equivalents, investments, at fair value, and other assets.
Carrying Amounts of Assets and Liabilities	The following tables present the carrying amounts of the assets and liabilities of the VIEs for which Apollo has concluded that it holds a significant variable interest, but that it is not the primary beneficiary as of September 30, 2015 and December 31, 2014 . In addition, the tables present the maximum exposure to losses relating to these VIEs. As noted earlier, as a result of the adoption of the FASB’s new consolidation guidance, the Company is no longer considered to have a variable interest in many of the entities that it manages where its sole interest in an entity is either through carried interest, performance fees or other indirect interests which are not considered to absorb more than an insignificant amount of expected losses or returns of the entity. As of Total Assets Total Liabilities Apollo Exposure Total $ 4,714,739 (1) $ 1,077,515 (2) $ 175,967 (3) (1) Consists of $152.9 million in cash, $4,530.4 million in investments and $31.4 million in receivables. (2) Represents $1,077.5 million in debt and other payables. (3) Represents Apollo’s direct equity method investment in those entities in which Apollo holds a significant variable interest. Additionally, cumulative carried interest income is subject to reversal in the event of future losses. The maximum amount of future reversal of carried interest income from all of Apollo’s funds, including those entities in which Apollo holds a significant variable interest, is $2,526.5 million as of September 30, 2015 as discussed in note 13 . As of Total Assets Total Liabilities Apollo Exposure Total $ 11,676,038 (1) $ 729,515 (2) $ 30,752 (3) (1) Consists of $794.5 million in cash, $10,456.0 million in investments and $425.6 million in receivables. (2) Represents $362.0 million in debt and other payables, $359.4 million in securities sold, not purchased, and $8.2 million in capital withdrawals payable. (3) Represents Apollo’s direct equity method investment in those entities in which Apollo holds a significant variable interest. Additionally, cumulative carried interest income is subject to reversal in the event of future losses. The maximum amount of future reversal of carried interest income from all of Apollo’s funds, including those entities in which Apollo holds a significant variable interest, was $2,892.8 million as of December 31, 2014 .

FAIR VALUE MEASUREMENTS OF FI28

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Valuation of the Financial Assets and Liabilities by the Fair Value Hierarchy	The following table summarizes the transfers of financial assets from Level I into Level II for positions that existed as of the three and nine months ended September 30, 2015 and 2014 , respectively: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Transfers from Level I into Level II $ — $ — $ — $ 4,084 The following tables summarize the valuation of the Company’s financial assets and liabilities for which the fair value option has been elected by the fair value hierarchy as of September 30, 2015 and December 31, 2014 , respectively: As of September 30, 2015 Level I (5) Level II (5) Level III Total Cost Investments at Fair Value Assets Investments, at fair value: Investments held by Apollo Senior Loan Fund $ — $ 22,565 $ 3,421 $ 25,986 $ 26,172 Other Investments — — 469 469 621 Investment in Athene Holding (1) — — 495,942 495,942 387,526 Investment in RCAP — — 25,000 25,000 25,000 Total investments at fair value — 22,565 524,832 547,397 439,319 Investments of VIEs, at fair value (3) — 815,644 128,306 943,950 Total Assets $ — $ 838,209 $ 653,138 $ 1,491,347 Liabilities Liabilities of VIEs, at fair value (3)(4) $ — $ 825,322 $ 11,746 $ 837,068 Contingent Consideration Obligations (2) — — 81,606 81,606 Total Liabilities $ — $ 825,322 $ 93,352 $ 918,674 As of December 31, 2014 Level I (5) Level II (5) Level III Total Cost of Investments Fair Value Assets Investments, at fair value: Investment in AAA Investments (6) $ — $ — $ 2,144,118 $ 2,144,118 $ 1,494,358 Investments held by Apollo Senior Loan Fund — 25,537 4,359 29,896 30,100 Other Investments — — 600 600 3,318 Investment in Athene Holding (1) — — 324,514 324,514 324,293 Total investments at fair value — 25,537 2,473,591 2,499,128 1,852,069 AAA/Athene Receivable (1) — — 61,292 61,292 Investments of VIEs, at fair value (3) 176 13,135,564 2,522,913 15,658,653 Total Assets $ 176 $ 13,161,101 $ 5,057,796 $ 18,219,073 Liabilities Liabilities of VIEs, at fair value (3)(4) $ — $ 1,793,353 $ 12,343,021 $ 14,136,374 Contingent Consideration Obligations (2) — — 96,126 96,126 Total Liabilities $ — $ 1,793,353 $ 12,439,147 $ 14,232,500 (1) See note 12 for further disclosure regarding the investment in Athene Holding and the AAA/Athene Receivable. (2) See note 13 for further disclosure regarding contingent consideration obligations. (3) See note 4 for further disclosure regarding VIEs. (4) As of September 30, 2015 , liabilities of VIEs, at fair value includes debt and other liabilities of $825.3 million and $11.7 million , respectively. As of December 31, 2014 , liabilities of VIEs, at fair value includes debt and other liabilities of $14,123.1 million and $13.3 million , respectively. Other liabilities include contingent obligations classified as Level III. (5) All Level I and Level II investments and liabilities were valued using third party pricing. (6) As of December 31, 2014, the financial instruments held by AAA represented 98.6% of net assets of consolidated funds (excluding VIEs).
Changes in Fair Value in Financial Assets, Measured at Fair Value and Characterized as Level III Investments	The following tables summarize the changes in fair value in financial assets measured at fair value for which Level III inputs have been used to determine fair value for the three and nine months ended September 30, 2015 and 2014 , respectively: For the Three Months Ended September 30, 2015 Investments held by Apollo Senior Loan Fund Other Investments Investment in Athene Holding Investment in RCAP Investments of Consolidated VIEs Total Balance, Beginning of Period $ 2,003 $ 629 $ 414,726 $ — $ 132,079 $ 549,437 Purchases 1,945 3 — 25,000 4,562 31,510 Sales of investments/distributions (2,482 ) (54 ) — — (5,736 ) (8,272 ) Net realized gains 12 — — — 553 565 Changes in net unrealized gains (losses) 18 (109 ) 81,216 — 1,369 82,494 Cumulative translation adjustment — — — — 325 325 Transfer into Level III (1) 3,147 — — — 21,411 24,558 Transfer out of Level III (1) (1,222 ) — — — (26,257 ) (27,479 ) Balance, End of Period $ 3,421 $ 469 $ 495,942 $ 25,000 $ 128,306 $ 653,138 Change in net unrealized gains (losses) included in Net Gains (Losses) from Investment Activities related to investments still held at reporting date $ (315 ) $ (109 ) $ 81,216 $ — $ — $ 80,792 Change in net unrealized losses included in Net Gains (Losses) from Investment Activities of Consolidated VIEs related to investments still held at reporting date — — — — (78 ) (78 ) (1) Transfers between Level II and III were a result of subjecting the broker quotes on these financial assets to various criteria which include the number and quality of broker quotes, the standard deviation of obtained broker quotes and the percentage deviation from independent pricing services. For the Three Months Ended September 30, 2014 Investment in AAA Investments Investments held by Apollo Senior Loan Fund Other Investments Investment in Athene Holding AAA/Athene Receivable Investments of Consolidated VIEs Total Balance, Beginning of Period $ 2,146,979 $ 987 $ 51,172 $ 207,253 $ 55,836 $ 2,051,862 $ 4,514,089 Elimination of investments attributable to consolidation of VIEs — — — — — 17,762 17,762 Fees — — — — 57,979 — 57,979 Purchases — 1,726 124 — — 673,384 675,234 Sales of investments/distributions — (15 ) (50,000 ) — — (490,105 ) (540,120 ) Net realized gains (losses) — — (12,871 ) — — 12,707 (164 ) Changes in net unrealized gains 125 11 12,996 92 — 7,214 20,438 Transfer into Level III (1) — 377 — — — 315,852 316,229 Transfer out of Level III (1) — (321 ) — — — (393,092 ) (393,413 ) Settlement of derivatives (2) — — — 57,968 (57,968 ) — — Balance, End of Period $ 2,147,104 $ 2,765 $ 1,421 $ 265,313 $ 55,847 $ 2,195,584 $ 4,668,034 Change in net unrealized gains included in Net Gains from Investment Activities related to investments still held at reporting date $ 125 $ 11 $ 12,996 $ 92 $ — $ — $ 13,224 Change in net unrealized gains included in Net Gains from Investment Activities of Consolidated VIEs related to investments still held at reporting date — — — — — 18,277 18,277 (1) Transfers between Level II and III were a result of subjecting the broker quotes on these financial assets to various criteria which include the number and quality of broker quotes, the standard deviation of obtained broker quotes and the percentage deviation from independent pricing services. (2) See note 12 for further disclosure regarding the settlement of the Athene Services Derivative, the AAA Services Derivative and the investment in Athene Holding. For the Nine Months Ended September 30, 2015 Investment in AAA Investments Investments held by Apollo Senior Loan Fund Other Investments Investment in Athene Holding AAA/Athene Receivable Investment in RCAP Investments of Consolidated VIEs Total Balance, Beginning of Period $ 2,144,118 $ 4,359 $ 600 $ 324,514 $ 61,292 $ — $ 2,522,913 $ 5,057,796 Adoption of accounting guidance (2,144,118 ) — — — — — (2,399,130 ) (4,543,248 ) Fees — — — — 1,942 — — 1,942 Purchases — 4,424 272 — — 25,000 25,923 55,619 Sales of investments/distributions — (5,085 ) (101 ) — — — (15,359 ) (20,545 ) Net realized gains — 36 — — — — 3,300 3,336 Changes in net unrealized gains (losses) — (23 ) (302 ) 108,194 — — 1,915 109,784 Cumulative translation adjustment — — — — — — (9,519 ) (9,519 ) Transfer into Level III (1) — 4,951 — — — — 53,887 58,838 Transfer out of Level III (1) — (5,241 ) — — — — (55,624 ) (60,865 ) Settlement of receivable (2) — — — 63,234 (63,234 ) — — — Balance, End of Period $ — $ 3,421 $ 469 $ 495,942 $ — $ 25,000 $ 128,306 $ 653,138 Change in net unrealized gains (losses) included in Net Gains (Losses) from Investment Activities related to investments still held at reporting date $ — $ (353 ) $ (302 ) $ 108,194 $ — $ — $ — $ 107,539 Change in net unrealized gains included in Net Gains from Investment Activities of Consolidated VIEs related to investments still held at reporting date — — — — — — 2,262 2,262 (1) Transfers between Level II and III were a result of subjecting the broker quotes on these financial assets to various criteria which include the number and quality of broker quotes, the standard deviation of obtained broker quotes and the percentage deviation from independent pricing services. (2) See note 12 for further disclosure regarding the settlement of the AAA/Athene receivable and the investment in Athene Holding. For the Nine Months Ended September 30, 2014 Investment in AAA Investments Investments held by Apollo Senior Loan Fund Other Investments Athene and AAA Services Derivatives Investment in Athene Holding AAA/Athene Receivable Investments of Consolidated VIEs Total Balance, Beginning of Period $ 1,942,051 $ 892 $ 40,373 $ 130,709 $ — $ — $ 1,919,537 $ 4,033,562 Elimination of investments attributable to consolidation of VIEs — — — — — — 16,666 16,666 Fees — — — 60,422 — 113,815 — 174,237 Purchases — 3,716 1,849 — 2,083 — 988,308 995,956 Sales of investments/distributions — (1,524 ) (50,142 ) — — — (788,089 ) (839,755 ) Net realized gains (losses) — 10 (12,871 ) 24,242 — — (8,495 ) 2,886 Changes in net unrealized gains (losses) 205,053 47 22,212 (10,203 ) 92 — 33,826 251,027 Transfer into Level III (1) — 859 — — — — 897,616 898,475 Transfer out of Level III (1) — (1,235 ) — — — — (863,785 ) (865,020 ) Settlement of derivatives (2) — — — (205,170 ) 263,138 (57,968 ) — — Balance, End of Period $ 2,147,104 $ 2,765 $ 1,421 $ — $ 265,313 $ 55,847 $ 2,195,584 $ 4,668,034 Change in net unrealized gains included in Net Gains from Investment Activities related to investments still held at reporting date $ 205,053 $ 47 $ 22,212 $ — $ 92 $ — $ — $ 227,404 Change in net unrealized gains included in Net Gains from Investment Activities of Consolidated VIEs related to investments still held at reporting date — — — — — — 34,543 34,543 (1) Transfers between Level II and III were a result of subjecting the broker quotes on these financial assets to various criteria which include the number and quality of broker quotes, the standard deviation of obtained broker quotes and the percentage deviation from independent pricing services. (2) See note 12 for further disclosure regarding the settlement of the Athene Services Derivative, the AAA Services Derivative and the investment in Athene Holding.
Changes in Fair Value in Financial Liabilities, Measured at Fair Value and Characterized as Level III Liabilities	The following tables summarize the changes in fair value in financial liabilities measured at fair value for which Level III inputs have been used to determine fair value for the three and nine months ended September 30, 2015 and 2014 , respectively: For the Three Months Ended September 30, 2015 2014 Liabilities of Consolidated VIEs Contingent Consideration Obligations Total Liabilities of Consolidated VIEs Contingent Consideration Obligations Total Balance, Beginning of Period $ 11,714 $ 92,968 $ 104,682 $ 10,211,336 $ 115,220 $ 10,326,556 Elimination of debt attributable to consolidation of VIEs — — — (19,982 ) — (19,982 ) Additions — — — 2,573,593 — 2,573,593 Payments/Extinguishment (3) — (3,026 ) (3,026 ) (495,236 ) (19,043 ) (514,279 ) Net realized gains — — — (101,388 ) — (101,388 ) Changes in net unrealized (gains) losses (2) — (8,336 ) (8,336 ) 65,596 734 66,330 Cumulative translation adjustment 32 — 32 — — — Transfers into Level III (1) — — — 87,794 (1) — 87,794 Transfers out of Level III (1) — — — (33,418 ) (1) — (33,418 ) Balance, End of Period $ 11,746 $ 81,606 $ 93,352 $ 12,288,295 $ 96,911 $ 12,385,206 Change in net unrealized gains included in Net Gains from Investment Activities of consolidated VIEs related to liabilities still held at reporting date $ — $ — $ — $ (21,716 ) $ — $ (21,716 ) (1) Transfers between Level II and III were a result of subjecting the broker quotes on these financial liabilities to various criteria which include the number and quality of broker quotes, the standard deviation of obtained broker quotes and the percentage deviation from independent pricing services. (2) Change in fair value of contingent consideration obligations are recorded in profit sharing expense in the condensed consolidated statements of operations. (3) For the three months ended September 30, 2014 , includes a $13.4 million extinguishment of contingent consideration obligations, which is recorded in other income on the condensed consolidated statements of operations. For the Nine Months Ended September 30, 2015 2014 Liabilities of Consolidated VIEs Contingent Consideration Obligations Total Liabilities of Consolidated VIEs Contingent Consideration Obligations Total Balance, Beginning of Period $ 12,343,021 $ 96,126 $ 12,439,147 $ 9,994,147 $ 135,511 $ 10,129,658 Elimination of debt attributable to consolidation of VIEs — — — (13,258 ) — (13,258 ) Adoption of accounting guidance (11,433,815 ) — (11,433,815 ) — — — Additions — — — 3,469,560 — 3,469,560 Payments/Extinguishment (4) — (12,746 ) (12,746 ) (1,336,015 ) (44,126 ) (1,380,141 ) Net realized gains — — — (101,745 ) — (101,745 ) Changes in net unrealized (gains) losses (2) (8,244 ) (1,774 ) (10,018 ) 54,586 5,526 60,112 Cumulative translation adjustment (92,258 ) — (92,258 ) — — — Transfers into Level III — — — 461,865 (1) — 461,865 Transfers out of Level III (796,958 ) (3 ) — (796,958 ) (240,845 ) (1) — (240,845 ) Balance, End of Period $ 11,746 $ 81,606 $ 93,352 $ 12,288,295 $ 96,911 $ 12,385,206 Change in net unrealized gains included in Net Gains from Investment Activities of consolidated VIEs related to liabilities still held at reporting date $ — $ — $ — $ (66,139 ) $ — $ (66,139 ) (1) Transfers between Level II and III were a result of subjecting the broker quotes on these financial liabilities to various criteria which include the number and quality of broker quotes, the standard deviation of obtained broker quotes and the percentage deviation from independent pricing services. (2) Changes in fair value of contingent consideration obligations are recorded in profit sharing expense in the condensed consolidated statements of operations. (3) Upon adoption of new accounting guidance (see note 2), the debt obligations of consolidated CLOs are no longer categorized as Level III financial liabilities under the fair value hierarchy. Effective January 1, 2015, these financial liabilities are measured on the basis of the fair value of the financial assets of the consolidated CLOs and were categorized as Level II as of September 30, 2015. (4) For the nine months ended September 30, 2014 , includes a $13.4 million extinguishment of contingent consideration obligations, which is recorded in other income on the condensed consolidated statements of operations.
Quantitative Inputs and Assumptions used for Financial Assets and Liabilities Categorized in Level III	The following tables summarize the quantitative inputs and assumptions used for financial assets and liabilities categorized as Level III under the fair value hierarchy as of September 30, 2015 and December 31, 2014 : As of September 30, 2015 Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted Average Financial Assets Investments of Consolidated Apollo Funds: Apollo Senior Loan Fund $ 3,421 Third Party Pricing (1) N/A N/A N/A Investments in Other 469 Other N/A N/A N/A Investment in RCAP 25,000 Other N/A N/A N/A Investment in Athene Holding 495,942 Book Value Multiple Book Value Multiple 1.20x 1.20x Investments of Consolidated VIEs: Bank Debt Term Loans 41,018 Third Party Pricing (1) N/A N/A N/A Corporate Loans/Bonds/CLO Notes 26,053 Third Party Pricing (1) N/A N/A N/A Equity Securities 54,513 Market Comparable Companies Comparable Multiples 0.53x 0.53x Discounted Cash Flow Discount Rate 15.1% 15.1% Other 6,722 Net Asset Value N/A N/A N/A Total Investments of Consolidated VIEs 128,306 Total Financial Assets $ 653,138 Financial Liabilities Liabilities of Consolidated VIEs: Contingent Obligation $ 11,746 Other N/A N/A N/A Contingent Consideration Obligation 81,606 Discounted Cash Flow Discount Rate 10.5% - 18.0% 16.3% Total Financial Liabilities $ 93,352 (1) These securities are valued primarily using broker quotes. As of December 31, 2014 Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted Average Financial Assets Investments of Consolidated Apollo Funds: AAA Investments (1) $ 2,144,118 Net Asset Value N/A N/A N/A Apollo Senior Loan Fund 4,359 Third Party Pricing (2) N/A N/A N/A Other Investments 600 Other N/A N/A N/A Investment in Athene Holding 324,514 Discounted Cash Flow Discount Rate 15.0% 15.0% AAA/Athene Receivable 61,292 Discounted Cash Flow Discount Rate 15.0% 15.0% Investments of Consolidated VIEs: Bank Debt Term Loans 1,340,296 Third Party Pricing (2) N/A N/A N/A 87,314 Discounted Cash Flow Discount Rate 7.1% - 14.0% 8.4% Corporate Loans/Bonds/CLO Notes (3) 1,009,873 Third Party Pricing (2) N/A N/A N/A Equity Securities 930 Third Party Pricing (2) N/A N/A N/A 4,610 Market Comparable Companies Comparable Multiples 5.8x 5.8x 58,923 Transaction Purchase Price N/A N/A 20,967 Transaction Implied Multiple 5.2x 5.2x Total Investments of Consolidated VIEs 2,522,913 Total Financial Assets $ 5,057,796 Financial Liabilities Liabilities of Consolidated VIEs: Subordinated Notes $ 908,831 Discounted Cash Flow Discount Rate 10.0% - 12.5% 11.5% Default Rate 1.0% - 2.0% 1.7% Recovery Rate 75.0% 75.0% Subordinated Notes 106,090 Other N/A N/A N/A Senior Secured Notes 9,283,534 Third Party Pricing (2) N/A N/A N/A Senior Secured and Subordinated Notes 2,031,292 Discounted Cash Flow Discount Rate 1.6% - 1.8% 1.7% Default Rate 2.0% 2.0% Recovery Rate 15.0% - 75.0% 69.0% Contingent Obligation 13,274 Other N/A N/A N/A Total Liabilities of Consolidated VIEs 12,343,021 Contingent Consideration Obligation 96,126 Discounted Cash Flow Discount Rate 11.0% - 18.5% 15.7% Total Financial Liabilities $ 12,439,147 (1) The net asset value of the underlying securities held by AAA Investments represents its sole investment in Athene, offset by other net liabilities. The investment in Athene was valued at $2,244.2 million as of December 31, 2014 using the embedded value method based on the present value of the future expected regulatory distributable income generated by the net assets of Athene plus the excess capital (i.e., the capital in excess of what is required to be held against Athene’s liabilities). The unobservable inputs and respective ranges used are the same as noted for the Investment in Athene Holding and the AAA/Athene Receivable in the table above. See note 12 for discussion of the investment in Athene Holding. (2) These securities are valued primarily using broker quotes. (3) Balance includes investments in an affiliated fund, which primarily invests in corporate loans, bonds, and CLO notes. Balance at December 31, 2014 includes investments in an affiliated fund in the amount of $865.9 million , which were valued based on NAV.

CARRIED INTEREST RECEIVABLE (Ta

CARRIED INTEREST RECEIVABLE (Tables)	9 Months Ended
	Sep. 30, 2015
Disclosure Carried Interest Receivable Balance [Abstract]
Carried Interest Receivable from Private Equity and Capital Markets Funds	Carried interest receivable from private equity, credit and real estate funds consisted of the following: As of As of Private Equity $ 421,133 $ 672,119 Credit 242,250 226,430 Real Estate 25,503 13,117 Total carried interest receivable $ 688,886 $ 911,666
Carried Interest Receivable Balance	The table below provides a roll-forward of the carried interest receivable balance for the nine months ended September 30, 2015 : Private Equity Credit Real Estate Total Carried interest receivable, January 1, 2015 $ 672,119 $ 226,430 $ 13,117 $ 911,666 Change in fair value of funds (1) 85,631 99,934 7,798 193,363 Fund distributions to the Company (336,617 ) (124,472 ) (2,448 ) (463,537 ) Adoption of new accounting guidance — 40,358 7,036 47,394 Carried interest receivable, September 30, 2015 $ 421,133 $ 242,250 $ 25,503 $ 688,886 (1) Included in unrealized carried interest income (loss) from affiliates for the nine months ended September 30, 2015 was a reversal of previously realized carried interest income due to the general partner obligation to return previously distributed carried interest income with respect to Fund V, APC, ANRP I, ACLF, COF II, and certain SIAs within the credit segment of $10.5 million , $0.7 million , $3.5 million , $19.7 million , $0.1 million and $28.8 million , respectively. The general partner obligation is recognized based upon a hypothetical liquidation of the fund’s net assets as of the reporting date. The actual determination and any required payment of any such general partner obligation would not take place until the final disposition of a fund’s investments based on the contractual termination of the fund or as otherwise set forth in the respective limited partnership agreement of the fund.

PROFIT SHARING PAYABLE (Tables)

PROFIT SHARING PAYABLE (Tables)	9 Months Ended
	Sep. 30, 2015
Profit Sharing Payable [Abstract]
Summary of Profit Sharing From Private Equity, Credit, and Real Estate Funds	Profit sharing payable from private equity, credit and real estate funds consisted of the following: As of As of Private Equity $ 179,462 $ 240,595 Credit 176,329 186,307 Real Estate 10,870 7,950 Total profit sharing payable $ 366,661 $ 434,852
Rollforward Summary of Profit Sharing From Private Equity, Credit, and Real Estate Funds	The table below provides a roll-forward of the profit sharing payable balance for the nine months ended September 30, 2015 : Private Equity Credit Real Estate Total Profit sharing payable, January 1, 2015 $ 240,595 $ 186,307 $ 7,950 $ 434,852 Profit sharing expense (1)(2) 66,915 31,697 4,062 102,674 Payments/other (128,048 ) (41,675 ) (1,142 ) (170,865 ) Profit sharing payable, September 30, 2015 $ 179,462 $ 176,329 $ 10,870 $ 366,661 (1) Includes both of the following: (i) changes in amounts payable to employees and former employees entitled to a share of carried interest income in Apollo’s funds and (ii) changes to the fair value of the contingent consideration obligations (see notes 5 and 13 ) recognized in connection with certain Apollo acquisitions. (2) The Company has recorded a receivable from the Contributing Partners and certain employees and former employees for the potential return of profit sharing distributions that would be due if certain funds were liquidated as of September 30, 2015. See note 12 to the condensed consolidated financial statements.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Change in Deferred Tax Assets and Deferred Tax Liabilities	The tables below present the transactions related to the exchange of AOG Units for Class A shares during the nine months ended September 30, 2015 and 2014 and the resulting impact to the deferred tax asset, tax receivable agreement liability and additional paid-in capital. For the Nine Months Ended September 30, 2015 Exchange of AOG Units for Class A shares Increase in Deferred Tax Asset Increase in Tax Receivable Agreement Liability Increase to Additional Paid In Capital For the Nine Months Ended September 30, 2015 $ 60,648 $ 44,534 $ 16,114 For the Nine Months Ended September 30, 2014 Exchange of AOG Units for Class A shares Increase in Deferred Tax Asset Increase in Tax Receivable Agreement Liability Increase to Additional Paid In Capital For the Nine Months Ended September 30, 2014 $ 58,696 $ 47,878 $ 10,818

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Summary of Debt	Debt consisted of the following: As of September 30, 2015 As of December 31, 2014 Outstanding Balance Annualized Weighted Average Interest Rate Outstanding Balance Annualized Weighted Average Interest Rate 2013 AMH Credit Facilities - Term Facility $ 500,000 1.40 % $ 500,000 1.36 % 2024 Senior Notes (1) 499,133 4.00 499,058 4.00 2014 AMI Term Facility I (2) 14,971 2.15 16,204 2.34 2014 AMI Term Facility II (3) 17,324 1.85 18,752 1.93 Total Debt $ 1,031,428 $ 1,034,014 (1) Includes impact of any amortization of note discount. (2) On July 3, 2014, Apollo Management International LLP (“AMI”), a subsidiary of the Company, entered into a €13.4 million five year credit agreement (the “2014 AMI Term Facility I”). Proceeds from the borrowing were used to fund the Company’s investment in a European CLO it manages. (3) On December 9, 2014, AMI entered into a €15.5 million five year credit agreement (the “2014 AMI Term Facility II”). Proceeds from the borrowing were used to fund the Company’s investment in a European CLO it manages.

NET INCOME (LOSS) PER CLASS A33

NET INCOME (LOSS) PER CLASS A SHARE (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Basic and Diluted Net Income (Loss) Per Class A Share	The table below presents basic and diluted net income per Class A share using the two-class method for the three and nine months ended September 30, 2015 and 2014 : Basic and Diluted For the Three Months Ended For the Nine Months Ended 2015 2014 2015 2014 Numerator: Net income attributable to Apollo Global Management, LLC $ 41,051 $ 2,210 $ 128,406 $ 146,047 Distributions declared on Class A shares (74,812 ) (1) (73,580 ) (2) (276,021 ) (1) (364,434 ) (2) Distributions on participating securities (5) (5,113 ) (10,161 ) (25,347 ) (56,588 ) Earnings allocable to participating securities — (3) — (3) — (3) — (3) Undistributed loss attributable to Class A shareholders: Basic and Diluted $ (38,874 ) $ (81,531 ) $ (172,962 ) $ (274,975 ) Denominator: Weighted average number of Class A shares outstanding: Basic and Diluted 176,169,986 158,466,602 170,879,302 153,071,007 Net Income per Class A share: Basic and Diluted Distributed Income $ 0.42 $ 0.46 $ 1.61 $ 2.38 Undistributed Loss (0.22 ) (0.51 ) (1.01 ) (1.80 ) Net Income (Loss) per Class A Share: Basic and Diluted (4) $ 0.20 $ (0.05 ) $ 0.60 $ 0.58 (1) The Company declared an $0.86 , $0.33 and $0.42 distribution on Class A shares on February 5, 2015 , May 7, 2015, and July 29, 2015, respectively. (2) The Company declared a $1.08 , $0.84 , and $0.46 distribution on Class A shares on February 7, 2014 , May 8, 2014, and August 6, 2014, respectively. (3) No allocation of undistributed losses was made to the participating securities as the holders do not have a contractual obligation to share in the losses of the Company with Class A shareholders. (4) For the three and nine months ended September 30, 2015 and 2014 , the Company had an undistributed loss attributable to Class A shareholders and none of the classes of securities resulted in dilution. All of the classes of securities were anti-dilutive for the periods indicated. (5) Participating securities consist of vested and unvested RSUs that have rights to distributions and unvested restricted shares.
Schedule of Weighted Average Number of Shares [Table Text Block]	The following table summarizes the weighted average vested and unvested RSUs, unexercised options, and AOG Units outstanding for the three and nine months ended September 30, 2015 and 2014 , respectively. For the Three Months Ended For the Nine Months Ended 2015 2014 2015 2014 Weighted average vested RSUs 8,358,613 19,410,438 11,553,100 20,639,048 Weighted average unvested RSUs 4,877,577 4,180,381 4,849,464 3,889,480 Weighted average unexercised options 227,086 237,503 228,475 654,170 Weighted average AOG Units outstanding 218,272,537 222,736,477 220,719,479 225,782,718
Transactions in Class A Shares and Impact on Company's and Holdings' Ownership Interests	The following table summarizes the weighted average vested and unvested RSUs, unexercised options, and AOG Units outstanding for the three and nine months ended September 30, 2015 and 2014 , respectively. For the Three Months Ended For the Nine Months Ended 2015 2014 2015 2014 Weighted average vested RSUs 8,358,613 19,410,438 11,553,100 20,639,048 Weighted average unvested RSUs 4,877,577 4,180,381 4,849,464 3,889,480 Weighted average unexercised options 227,086 237,503 228,475 654,170 Weighted average AOG Units outstanding 218,272,537 222,736,477 220,719,479 225,782,718 The table below presents transactions in Class A shares each quarter during the nine months ended September 30, 2015 and the year ended December 31, 2014 , and the resulting impact on the Company’s and Holdings’ ownership interests in the Apollo Operating Group: Date Type of Class A Shares Transaction Number of Shares Issued in Class A Shares Transaction (in thousands) Apollo Global Management, LLC ownership% in Apollo Operating Group before Class A Shares Transaction Apollo Global Management, LLC ownership% in Apollo Operating Group after Class A Shares Transaction Holdings ownership% in Apollo Operating Group before Class A Shares Transaction Holdings ownership% in Apollo Operating Group after Class A Shares Transaction Quarter Ended March 31, 2014 Issuance 2,672 39.0% 39.4% 61.0% 60.6% Quarter Ended Issuance/Exchange 7,344 (1) 39.4 41.2 60.6 58.8 Quarter Ended September 30, 2014 Issuance 3,660 41.2 41.8 58.8 58.2 Quarter Ended December 31, 2014 Issuance/Exchange 3,090 (1) 41.8 42.3 58.2 57.7 Quarter Ended March 31, 2015 Issuance/Exchange 4,866 (1) 42.3 43.0 57.7 57.0 Quarter Ended Issuance/Exchange 4,275 (1) 43.0 43.8 57.0 56.2 Quarter Ended September 30, 2015 Issuance/Exchange 6,819 (1) 43.8 45.3 56.2 54.7 (1) In May 2014, October 2014, February 2015, May 2015 and August 2015, certain holders of AOG Units exchanged their AOG Units for Class A shares and approximately 6.2 million , 0.1 million , 0.2 million , 1.8 million and 4.4 million Class A shares, respectively, were issued by the Company in the exchanges.

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	The following table summarizes the weighted average discounts for Plan Grants and Bonus Grants for the three and nine months ended September 30, 2015 and 2014. For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Plan Grants: Discount for the lack of distributions until vested (1) 26.1 % 29.2 % 26.2 % 37.3 % Marketability discount for transfer restrictions (2) 3.8 % 5.1 % 3.9 % 5.0 % Bonus Grants: Marketability discount for transfer restrictions (2) 2.3 % N/A 2.2 % 3.0 % (1) Based on the present value of a growing annuity calculation. (2) Based on the Finnerty Model calculation. The table below summarizes the delivery of Class A shares in settlement of vested RSUs and exercised share options for the nine months ended September 30, 2015 and 2014: For the Nine Months Ended September 30, 2015 2014 Class A shares delivered 9,253,602 7,457,755 Gross value of shares delivered (1) $ 261,566 $ 219,505 (1) Based on the closing price of a Class A share at the time of delivery.
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	The following table summarizes RSU activity for the nine months ended September 30, 2015 : Unvested Weighted Average Grant Date Fair Value Vested Total Number of RSUs Outstanding Balance at January 1, 2015 10,717,635 $ 18.11 17,354,242 28,071,877 Granted 1,010,963 18.05 — 1,010,963 Forfeited (149,316 ) 20.46 — (149,316 ) Delivered — 13.55 (11,769,015 ) (11,769,015 ) Vested (2,055,811 ) 17.24 2,055,811 — Balance at September 30, 2015 9,523,471 $ 18.26 7,641,038 17,164,509
Schedule of Share-based Compensation, Activity	Below is a reconciliation of the equity-based compensation allocated to Apollo Global Management, LLC for the three months ended September 30, 2015 : Total Amount Non- Controlling Interest % in Apollo Operating Group Allocated to Non- Controlling Interest in Apollo Operating Group (1) Allocated to Apollo Global Management, LLC RSUs and Share Options $ 16,860 — % $ — $ 16,860 AHL Awards 13,331 54.7 7,293 6,038 Other equity-based compensation awards 1,213 54.7 664 549 Total Equity-Based Compensation $ 31,404 7,957 23,447 Less other equity-based compensation awards (2) (7,957 ) (7,221 ) Capital Increase Related to Equity-Based Compensation $ — $ 16,226 (1) Calculated based on average ownership percentage for the period considering Class A share issuances during the period. (2) Includes equity-based compensation reimbursable by certain funds. Below is a reconciliation of the equity-based compensation allocated to Apollo Global Management, LLC for the nine months ended September 30, 2015 : Total Amount Non- Controlling Interest % in Apollo Operating Group Allocated to Non- Controlling Interest in Apollo Operating Group (1) Allocated to Apollo Global Management, LLC RSUs and Share Options $ 50,305 — % $ — $ 50,305 AHL Awards 19,592 54.7 10,718 8,874 Other equity-based compensation awards 3,889 54.7 2,128 1,761 Total Equity-Based Compensation $ 73,786 12,846 60,940 Less other equity-based compensation awards (2) (12,846 ) (10,988 ) Capital Increase Related to Equity-Based Compensation $ — $ 49,952 (1) Calculated based on average ownership percentage for the period considering Class A share issuances during the period. (2) Includes equity-based compensation reimbursable by certain funds. Below is a reconciliation of the equity-based compensation allocated to Apollo Global Management, LLC for the three months ended September 30, 2014 : Total Amount Non- Controlling Interest % in Apollo Operating Group Allocated to Non- Controlling Interest in Apollo Operating Group (1) Allocated to Apollo Global Management, LLC RSUs and Share Options $ 15,368 — % $ — $ 15,368 AHL Awards (2,107 ) 58.2 (1,231 ) (876 ) Other equity-based compensation awards 726 58.2 425 301 Total Equity-Based Compensation $ 13,987 (806 ) 14,793 Less other equity-based compensation awards (2) 806 929 Capital Increase Related to Equity-Based Compensation $ — $ 15,722 (1) Calculated based on average ownership percentage for the period considering Class A share issuances during the period. (2) Includes equity-based compensation reimbursable by certain funds. Below is a reconciliation of the equity-based compensation allocated to Apollo Global Management, LLC for the nine months ended September 30, 2014 : Total Amount Non- Controlling Interest % in Apollo Operating Group Allocated to Non- Controlling Interest in Apollo Operating Group (1) Allocated to Apollo Global Management, LLC RSUs and Share Options $ 86,992 — % $ — $ 86,992 AHL Awards 12,839 58.2 7,680 5,159 Other equity-based compensation awards 1,845 58.2 1,100 745 Total Equity-Based Compensation $ 101,676 8,780 92,896 Less other equity-based compensation awards (2) (8,780 ) (4,584 ) Capital Increase Related to Equity-Based Compensation $ — $ 88,312 (1) Calculated based on average ownership percentage for the period considering Class A share issuances during the period. (2) Includes equity-based compensation reimbursable by certain funds.

RELATED PARTY TRANSACTIONS AN35

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Due from and Due to Affiliates	Due from affiliates and due to affiliates are comprised of the following: As of As of Due from Affiliates: Due from private equity funds $ 32,065 $ 30,091 Due from portfolio companies 35,872 41,844 Due from credit funds (1) 138,063 174,165 Due from Contributing Partners, employees and former employees 38,842 1,721 Due from real estate funds 20,523 20,162 Other 33 32 Total Due from Affiliates $ 265,398 $ 268,015 Due to Affiliates: Due to Managing Partners and Contributing Partners in connection with the tax receivable agreement $ 505,262 $ 509,149 Due to private equity funds 15,239 1,158 Due to credit funds 49,092 5,343 Distributions payable to employees 12,735 49,503 Total Due to Affiliates $ 582,328 $ 565,153 (1) As of December 31, 2014, includes unsettled monitoring fee receivable and management fee receivable from AAA and Athene as discussed in “Athene” below.
Amount of Quarterly Distribution	In addition to other distributions such as payments pursuant to the tax receivable agreement, the table below presents information regarding the quarterly distributions which were made at the sole discretion of the manager of the Company during 2014 and 2015 (in millions, except per share data): Distribution Declaration Date Distribution per Class A Share Amount Distribution Payment Date Distribution to Class A Shareholders Distribution to Non-Controlling Interest Holders in the Apollo Operating Group Total Distributions from Apollo Operating Group Distribution Equivalents on Participating Securities February 7, 2014 $ 1.08 February 26, 2014 $ 160.9 $ 247.3 $ 408.2 $ 25.5 April 3, 2014 — April 3, 2014 — 49.5 (1) 49.5 — May 8, 2014 0.84 May 30, 2014 130.0 188.4 318.4 20.9 June 16, 2014 — June 16, 2014 — 28.5 (1) 28.5 — August 6, 2014 0.46 August 29, 2014 73.6 102.5 176.1 10.2 September 11, 2014 — September 11, 2014 — 12.4 (1) 12.4 — October 30, 2014 0.73 November 21, 2014 119.0 162.6 281.6 15.5 December 15, 2014 — December 15, 2014 — 25.2 (1) 25.2 — For the year ended December 31, 2014 $ 3.11 $ 483.5 $ 816.4 $ 1,299.9 $ 72.1 February 5, 2015 $ 0.86 February 27, 2015 $ 144.4 $ 191.3 $ 335.7 $ 15.3 April 11, 2015 — April 11, 2015 — 22.4 (1) 22.4 — May 7, 2015 0.33 May 29, 2015 56.8 72.8 129.6 4.9 July 29, 2015 0.42 August 31, 2015 74.8 91.2 166.0 5.1 For the nine months ended September 30, 2015 $ 1.61 $ 276.0 $ 377.7 $ 653.7 $ 25.3 (1) On April 3, 2014, June 16, 2014, September 11, 2014, December 15, 2014 and April 11, 2015, the Company made distributions of $0.22 , $0.13 , $0.06 , $0.11 and $0.10 per AOG Unit, respectively, to the Non-Controlling Interest holders in the Apollo Operating Group.
Net Income Attributable to Non-Controlling Interests	The table below presents equity interests in Apollo’s consolidated, but not wholly-owned, subsidiaries and funds. Net income and comprehensive income attributable to Non-Controlling Interests consisted of the following: For the Three Months Ended For the Nine Months Ended 2015 2014 2015 2014 AAA (1) $ — $ 429 $ — $ (197,908 ) Interest in management companies and a co-investment vehicle (2) (1,120 ) (2,797 ) (7,726 ) (11,291 ) Other consolidated entities (1,596 ) (17,220 ) (3,492 ) (12,113 ) Net (income) attributable to Non-Controlling Interests in consolidated entities (2,716 ) (19,588 ) (11,218 ) (221,312 ) Net income attributable to Appropriated Partners’ Capital (3) 2,555 132,517 — 73,226 Net (income) loss attributable to Non-Controlling Interests in the Apollo Operating Group (55,347 ) (42,955 ) (186,507 ) (350,049 ) Net (Income) Loss attributable to Non-Controlling Interests $ (55,508 ) $ 69,974 $ (197,725 ) $ (498,135 ) Net income attributable to Appropriated Partners’ Capital (4) (2,555 ) (132,517 ) — (73,226 ) Other comprehensive (income) loss attributable to Non-Controlling Interests (178 ) 606 5,572 606 Comprehensive Income Attributable to Non-Controlling Interests $ (58,241 ) $ (61,937 ) $ (192,153 ) $ (570,755 ) (1) Reflects the Non-Controlling Interests in the net (income) loss of AAA and is calculated based on the Non-Controlling Interests ownership percentage in AAA as of September 30, 2014 , which was approximately 97.5% . As of September 30, 2014 , Apollo owned approximately 2.5% of AAA. AAA has been deconsolidated effective January 1, 2015 as a result of the Company’s adoption of new accounting guidance, as described in note 2. (2) Reflects the remaining interest held by certain individuals who receive an allocation of income from certain of our credit funds. (3) Reflects net income of the consolidated CLOs classified as VIEs. (4) Appropriated Partners’ Capital is included in total Apollo Global Management, LLC shareholders’ equity and is therefore not a component of comprehensive income attributable to Non-Controlling Interests on the condensed consolidated statements of comprehensive income.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Summary of Approximate Aggregate Minimum Future Payments Required for Operating Leases	As of September 30, 2015 , the approximate aggregate minimum future payments required for operating leases were as follows: Remaining 2015 2016 2017 2018 2019 Thereafter Total Aggregate minimum future payments $ 9,577 $ 37,837 $ 35,894 $ 31,325 $ 30,728 $ 24,342 $ 169,703
Summary of Fixed and Determinable Payments	As of September 30, 2015 , fixed and determinable payments due in connection with these obligations were as follows: Remaining 2015 2016 2017 2018 2019 Thereafter Total Other long-term obligations $ 5,042 $ 8,842 $ 5,282 $ 4,889 $ 2,329 $ — $ 26,384

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Schedule of Economic Net Income	The impact of this change on EI is reflected in the table below for Apollo’s three reportable segments for the three and nine months ended September 30, 2014 . The exclusion of transaction-related charges relating to contingent consideration associated with acquisitions only impacted the credit segment. Impact of Revised Definition on Economic Income (Loss) Total EI as Previously Reported Impact of Revised Definition Total EI After Revised Definition For the Three Months Ended September 30, 2014 $ 83,246 $ (11,919 ) $ 71,327 For the Nine Months Ended September 30, 2014 619,559 (7,125 ) 612,434
Schedule of Financial Data for Reportable Segments	The following table presents financial data for Apollo’s reportable segments as of and for the nine months ended September 30, 2015 and 2014 : As of and for the Nine Months Ended Private Equity Segment Credit Segment Real Estate Segment Total Reportable Segments Revenues: Advisory and transaction fees from affiliates, net $ 17,490 $ 13,913 $ 2,866 $ 34,269 Management fees from affiliates 220,742 421,790 36,212 678,744 Carried interest income from affiliates: — Unrealized gains (losses) (1) (265,147 ) (67,748 ) 3,974 (328,921 ) Realized gains 336,175 108,748 3,712 448,635 Total Revenues 309,260 476,703 46,764 832,727 Expenses: Compensation and benefits: Salary, bonus and benefits 80,662 162,618 28,065 271,345 Equity-based compensation 23,467 18,794 3,151 45,412 Profit sharing expense 60,796 26,853 4,062 91,711 Total compensation and benefits 164,925 208,265 35,278 408,468 Other expenses 48,973 95,514 17,242 161,729 Total Expenses 213,898 303,779 52,520 570,197 Other Income: Net interest expense (7,439 ) (10,107 ) (2,157 ) (19,703 ) Net gains from investment activities 5,904 100,387 — 106,291 Income (loss) from equity method investments 18,588 (2,654 ) 2,283 18,217 Other income, net 2,903 1,923 1,401 6,227 Total Other Income 19,956 89,549 1,527 111,032 Non-Controlling Interests — (8,766 ) — (8,766 ) Economic Income (Loss) $ 115,318 $ 253,707 $ (4,229 ) $ 364,796 Total Assets $ 1,415,186 $ 2,239,214 $ 202,536 $ 3,856,936 (1) Included in unrealized carried interest income (loss) from affiliates for the nine months ended September 30, 2015 was a reversal of previously realized carried interest income due to the general partner obligation to return previously distributed carried interest income with respect to Fund V, APC, ANRP, ACLF, COF II and certain SIAs within the credit segment of $10.5 million , $0.7 million , $3.5 million , $19.7 million , 0.1 million and $28.8 million , respectively. The general partner obligation is recognized based upon a hypothetical liquidation of the fund’s net assets as of the reporting date. The actual determination and any required payment of any such general partner obligation would not take place until the final disposition of a fund’s investments based on the contractual termination of the fund or as otherwise set forth in the respective limited partnership agreement of the fund. As of and for the Nine Months Ended Private Equity Segment Credit Segment Real Estate Segment Total Reportable Segments Revenues: Advisory and transaction fees from affiliates, net $ 54,739 $ 191,682 $ 1,752 $ 248,173 Management fees from affiliates 238,314 405,879 36,188 680,381 Carried interest income from affiliates: Unrealized losses (753,489 ) (67,883 ) (2,962 ) (824,334 ) Realized gains 964,911 256,414 3,998 1,225,323 Total Revenues 504,475 786,092 38,976 1,329,543 Expenses: Compensation and benefits: Salary, bonus and benefits 72,774 166,936 22,476 262,185 Equity-based compensation 39,434 39,374 7,537 86,346 Profit sharing expense 162,719 91,744 (1,055 ) 253,408 Total compensation and benefits 274,927 298,054 28,958 601,939 Other expenses 52,819 112,768 16,137 181,724 Total Expenses 327,746 410,822 45,095 783,663 Other Income: Net interest expense (5,359 ) (5,743 ) (1,373 ) (12,475 ) Net gains from investment activities — 8,949 — 8,949 Income from equity method investments 33,288 21,234 4,464 58,986 Other income, net 2,358 18,110 180 20,648 Total Other Income 30,287 42,550 3,271 76,108 Non-Controlling Interests — (9,554 ) — (9,554 ) Economic Income (Loss) $ 207,016 $ 408,266 $ (2,848 ) $ 612,434 Total Assets $ 2,462,241 $ 2,250,020 $ 203,889 $ 4,916,150 The following table presents financial data for Apollo’s reportable segments as of and for the three months ended September 30, 2015 and 2014 : As of and for the Three Months Ended Private Equity Segment Credit Segment Real Estate Segment Total Reportable Segments Revenues: Advisory and transaction fees from affiliates, net $ 4,736 $ 4,141 $ 399 $ 9,276 Management fees from affiliates 71,876 141,706 13,176 226,758 Carried interest income from affiliates: — Unrealized (gains) losses (1) (167,364 ) (15,056 ) 3,334 (179,086 ) Realized gains 102,138 22,331 46 124,515 Total Revenues 11,386 153,122 16,955 181,463 Expenses: Compensation and benefits: Salary, bonus and benefits 27,183 56,945 9,982 94,110 Equity-based compensation 6,974 6,896 1,068 14,938 Profit sharing expense (26,044 ) 12,739 1,312 (11,993 ) Total compensation and benefits 8,113 76,580 12,362 97,055 Other expenses 17,326 31,333 5,753 54,412 Total Expenses 25,439 107,913 18,115 151,467 Other Income: Net interest expense (2,425 ) (3,003 ) (759 ) (6,187 ) Net gains from investment activities 5,904 75,340 — 81,244 Income (loss) from equity method investments 3,827 (1,949 ) 1,147 3,025 Other income (loss), net (43 ) (148 ) 4 (187 ) Total Other Income 7,263 70,240 392 77,895 Non-Controlling Interests — (2,697 ) — (2,697 ) Economic Income (Loss) $ (6,790 ) $ 112,752 $ (768 ) $ 105,194 Total Assets $ 1,415,186 $ 2,239,214 $ 202,536 $ 3,856,936 (1) Included in unrealized carried interest income (loss) from affiliates for the three months ended September 30, 2015 was a reversal of previously realized carried interest income due to the general partner obligation to return previously distributed carried interest income with respect to Fund V, APC, ANRP I, ACLF, COF II and certain SIAs within the credit segment of $1.4 million , $0.7 million , $3.5 million , $13.8 million , $0.1 million and $1.7 million , respectively. The general partner obligation is recognized based upon a hypothetical liquidation of the fund’s net assets as of the reporting date. The actual determination and any required payment of any such general partner obligation would not take place until the final disposition of a fund’s investments based on the contractual termination of the fund or as otherwise set forth in the respective limited partnership agreement of the fund. As of and for the Three Months Ended Private Equity Segment Credit Segment Real Estate Segment Total Reportable Segments Revenues: Advisory and transaction fees from affiliates, net $ 11,925 $ 58,593 $ 803 $ 71,321 Management fees from affiliates 76,848 139,645 11,200 227,693 Carried interest income from affiliates: Unrealized losses (449,506 ) (107,159 ) (3,606 ) (560,271 ) Realized gains 369,968 132,429 — 502,397 Total Revenues 9,235 223,508 8,397 241,140 Expenses: Compensation and benefits: Salary, bonus and benefits 23,792 60,422 7,610 91,823 Equity-based compensation 8,028 5,590 1,007 14,626 Profit sharing expense (19,270 ) 16,002 (3,270 ) (6,538 ) Total compensation and benefits 12,550 82,014 5,347 99,911 Other expenses 16,600 40,579 5,588 62,767 Total Expenses 29,150 122,593 10,935 162,678 Other Income: Net interest expense (2,634 ) (3,776 ) (666 ) (7,076 ) Net gains from investment activities — 116 — 116 Income from equity method investments 1,069 3,115 641 4,825 Other income, net (1,592 ) 111 (345 ) (1,826 ) Total Other Income (3,157 ) (434 ) (370 ) (3,961 ) Non-Controlling Interests — (3,174 ) — (3,174 ) Economic Income (Loss) $ (23,072 ) $ 97,307 $ (2,908 ) $ 71,327 Total Assets $ 2,462,241 $ 2,250,020 $ 203,889 $ 4,916,150
Reconciliation of Revenue from Segments to Consolidated	The following table reconciles the total segments to Apollo Global Management, LLC’s condensed consolidated financial statements as of and for the three months ended September 30, 2015 and 2014: As of and for the Three Months Ended As of and for the Three Months Ended Total Reportable Segments Consolidation Adjustments and Other Consolidated Total Reportable Segments Consolidation Adjustments and Other Consolidated Revenues $ 181,463 $ 11,805 (1) $ 193,268 $ 241,140 $ (20,005 ) (1) $ 221,135 Expenses 151,467 23,444 (2) 174,911 162,678 14,710 (2) 177,388 Other income (loss) 77,895 6,898 (3) 84,793 (3,961 ) (78,174 ) (3) (82,135 ) Non-Controlling Interests (2,697 ) (52,811 ) (55,508 ) (3,174 ) 73,148 69,974 Economic Income $ 105,194 (4) N/A N/A $ 71,327 (4) N/A N/A Total Assets $ 3,856,936 $ 961,114 (5) $ 4,818,050 $ 4,916,150 $ 19,181,455 (5) $ 24,097,605 (1) Represents advisory fees, management fees and carried interest income earned from consolidated VIEs which are eliminated in consolidation. Includes non-cash revenues related to equity awards granted by unconsolidated affiliates to employees of the Company. (2) Represents the addition of expenses of consolidated funds and the consolidated VIEs and transaction-related charges. Transaction-related charges includes equity-based compensation charges, the amortization of intangible assets, contingent consideration and certain other charges associated with acquisitions. (3) Results from the following: For the Three Months Ended September 30, 2015 2014 Net losses from investment activities $ (293 ) $ (103 ) Net gains from investment activities of consolidated variable interest entities 911 (98,848 ) Losses from equity method investments (1,004 ) (379 ) Other income, net 7,284 21,156 Total Consolidation Adjustments $ 6,898 $ (78,174 ) (4) The reconciliation of Economic Income to Net Income Attributable to Apollo Global Management, LLC reported in the condensed consolidated statements of operations consists of the following: For the Three Months Ended September 30, 2015 2014 Economic Income $ 105,194 $ 71,327 Income tax provision (6,591 ) (29,376 ) Net income attributable to Non-Controlling Interests in Apollo Operating Group (55,347 ) (42,955 ) Transaction-related charges and equity-based compensation (6) (2,205 ) 3,214 Net Income Attributable to Apollo Global Management, LLC $ 41,051 $ 2,210 (5) Represents the addition of assets of consolidated funds and the consolidated VIEs. (6) Transaction-related charges include equity-based compensation charges, the amortization of intangible assets, contingent consideration and certain other charges associated with acquisitions. Equity-based compensation adjustment includes non-cash revenues and expenses related to equity awards granted by unconsolidated affiliates to employees of the Company. The following table reconciles the total segments to Apollo Global Management, LLC’s condensed consolidated financial statements as of and for the nine months ended September 30, 2015 and 2014: As of and for the Nine Months Ended As of and for the Nine Months Ended Total Reportable Segments Consolidation Adjustments and Other Consolidated Total Reportable Segments Consolidation Adjustments and Other Consolidated Revenues $ 832,727 $ 15,292 (1) $ 848,019 $ 1,329,543 $ (44,856 ) (1) $ 1,284,687 Expenses 570,197 73,249 (2) 643,446 783,663 62,213 (2) 845,876 Other income (loss) 111,032 31,723 (3) 142,755 76,108 226,225 (3) 302,333 Non-Controlling Interests (8,766 ) (188,959 ) (197,725 ) (9,554 ) (488,581 ) (498,135 ) Economic Income $ 364,796 (4) N/A N/A $ 612,434 (4) N/A N/A Total Assets $ 3,856,936 $ 961,114 (5) $ 4,818,050 $ 4,916,150 $ 19,181,455 (5) $ 24,097,605 (1) Represents advisory fees, management fees and carried interest income earned from consolidated VIEs which are eliminated in consolidation. Includes non-cash revenues related to equity awards granted by unconsolidated affiliates to employees of the Company. (2) Represents the addition of expenses of consolidated funds and the consolidated VIEs and transaction-related charges. Transaction-related charges includes equity-based compensation charges, the amortization of intangible assets, contingent consideration and certain other charges associated with acquisitions. (3) Results from the following: For the Nine Months Ended 2015 2014 Net gains from investment activities $ 204 $ 204,938 Net gain (loss) from investment activities of consolidated variable interest entities 8,039 (7,688 ) Loss from equity method investments (138 ) (931 ) Other income, net 23,618 29,906 Total Consolidation Adjustments $ 31,723 $ 226,225 (4) The reconciliation of Economic Income to Net Income Attributable to Apollo Global Management, LLC reported in the condensed consolidated statements of operations consists of the following: For the Nine Months Ended 2015 2014 Economic Income $ 364,796 $ 612,434 Income tax provision (21,197 ) (96,962 ) Net income attributable to Non-Controlling Interests in Apollo Operating Group (186,507 ) (350,049 ) Transaction-related charges and equity-based compensation (6) (28,686 ) (19,376 ) Net Income Attributable to Apollo Global Management, LLC $ 128,406 $ 146,047 (5) Represents the addition of assets of consolidated funds and the consolidated VIEs. (6) Transaction-related charges include equity-based compensation charges, the amortization of intangible assets, contingent consideration and certain other charges associated with acquisitions. Equity-based compensation adjustment includes non-cash revenues and expenses related to equity awards granted by unconsolidated affiliates to employees of the Company.

ORGANIZATION AND BASIS OF PRE38

ORGANIZATION AND BASIS OF PRESENTATION - Narrative (Detail) - Segment	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Organization And Basis Of Presentation [Line Items]
Number of Operating Segments	4
Economic Interest	0.06%	0.06%
Apollo Global Management, LLC
Organization And Basis Of Presentation [Line Items]
Economic Interest	45.30%
Non-Controlling Interests in Apollo Operating Group
Organization And Basis Of Presentation [Line Items]
Economic Interest	54.70%

SUMMARY OF SIGNIFICANT ACCOUN39

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Detail) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Jan. 01, 2015
Accounting Policies [Abstract]
Carried interest income from affiliates				20.00%
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Change in net income due to new accounting guidance				$ 0
Employer contribution	$ 0		$ 0	$ 0	$ 0
Appropriated Partners' Capital
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Change in equity due to new accounting guidance						$ 3,500,000
Non-Controlling Interests in Consolidated Entities
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Change in net income due to new accounting guidance		$ 4,000,000

INVESTMENTS - Apollo's Investme

INVESTMENTS - Apollo's Investments (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Schedule of Investments [Abstract]
Investments, at fair value	$ 547,397	$ 2,499,128
Equity method investments	550,222	380,878
Total Investments	$ 1,097,619	$ 2,880,006

INVESTMENTS - Net Gains from In

INVESTMENTS - Net Gains from Investment Activities (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Schedule of Investments [Abstract]
Realized gains (losses) on sales of investments	$ 33	$ (12,802)	$ 187	$ (12,649)
Net change in unrealized gains due to changes in fair values	80,917	12,814	107,305	226,535
Net Gains from Investment Activities	$ 80,950	$ 12	$ 107,492	$ 213,886

INVESTMENTS - Summary of Equity

INVESTMENTS - Summary of Equity Method Investments (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 550,222	$ 380,878
Advances to affiliates	42,731	53,693
Private Equity Segment
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	244,204	139,529
Private Equity Segment | AP Alternative Assets, L.P. (AAA)(6)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 64,222	$ 0
% of Ownership	2.37%	0.00%
Private Equity Segment | AAA Investments, L.P. (“AAA Investments”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 1,633	$ 1,293
% of Ownership	0.057%	0.057%
Private Equity Segment | Apollo Investment Fund IV, L.P. (“Fund IV”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 8	$ 8
% of Ownership	0.03%	0.022%
Private Equity Segment | Apollo Investment Fund V, L.P. (“Fund V”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 59	$ 68
% of Ownership	0.043%	0.031%
Private Equity Segment | Apollo Investment Fund VI, L.P. (“Fund VI”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 2,571	$ 6,173
% of Ownership	0.119%	0.114%
Private Equity Segment | Apollo Investment Fund VII, L.P. (“Fund VII”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 62,867	$ 78,286
% of Ownership	1.229%	1.223%
Private Equity Segment | Apollo Investment Fund VIII, L.P. (“Fund VIII”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 86,715	$ 33,099
% of Ownership	2.205%	2.241%
Private Equity Segment | Apollo Natural Resources Partners, L.P. (“ANRP I”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 6,470	$ 5,608
% of Ownership	0.83%	0.807%
Private Equity Segment | Apollo Natural Resources Partners II, L.P. (“ANRP II”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 2,804	$ 0
% of Ownership	2.354%	0.00%
Private Equity Segment | AION Capital Partners Limited (“AION”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 16,559	$ 14,707
% of Ownership	5.958%	6.113%
Private Equity Segment | Apollo Asia Private Credit Fund, L.P. (“APC”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 48	$ 47
% of Ownership	0.044%	0.044%
Private Equity Segment | VC Holdings, L.P. Series A (“Vantium A/B”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 15	$ 12
% of Ownership	6.45%	6.45%
Private Equity Segment | VC Holdings, L.P. Series C (“Vantium C”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 63	$ 48
% of Ownership	2.071%	2.071%
Private Equity Segment | VC Holdings, L.P. Series D (“Vantium D”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 170	$ 180
% of Ownership	6.345%	6.345%
Credit Funds
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 276,094	$ 212,914
Credit Funds | Apollo Special Opportunities Managed Account, L.P. (“SOMA”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 6,344	$ 6,997
% of Ownership	0.816%	0.841%
Credit Funds | Apollo Value Strategic Fund, L.P. (“VIF”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 103	$ 146
% of Ownership	0.087%	0.067%
Credit Funds | Apollo Strategic Value Fund, L.P. (“SVF”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 8	$ 10
% of Ownership	0.035%	0.033%
Credit Funds | Apollo Credit Liquidity Fund, L.P. (“ACLF”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 2,124	$ 4,128
% of Ownership	3.81%	2.771%
Credit Funds | Apollo Credit Opportunity Fund I, L.P. (“COF I”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 1,627	$ 2,298
% of Ownership	1.929%	1.87%
Credit Funds | Apollo Credit Opportunity Fund II, L.P. (“COF II”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 1,957	$ 2,249
% of Ownership	1.502%	1.497%
Credit Funds | Apollo Credit Opportunity Fund III, L.P. (“COF III”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 18,498	$ 13,102
% of Ownership	1.039%	1.061%
Credit Funds | Apollo European Principal Finance Fund, L.P. (“EPF I”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 5,087	$ 7,647
% of Ownership	1.371%	1.449%
Credit Funds | Apollo European Principal Finance Fund II, L.P. (“EPF II”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 43,788	$ 44,523
% of Ownership	1.76%	1.76%
Credit Funds | Apollo Investment Europe II, L.P. (“AIE II”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 2,101	$ 3,203
% of Ownership	4.491%	1.937%
Credit Funds | Apollo Europe Co-Investors III (D), LLC (“AIE III”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 2,952	$ 1,540
% of Ownership	2.914%	2.914%
Credit Funds | Apollo Palmetto Strategic Partnership, L.P. (“Palmetto”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 15,066	$ 14,049
% of Ownership	1.186%	1.186%
Credit Funds | Apollo Senior Floating Rate Fund Inc. (“AFT”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 81	$ 86
% of Ownership	0.034%	0.031%
Credit Funds | Apollo Residential Mortgage, Inc. (“AMTG”) (3)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 4,150	$ 4,263
% of Ownership	0.692%	0.593%
Credit Funds | Apollo European Credit, L.P. (“AEC”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 2,357	$ 2,443
% of Ownership	1.081%	1.081%
Credit Funds | Apollo European Strategic Investments, L.P. (“AESI”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 2,356	$ 3,834
% of Ownership	0.99%	0.99%
Credit Funds | Apollo European Strategic Investments II, L.P. (AESI II”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 818	$ 123
% of Ownership	0.99%	0.99%
Credit Funds | Apollo Centre Street Partnership, L.P. (“ACSP”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 11,919	$ 11,474
% of Ownership	2.485%	2.439%
Credit Funds | Apollo Investment Corporation (“AINV”) (4)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 63,607	$ 64,382
% of Ownership	3.294%	3.057%
Credit Funds | Apollo SK Strategic Investments, L.P. (“SK”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 1,490	$ 1,693
% of Ownership	0.99%	0.99%
Credit Funds | Apollo SPN Investments I, L.P.
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 5,515	$ 5,500
% of Ownership	0.536%	0.72%
Credit Funds | CION Investment Corporation (“CION”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 1,000	$ 1,000
% of Ownership	0.12%	0.206%
Credit Funds | Apollo Tactical Income Fund Inc. (“AIF”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 76	$ 84
% of Ownership	0.03%	0.032%
Credit Funds | Apollo Franklin Partnership, L.P. (“Franklin Fund”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 8,757	$ 9,647
% of Ownership	9.091%	9.091%
Credit Funds | Apollo Zeus Strategic Investments, L.P. (“Zeus”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 7,498	$ 6,404
% of Ownership	3.398%	3.392%
Credit Funds | Apollo Lincoln Fixed Income Fund, L.P.
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 1,957	$ 1,398
% of Ownership	1.014%	0.993%
Credit Funds | Apollo Lincoln Private Credit Fund, L.P.
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 275	$ 194
% of Ownership	0.994%	0.99%
Credit Funds | Apollo Structured Credit Recovery Master Fund III, L.P.
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 1,880	$ 315
% of Ownership	0.293%	0.126%
Credit Funds | Apollo Total Return Fund L.P.
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 163	$ 163
% of Ownership	0.039%	0.046%
Credit Funds | Apollo Credit Short Opportunities Fund L.P.
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 20	$ 19
% of Ownership	0.016%	0.027%
Credit Funds | MidCap FinCo Limited (“MidCap”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 50,223	$ 0
% of Ownership	5.421%	0.00%
Credit Funds | Apollo Energy Opportunity Fund, L.P. (“AEOF”)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 7,621	$ 0
% of Ownership	2.439%	0.00%
Credit Funds | Apollo A-N Credit Fund, L.P.
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 4,445	$ 0
% of Ownership	1.97%	0.00%
Credit Funds | Apollo Tactical Value SPN Investments, L.P.
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 4	$ 0
% of Ownership	0.006%	0.00%
Credit Funds | Apollo Union Street Partners, L.P.
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 227	$ 0
% of Ownership	2.00%	0.00%
Real Estate Segment
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 29,924	$ 28,435
Real Estate Segment | ARI(3)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 14,046	$ 13,989
% of Ownership	1.199%	1.495%
Real Estate Segment | AGRE U.S. Real Estate Fund, L.P.
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 10,376	$ 10,519
% of Ownership	5.00%	1.845%
Real Estate Segment | Apollo U.S. Real Estate Fund II, L.P.
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 1,303	$ 0
% of Ownership	1.96%	0.00%
Real Estate Segment | CPI Capital Partners North America, L.P.
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 97	$ 137
% of Ownership	0.411%	0.408%
Real Estate Segment | CPI Capital Partners Europe, L.P.
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 5	$ 5
% of Ownership	0.001%	0.001%
Real Estate Segment | CPI Capital Partners Asia Pacific, L.P.
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 91	$ 96
% of Ownership	0.039%	0.039%
Real Estate Segment | Apollo GSS Holding (Cayman), L.P.
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 3,546	$ 3,564
% of Ownership	4.75%	4.75%
Real Estate Segment | BEA/AGRE China Real Estate Fund, L.P.
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 90	$ 87
% of Ownership	1.031%	1.031%
Real Estate Segment | Apollo-IC, L.P. (Shanghai Village)
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 359	$ 0
% of Ownership	2.96%	0.00%
Real Estate Segment | AGRE Cobb West Investor L.P.
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 11	$ 0
% of Ownership	0.407%	0.00%
Real Estate Segment | Other
Income Loss From Equity Method Investments [Line Items]
Equity Held as of	$ 0	$ 38
% of Ownership	0.00%

INVESTMENTS - Equity Method Inv

INVESTMENTS - Equity Method Investment Income (Details) - Investment in Athene Holding - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Schedule of Equity Method Investments [Line Items]
Revenues	$ 562	$ 841	$ 2,483	$ 2,941
Expenses	441	719	1,982	2,651
Income before income tax provision	121	122	501	290
Income tax provision (benefit)	19	(15)	46	17
Net income	102	137	455	273
Net income (loss) attributable to Non-controlling Interests	3	(1)	1	0
Net income available to Athene common shareholders	$ 99	$ 138	$ 454	$ 273

VARIABLE INTEREST ENTITIES - Ne

VARIABLE INTEREST ENTITIES - Net Gains (Losses) from Investment Activities of Consolidated VIEs (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net unrealized gains (losses) from investment activities	$ (2,198)	$ (171,640)	$ 4,045	$ (162,102)
Net realized gains from investment activities	640	21,170	4,471	37,992
Net gains (losses) from investment activities	(1,558)	(150,470)	8,516	(124,110)
Net unrealized gains (losses) from debt	9,727	(70,917)	2,798	(77,445)
Net realized gains from debt	0	101,388	0	101,745
Net gains from debt	9,727	30,471	2,798	24,300
Interest and other income	9,994	163,747	28,042	481,883
Interest and other expenses	(17,252)	(142,596)	(31,317)	(389,761)
Net gains (losses) from Investment Activities of Consolidated Variable Interest Entities	$ 911	$ (98,848)	$ 8,039	$ (7,688)

VARIABLE INTEREST ENTITIES - Pr

VARIABLE INTEREST ENTITIES - Principal Provisions of Debt (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Principal Outstanding	$ 842,190	$ 14,643,221
Consolidated Variable Interest Entities
Debt Instrument [Line Items]
Debt, at fair value	825,322	14,123,100
Assets, fair value	1,024,700	17,070,800
Senior Secured Notes
Debt Instrument [Line Items]
Principal Outstanding	$ 757,405	$ 13,459,387
Weighted Average Interest Rate	2.20%	1.60%
Weighted Average Remaining Maturity in Years	12 years 3 months 18 days	7 years 9 months 18 days
Subordinated Notes
Debt Instrument [Line Items]
Principal Outstanding	$ 84,785	$ 1,183,834
Weighted Average Remaining Maturity in Years	15 years 4 months 24 days	9 years

VARIABLE INTEREST ENTITIES - Ca

VARIABLE INTEREST ENTITIES - Carrying Amounts of Assets and Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Variable Interest Entity [Line Items]
Total Assets	$ 4,714,739	$ 11,676,038
Total Liabilities	1,077,515	729,515
Apollo Exposure	175,967	30,752
Investments	1,097,619	2,880,006
Cumulative revenues recognized if existing investments become worthless	2,526,500	2,892,800
Variable Interest Entities
Variable Interest Entity [Line Items]
Cash	152,900	794,500
Investments	4,530,400	10,456,000
Receivables	31,400	425,600
Debt and other payables	$ 1,077,500	362,000
Securities sold		359,400
Capital withdrawals payable		$ 8,200

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2014	Sep. 30, 2015
Variable Interest Entity [Line Items]
Assets of entities deconsolidated		$ 14,600
Liabilities of entities deconsolidated		13,700
Investment in CLO		43.8
Unfunded Contingent Liability		$ 0.2
Apollo Global Management, LLC | Champ Limited Partnership
Variable Interest Entity [Line Items]
Ownership in VIE	25.60%	100.00%
Ownership of related party	35.00%
Investment in VIE		$ 18.2

FAIR VALUE MEASUREMENTS OF FI48

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS - Valuation of Financial Assets and Liabilities by the Fair Value Heirarchy (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Sep. 30, 2015
Consolidated Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	$ 17,070,800	$ 1,024,700
Debt, at fair value	14,123,100	825,322
Other liabilities at fair value		11,700
Consolidated Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	15,658,653	943,950
Other liabilities at fair value	$ 13,300
AAA Investments, L.P. (“AAA Investments”)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percent of assets of consolidated funds, excluding VIE	98.60%
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	$ 18,219,073	1,491,347
Liabilites, fair value	14,232,500	918,674
Fair Value, Measurements, Recurring | Consolidated Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	15,658,653	943,950
Debt, at fair value	14,136,374	837,068
Fair Value, Measurements, Recurring | Contingent Consideration Obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration obligations	96,126	81,606
Fair Value, Measurements, Recurring | Investments held by Apollo Senior Loan Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	29,896	25,986
Cost Investments at Fair Value	30,100	26,172
Fair Value, Measurements, Recurring | AAA Investments, L.P. (“AAA Investments”)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	2,144,118
Cost Investments at Fair Value	1,494,358
Fair Value, Measurements, Recurring | Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	600	469
Cost Investments at Fair Value	3,318	621
Fair Value, Measurements, Recurring | Investment in Athene Holding
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value		495,942
Cost Investments at Fair Value		387,526
Fair Value, Measurements, Recurring | Investment in RCAP
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value		25,000
Cost Investments at Fair Value		25,000
Fair Value, Measurements, Recurring | Athene And AAA Derivative
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	324,514
Cost Investments at Fair Value	324,293
Fair Value, Measurements, Recurring | Total investments at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	2,499,128	547,397
Cost Investments at Fair Value	1,852,069	439,319
Fair Value, Measurements, Recurring | AAA and Athene Receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	61,292
Level I | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	176	0
Liabilites, fair value	0	0
Level I | Fair Value, Measurements, Recurring | Consolidated Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	176	0
Debt, at fair value	0	0
Level I | Fair Value, Measurements, Recurring | Contingent Consideration Obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration obligations	0	0
Level I | Fair Value, Measurements, Recurring | Investments held by Apollo Senior Loan Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	0	0
Level I | Fair Value, Measurements, Recurring | AAA Investments, L.P. (“AAA Investments”)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	0
Level I | Fair Value, Measurements, Recurring | Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	0	0
Level I | Fair Value, Measurements, Recurring | Investment in Athene Holding
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value		0
Level I | Fair Value, Measurements, Recurring | Investment in RCAP
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value		0
Level I | Fair Value, Measurements, Recurring | Athene And AAA Derivative
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	0
Level I | Fair Value, Measurements, Recurring | Total investments at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	0	0
Level I | Fair Value, Measurements, Recurring | AAA and Athene Receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	0
Level II | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	13,161,101	838,209
Liabilites, fair value	1,793,353	825,322
Level II | Fair Value, Measurements, Recurring | Consolidated Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	13,135,564	815,644
Debt, at fair value	1,793,353	825,322
Level II | Fair Value, Measurements, Recurring | Contingent Consideration Obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration obligations	0	0
Level II | Fair Value, Measurements, Recurring | Investments held by Apollo Senior Loan Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	25,537	22,565
Level II | Fair Value, Measurements, Recurring | AAA Investments, L.P. (“AAA Investments”)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	0
Level II | Fair Value, Measurements, Recurring | Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	0	0
Level II | Fair Value, Measurements, Recurring | Investment in Athene Holding
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value		0
Level II | Fair Value, Measurements, Recurring | Investment in RCAP
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value		0
Level II | Fair Value, Measurements, Recurring | Athene And AAA Derivative
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	0
Level II | Fair Value, Measurements, Recurring | Total investments at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	25,537	22,565
Level II | Fair Value, Measurements, Recurring | AAA and Athene Receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	0
Level III | Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	600
Level III | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value	5,057,796	653,138
Liabilites, fair value	12,439,147	93,352
Level III | Fair Value, Measurements, Recurring | Consolidated Variable Interest Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	2,522,913	128,306
Debt, at fair value	12,343,021	11,746
Level III | Fair Value, Measurements, Recurring | Contingent Consideration Obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration obligations	96,126	81,606
Level III | Fair Value, Measurements, Recurring | Investments held by Apollo Senior Loan Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	4,359	3,421
Level III | Fair Value, Measurements, Recurring | AAA Investments, L.P. (“AAA Investments”)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	2,144,118
Level III | Fair Value, Measurements, Recurring | Other Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	600	469
Level III | Fair Value, Measurements, Recurring | Investment in Athene Holding
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value		495,942
Level III | Fair Value, Measurements, Recurring | Investment in RCAP
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value		25,000
Level III | Fair Value, Measurements, Recurring | Athene And AAA Derivative
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	324,514
Level III | Fair Value, Measurements, Recurring | Total investments at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	2,473,591	$ 524,832
Level III | Fair Value, Measurements, Recurring | AAA and Athene Receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	$ 61,292

FAIR VALUE MEASUREMENTS OF FI49

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS - Schedule of Level I to Level II Transfers (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value Disclosures [Abstract]
Fair Value, Assets, Level 1 to Level 2 Transfers, in Period, Amount	$ 0	$ 0	$ 0	$ 4,084,000
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount	0	0	0	0
Fair Value, Liabilities, Level 1 to Level 2 Transfers, Amount	$ 0	$ 0	$ 0	$ 0

FAIR VALUE MEASUREMENTS OF FI50

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS - Changes in Fair Value in Financial Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Jan. 01, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Cumulative effect adjustment from adoption of accounting principles					$ 4,069,263
AAA Investments, L.P. (“AAA Investments”)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period			$ 2,244,200
Level III
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	$ 549,437	$ 4,514,089	5,057,796	$ 4,033,562
Cumulative effect adjustment from adoption of accounting principles					(4,543,248)
Elimination of investments attributable to consolidation of VIEs		17,762		16,666
Fees		57,979	1,942	174,237
Purchases	31,510	675,234	55,619	995,956
Sales of investments/distributions	(8,272)	(540,120)	(20,545)	(839,755)
Net realized gains	565	(164)	3,336	2,886
Changes in net unrealized gains (losses)	82,494	20,438	109,784	251,027
Cumulative translation adjustment	325		(9,519)
Transfer into Level III(1)	24,558	316,229	58,838	898,475
Transfer out of Level III(1)	(27,479)	(393,413)	(60,865)	(865,020)
Settlement of derivatives(2)		0	0	0
Balance, End of Period	653,138	4,668,034	653,138	4,668,034
Level III | Gains on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	(80,792)	(13,224)	(107,539)	(227,404)
Level III | Consolidated Variable Interest Entities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	132,079	2,051,862	2,522,913	1,919,537
Cumulative effect adjustment from adoption of accounting principles					(2,399,130)
Elimination of investments attributable to consolidation of VIEs		17,762		16,666
Fees			0
Purchases	4,562	673,384	25,923	988,308
Sales of investments/distributions	(5,736)	(490,105)	(15,359)	(788,089)
Net realized gains	553	12,707	3,300	(8,495)
Changes in net unrealized gains (losses)	1,369	7,214	1,915	33,826
Cumulative translation adjustment	325		(9,519)
Transfer into Level III(1)	21,411	315,852	53,887	897,616
Transfer out of Level III(1)	(26,257)	(393,092)	(55,624)	(863,785)
Settlement of derivatives(2)		0		0
Balance, End of Period	128,306	2,195,584	128,306	2,195,584
Level III | Consolidated Variable Interest Entities | Gains on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	0	0	0	0
Level III | Consolidated Variable Interest Entities | Unrealized gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	78	(18,277)	(2,262)	(34,543)
Level III | AAA Investments, L.P. (“AAA Investments”)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period		2,146,979	2,144,118	1,942,051
Cumulative effect adjustment from adoption of accounting principles					(2,144,118)
Fees			0
Changes in net unrealized gains (losses)		125		205,053
Transfer into Level III(1)			0
Settlement of derivatives(2)		0		0
Balance, End of Period		2,147,104		2,147,104
Level III | AAA Investments, L.P. (“AAA Investments”) | Gains on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)		(125)	0	(205,053)
Level III | AAA Investments, L.P. (“AAA Investments”) | Consolidated Variable Interest Entities | Unrealized gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)		0		0
Level III | Investments held by Apollo Senior Loan Fund
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	2,003	987	4,359	892
Cumulative effect adjustment from adoption of accounting principles					0
Fees			0
Purchases	1,945	1,726	4,424	3,716
Sales of investments/distributions	(2,482)	(15)	(5,085)	(1,524)
Net realized gains	12		36	10
Changes in net unrealized gains (losses)	18	11	(23)	47
Cumulative translation adjustment	0
Transfer into Level III(1)	3,147	377	4,951	859
Transfer out of Level III(1)	(1,222)	(321)	(5,241)	(1,235)
Settlement of derivatives(2)		0		0
Balance, End of Period	3,421	2,765	3,421	2,765
Level III | Investments held by Apollo Senior Loan Fund | Gains on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	315	(11)	353	(47)
Level III | Investments held by Apollo Senior Loan Fund | Consolidated Variable Interest Entities | Unrealized gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	0	0		0
Level III | Other Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	629	51,172	600	40,373
Cumulative effect adjustment from adoption of accounting principles					0
Fees			0
Purchases	3	124	272	1,849
Sales of investments/distributions	(54)	(50,000)	(101)	(50,142)
Net realized gains		(12,871)		(12,871)
Changes in net unrealized gains (losses)	(109)	12,996	(302)	22,212
Cumulative translation adjustment	0
Transfer into Level III(1)			0
Settlement of derivatives(2)		0		0
Balance, End of Period	469	1,421	469	1,421
Level III | Other Investments | Gains on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	109	(12,996)	302	(22,212)
Level III | Other Investments | Consolidated Variable Interest Entities | Unrealized gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	0	0		0
Level III | Investment in Athene Holding
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	414,726	207,253	324,514
Cumulative effect adjustment from adoption of accounting principles					0
Fees		0	0
Purchases				2,083
Changes in net unrealized gains (losses)	81,216	92	108,194	92
Cumulative translation adjustment	0
Transfer into Level III(1)			0
Settlement of derivatives(2)		57,968	63,234	263,138
Balance, End of Period	495,942	265,313	495,942	265,313
Level III | Investment in Athene Holding | Gains on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	(81,216)	(92)	(108,194)	(92)
Level III | Investment in Athene Holding | Consolidated Variable Interest Entities | Unrealized gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	0	0	0	0
Level III | Investment in RCAP
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period			0
Cumulative effect adjustment from adoption of accounting principles					0
Fees			0
Purchases	25,000		25,000
Sales of investments/distributions			0
Net realized gains			0
Changes in net unrealized gains (losses)			0
Cumulative translation adjustment	0		0
Transfer into Level III(1)			0
Transfer out of Level III(1)			0
Settlement of derivatives(2)			0
Balance, End of Period	25,000		25,000
Level III | Investment in RCAP | Gains on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	0		0
Level III | Investment in RCAP | Consolidated Variable Interest Entities | Unrealized gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	0		0
Level III | AAA and Athene Receivable
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period		55,836	61,292
Cumulative effect adjustment from adoption of accounting principles					$ 0
Elimination of investments attributable to consolidation of VIEs				0
Fees		57,979	1,942	113,815
Purchases			0
Sales of investments/distributions			0
Net realized gains			0
Changes in net unrealized gains (losses)			0
Cumulative translation adjustment			0
Transfer into Level III(1)			0
Transfer out of Level III(1)			0
Settlement of derivatives(2)		(57,968)	(63,234)	(57,968)
Balance, End of Period	0	55,847	0	55,847
Level III | AAA and Athene Receivable | Gains on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)		0	0	0
Level III | AAA and Athene Receivable | Consolidated Variable Interest Entities | Unrealized gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)		0	0	0
Level III | Athene And AAA Derivative
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period				130,709
Fees				60,422
Net realized gains				24,242
Changes in net unrealized gains (losses)				(10,203)
Settlement of derivatives(2)				(205,170)
Balance, End of Period		$ 0		0
Level III | Athene And AAA Derivative | Gains on investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)				0
Level III | Athene And AAA Derivative | Consolidated Variable Interest Entities | Unrealized gains (losses)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)				$ 0
Level III | Net Asset Value | Consolidated Variable Interest Entities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, End of Period	6,722		6,722
Level III | Third Party Pricing | Investments held by Apollo Senior Loan Fund
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, End of Period	3,421		3,421
Level III | Discounted Cash Flows | Investment in Athene Holding
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, End of Period	495,942		495,942
Level III | Discounted Cash Flows | Investment in RCAP
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, End of Period	$ 25,000		$ 25,000

FAIR VALUE MEASUREMENTS OF FI51

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS - Changes in Fair Value in Financial Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Net realized gains	$ 0	$ (101,388)	$ 0	$ (101,745)
Other income
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Gains (Losses) on Extinguishment of Debt				13,400
Level III
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	104,682	10,326,556	12,439,147	10,129,658
Elimination of debt attributable to consolidation of VIEs	0	(19,982)	0	(13,258)
Adoption of accounting guidance			(11,433,815)	0
Additions	0	2,573,593	0	3,469,560
Payments/Extinguishment(3)	(3,026)	(514,279)	(12,746)	(1,380,141)
Net realized gains	0	101,388	0	101,745
Changes in net unrealized (gains) losses(2)	(8,336)	66,330	(10,018)	60,112
Cumulative Translation Adjustment	32	0	(92,258)	0
Transfers Into Level 3	0	87,794	0	461,865
Transfers out of Level 3	0	(33,418)	(796,958)	(240,845)
Balance, End of Period	93,352	12,385,206	93,352	12,385,206
Level III | Contingent Consideration Obligations
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	92,968	115,220	96,126	135,511
Adoption of accounting guidance			0	0
Payments/Extinguishment(3)	(3,026)	(19,043)	(12,746)	(44,126)
Changes in net unrealized (gains) losses(2)	(8,336)	734	(1,774)	5,526
Cumulative Translation Adjustment	0	0	0	0
Transfers out of Level 3			0	0
Balance, End of Period	81,606	96,911	81,606	96,911
Level III | Consolidated Variable Interest Entities | Debt
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	11,714	10,211,336	12,343,021	9,994,147
Elimination of debt attributable to consolidation of VIEs		(19,982)		(13,258)
Adoption of accounting guidance			(11,433,815)	0
Additions		2,573,593		3,469,560
Payments/Extinguishment(3)		(495,236)		(1,336,015)
Net realized gains		101,388		101,745
Changes in net unrealized (gains) losses(2)		65,596	(8,244)	54,586
Cumulative Translation Adjustment	32	0	(92,258)	0
Transfers Into Level 3		87,794		461,865
Transfers out of Level 3		(33,418)	(796,958)	(240,845)
Balance, End of Period	11,746	12,288,295	11,746	12,288,295
Level III | Consolidated Variable Interest Entities | Unrealized gains (losses)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized (gains) losses(2)	0	(21,716)	0	(66,139)
Level III | Consolidated Variable Interest Entities | Unrealized gains (losses) | Debt
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized (gains) losses(2)		$ (21,716)		$ (66,139)
Discounted Cash Flows | Level III | Contingent Consideration Obligations
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period			96,126
Balance, End of Period	$ 81,606		$ 81,606

FAIR VALUE MEASUREMENTS OF FI52

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS - Quantitative Inputs and Assumptions used for Financial Assets and Liabilities Categories (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)	Jun. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2013USD ($)
Weighted Average
Fair Value Inputs, Quantitative Information [Abstract]
Probability of Default		2.00%
Subordinated Notes | Minimum | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
Discount rate		10.00%
Probability of Default		1.00%
Subordinated Notes | Maximum | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
Discount rate		12.50%
Probability of Default		2.00%
Senior Secured Notes | Minimum | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
Discount rate		1.60%
Recovery rate		15.00%
Senior Secured Notes | Maximum | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
Discount rate		1.80%
Recovery rate		75.00%
Contingent Consideration Obligations | Minimum | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
Discount rate	10.00%	10.00%
Contingent Consideration Obligations | Maximum | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
Discount rate	18.00%	18.00%
AAA Investments, L.P. (“AAA Investments”)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Assets		$ 2,244,200
Consolidated Variable Interest Entities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 943,950	15,658,653
Variable Interest Entities
Fair Value Inputs, Quantitative Information [Abstract]
Net assets allocated to general partner		865,900
Level III
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Assets	653,138	5,057,796	$ 549,437	$ 4,668,034	$ 4,514,089	$ 4,033,562
Fair Value, Liabilities	93,352	$ 12,439,147	104,682	12,385,206	10,326,556	10,129,658
Level III | Subordinated Notes | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
Recovery rate		75.00%
Level III | Subordinated Notes | Weighted Average | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
Discount rate		11.50%
Probability of Default		1.70%
Recovery rate		75.00%
Level III | Corporate Notes And Loans | Third Party Pricing
Fair Value Inputs, Quantitative Information [Abstract]
Probability of Default		2.00%
Level III | Corporate Notes And Loans | Weighted Average | Third Party Pricing
Fair Value Inputs, Quantitative Information [Abstract]
Discount rate		1.70%
Recovery rate		69.00%
Level III | Contingent Consideration Obligations
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Liabilities	81,606	$ 96,126	92,968	96,911	115,220	135,511
Level III | Contingent Consideration Obligations | Discounted Cash Flows
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Liabilities	$ 81,606	$ 96,126
Level III | Contingent Consideration Obligations | Weighted Average | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
Discount rate	16.30%	15.70%
Level III | AAA Investments, L.P. (“AAA Investments”)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Assets		$ 2,144,118		2,147,104	2,146,979	1,942,051
Level III | AAA Investments, L.P. (“AAA Investments”) | Net Asset Value
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		2,144,118
Level III | Investments held by Apollo Senior Loan Fund
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Assets	$ 3,421	4,359	2,003	2,765	987	892
Level III | Investments held by Apollo Senior Loan Fund | Third Party Pricing
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		4,359
Fair Value, Assets	3,421
Level III | Other Investments
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		600
Fair Value, Assets	469	600	629	1,421	51,172	40,373
Level III | Investment in RCAP
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Assets	25,000	0
Level III | Investment in RCAP | Discounted Cash Flows
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Assets	25,000
Level III | Investment in Athene Holding
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Assets	495,942	324,514	414,726	265,313	207,253
Level III | Investment in Athene Holding | Discounted Cash Flows
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		324,514
Fair Value, Assets	$ 495,942
Level III | Investment in Athene Holding | Market Approach Valuation Technique [Member]
Fair Value Inputs, Quantitative Information [Abstract]
Comparable Multiple	1.2
Level III | Investment in Athene Holding | Weighted Average | Market Approach Valuation Technique [Member]
Fair Value Inputs, Quantitative Information [Abstract]
Comparable Multiple	1.2
Level III | AAA and Athene Receivable
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Assets	$ 0	61,292		55,847	55,836
Level III | Athene And AAA Derivative
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Assets				0		130,709
Level III | Athene And AAA Derivative | Discounted Cash Flows
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 61,292
Fair Value Inputs, Quantitative Information [Abstract]
Discount rate		15.00%
Level III | Athene And AAA Derivative | Weighted Average | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
Discount rate		15.00%
Level III | Bank Debt Term Loans | Minimum | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
Discount rate		7.10%
Level III | Bank Debt Term Loans | Maximum | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
Discount rate		14.00%
Level III | Bank Debt Term Loans | Weighted Average | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
Discount rate		8.40%
Level III | Common Stock | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
Discount rate	15.10%
Level III | Common Stock | Market Approach Valuation Technique [Member]
Fair Value Inputs, Quantitative Information [Abstract]
Comparable Multiple	0.53	5.8
Implied multiple		5.2
Level III | Common Stock | Weighted Average | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
Discount rate	15.10%
Level III | Common Stock | Weighted Average | Market Approach Valuation Technique [Member]
Fair Value Inputs, Quantitative Information [Abstract]
Comparable Multiple	0.53	5.8
Implied multiple		5.2
Level III | Consolidated Variable Interest Entities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Assets	$ 128,306	$ 2,522,913	132,079	2,195,584	2,051,862	1,919,537
Level III | Consolidated Variable Interest Entities | Net Asset Value
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Assets	6,722
Level III | Consolidated Variable Interest Entities | Subordinated Notes | Discounted Cash Flows
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Liabilities		908,831
Level III | Consolidated Variable Interest Entities | Subordinated Notes | Other Valuation Technique
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Liabilities		106,090
Level III | Consolidated Variable Interest Entities | Senior Secured Notes | Discounted Cash Flows
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Liabilities		9,283,534
Level III | Consolidated Variable Interest Entities | Corporate Notes And Loans | Third Party Pricing
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Liabilities		2,031,292
Level III | Consolidated Variable Interest Entities | Contingent Consideration Obligations | Third Party Pricing
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Liabilities	11,746	13,274
Level III | Consolidated Variable Interest Entities | Debt of Consolidated VIEs
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Liabilities	11,746	12,343,021	$ 11,714	$ 12,288,295	$ 10,211,336	$ 9,994,147
Level III | Consolidated Variable Interest Entities | Bank Debt Term Loans | Third Party Pricing
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Assets	41,018	1,340,296
Level III | Consolidated Variable Interest Entities | Bank Debt Term Loans | Discounted Cash Flows
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Assets		87,314
Level III | Consolidated Variable Interest Entities | Corporate Loans/Bonds | Third Party Pricing
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Assets	26,053	1,009,873
Level III | Consolidated Variable Interest Entities | Common Stock
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Assets		58,923
Level III | Consolidated Variable Interest Entities | Common Stock | Third Party Pricing
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Assets	54,513	930
Level III | Consolidated Variable Interest Entities | Common Stock | Specific Transaction
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Assets		20,967
Level III | Consolidated Variable Interest Entities | Common Stock | Market Approach Valuation Technique [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value, Assets		4,610
Fair Value, Measurements, Recurring | AAA Investments, L.P. (“AAA Investments”)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		2,144,118
Fair Value, Measurements, Recurring | Investments held by Apollo Senior Loan Fund
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	25,986	29,896
Fair Value, Measurements, Recurring | Other Investments
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	469	600
Fair Value, Measurements, Recurring | Investment in RCAP
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	25,000
Fair Value, Measurements, Recurring | Investment in Athene Holding
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	495,942
Fair Value, Measurements, Recurring | AAA and Athene Receivable
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		61,292
Fair Value, Measurements, Recurring | Athene And AAA Derivative
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		324,514
Fair Value, Measurements, Recurring | Level III | AAA Investments, L.P. (“AAA Investments”)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		2,144,118
Fair Value, Measurements, Recurring | Level III | Investments held by Apollo Senior Loan Fund
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	3,421	4,359
Fair Value, Measurements, Recurring | Level III | Other Investments
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	469	600
Fair Value, Measurements, Recurring | Level III | Investment in RCAP
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	25,000
Fair Value, Measurements, Recurring | Level III | Investment in Athene Holding
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 495,942
Fair Value, Measurements, Recurring | Level III | AAA and Athene Receivable
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		61,292
Fair Value, Measurements, Recurring | Level III | Athene And AAA Derivative
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 324,514

CARRIED INTEREST RECEIVABLE - C

CARRIED INTEREST RECEIVABLE - Carried Interest Receivable from Private Equity and Capital Markets Funds (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Receivables [Line Items]
Total Carried Interest Receivable	$ 688,886	$ 911,666
Private Equity Segment
Receivables [Line Items]
Total Carried Interest Receivable	421,133	672,119
Credit
Receivables [Line Items]
Total Carried Interest Receivable	242,250	226,430
Real Estate
Receivables [Line Items]
Total Carried Interest Receivable	$ 25,503	$ 13,117

CARRIED INTEREST RECEIVABLE -54

CARRIED INTEREST RECEIVABLE - Carried Interest Receivable Balance (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Carried Interest Receivables [Roll Forward]
January 1, 2015		$ 911,666
Change in fair value of funds(1)		193,363
Fund distributions to the Company		(463,537)
Adoption of new accounting guidance		47,394
September 30, 2015	$ 688,886	688,886
Private Equity Segment
Carried Interest Receivables [Roll Forward]
January 1, 2015		672,119
Change in fair value of funds(1)		85,631
Fund distributions to the Company		(336,617)
Adoption of new accounting guidance		0
September 30, 2015	421,133	421,133
Credit
Carried Interest Receivables [Roll Forward]
January 1, 2015		226,430
Change in fair value of funds(1)		99,934
Fund distributions to the Company		(124,472)
Adoption of new accounting guidance		40,358
September 30, 2015	242,250	242,250
Real Estate
Carried Interest Receivables [Roll Forward]
January 1, 2015		13,117
Change in fair value of funds(1)		7,798
Fund distributions to the Company		(2,448)
Adoption of new accounting guidance		7,036
September 30, 2015	25,503	25,503
Fund V
Carried Interest Receivable Rollforward [Line Items]
Reversal of GP Obligation	1,400	10,500
Apollo Asia Private Credit Fund, L.P. (“APC”)
Carried Interest Receivable Rollforward [Line Items]
Reversal of GP Obligation	700	700
Apollo Natural Resources Partners, L.P. (“ANRP I”)
Carried Interest Receivable Rollforward [Line Items]
Reversal of GP Obligation	3,500	3,500
Apollo Credit Liquidity Fund, L.P. (“ACLF”)
Carried Interest Receivable Rollforward [Line Items]
Reversal of GP Obligation	13,800	19,700
Certain Credit Funds
Carried Interest Receivable Rollforward [Line Items]
Reversal of GP Obligation	$ 1,700	$ 28,800

PROFIT SHARING PAYABLE - Summar

PROFIT SHARING PAYABLE - Summary of Profit Sharing From Private Equity, Credit, and Real Estate Funds (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Profit Sharing Payable Summary [Line Items]
Profit sharing payable	$ 366,661	$ 434,852
Private Equity Segment
Profit Sharing Payable Summary [Line Items]
Profit sharing payable	179,462	240,595
Credit
Profit Sharing Payable Summary [Line Items]
Profit sharing payable	176,329	186,307
Real Estate Segment
Profit Sharing Payable Summary [Line Items]
Profit sharing payable	$ 10,870	$ 7,950

PROFIT SHARING PAYABLE - Rollfo

PROFIT SHARING PAYABLE - Rollforward Summary of Profit Sharing From Private Equity, Credit, and Real Estate Funds (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Profit Sharing Payable Rollforward [Roll Forward]
January 1, 2015	$ 434,852
Profit sharing expense	102,674
Payments/other	(170,865)
September 30, 2015	366,661
Private Equity Segment
Profit Sharing Payable Rollforward [Roll Forward]
January 1, 2015	240,595
Profit sharing expense	66,915
Payments/other	(128,048)
September 30, 2015	179,462
Credit
Profit Sharing Payable Rollforward [Roll Forward]
January 1, 2015	186,307
Profit sharing expense	31,697
Payments/other	(41,675)
September 30, 2015	176,329
Real Estate Segment
Profit Sharing Payable Rollforward [Roll Forward]
January 1, 2015	7,950
Profit sharing expense	4,062
Payments/other	(1,142)
September 30, 2015	$ 10,870

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Income tax provision	$ 6,591	$ 29,376	$ 21,197	$ 96,962
Effective Income Tax Rate	6.40%	(76.50%)	6.10%	13.10%
Tax Intangibles, Period of Recognition			15 years

INCOME TAXES - Change in Income

INCOME TAXES - Change in Income Taxes (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Increase (Decrease) in Deferred Tax Asset for Conversion of Convertible Units	$ 60,648	$ 58,696
Increased/(Decrease) in Tax Receivable Agreement Liability	44,534	47,878
Exchange of AOG units for class A shares	$ 16,114	$ 10,818

DEBT - Summary of Debt (Detail)

DEBT - Summary of Debt (Detail) $ in Thousands, € in Millions	Dec. 09, 2014EUR (€)	Apr. 20, 2007EUR (€)	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Debt			$ 1,031,428	$ 1,034,014
Senior Secured Notes
Debt Instrument [Line Items]
Weighted Average Interest Rate			2.20%	1.60%
2013 AMH Credit Facilities - Term Facility | Line of Credit
Debt Instrument [Line Items]
Debt			$ 500,000	$ 500,000
Weighted Average Interest Rate			1.40%	1.36%
2024 Senior Notes(1) | Senior Secured Notes
Debt Instrument [Line Items]
Debt			$ 499,133	$ 499,058
Weighted Average Interest Rate			4.00%	4.00%
2014 AMI Term Facility I(2) | Line of Credit
Debt Instrument [Line Items]
Debt			$ 14,971	$ 16,204
Weighted Average Interest Rate			2.15%	2.34%
Credit facility borrowing capacity | €		€ 13.4
Credit term (in years)		5 years
2014 AMI Term Facility II(3) | Line of Credit
Debt Instrument [Line Items]
Debt			$ 17,324	$ 18,752
Weighted Average Interest Rate			1.85%	1.93%
Credit facility borrowing capacity | €	€ 15.5
Credit term (in years)	5 years

DEBT - Narrative (Detail)

DEBT - Narrative (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)	May. 30, 2014USD ($)	Dec. 18, 2013USD ($)
Debt Instrument [Line Items]
Debt	$ 1,031,428,000		$ 1,031,428,000		$ 1,034,014,000
Principal payments on debt			0	$ 250,000,000
2013 AMH Credit Facilities - Term Facility
Debt Instrument [Line Items]
Carrying amount of assets under management	40,000,000,000		$ 40,000,000,000
Leverage ratio			4
Term Loan | 2013 AMH Credit Facilities - Term Facility
Debt Instrument [Line Items]
Debt	500,000,000		$ 500,000,000				$ 750,000,000
Amortization of debt	200,000	$ 200,000	600,000	800,000
Debt, at fair value	501,300,000		501,300,000
Term Loan held by affiliate | 2013 AMH Credit Facilities - Term Facility
Debt Instrument [Line Items]
Debt							271,700,000
Revolving Credit Facility
Debt Instrument [Line Items]
Debt	500,000,000		$ 500,000,000
Leverage ratio			3.75
Revolving Credit Facility | 2013 AMH Credit Facilities - Term Facility
Debt Instrument [Line Items]
Debt	$ 500,000,000		$ 500,000,000				$ 500,000,000
Commitment fee percent			0.125%
Effective interest rate	1.46%		1.46%
Line of Credit | 2013 AMH Credit Facilities - Term Facility
Debt Instrument [Line Items]
Debt	$ 500,000,000		$ 500,000,000		500,000,000
Principal payments on debt			250,000,000
Interest expense incurred	2,000,000	1,900,000	$ 5,800,000	7,100,000
Line of Credit | 2013 AMH Credit Facilities - Term Facility | Minimum
Debt Instrument [Line Items]
Spread on variable rate debt			0.125%
Commitment fee percent			0.125%
Line of Credit | 2013 AMH Credit Facilities - Term Facility | Maximum
Debt Instrument [Line Items]
Spread on variable rate debt			0.75%
Commitment fee percent			0.25%
Line of Credit | 2013 AMH Credit Facilities - Term Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Spread on variable rate debt			1.125%
Line of Credit | 2013 AMH Credit Facilities - Term Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Spread on variable rate debt			1.75%
Senior Secured Notes | 2024 Senior Notes(1)
Debt Instrument [Line Items]
Debt	499,133,000		$ 499,133,000		$ 499,058,000
Interest expense incurred	5,000,000	5,000,000	15,000,000	6,700,000
Debt, at fair value	503,300,000		503,300,000
Debt face amount	500,000,000		500,000,000			$ 500,000,000
Debt interest rate						4.00%
Debt issuance price						99.722%
Deferred debt issuance costs						$ 5,500,000
Amortization of debt issuance costs	$ 100,000	$ 100,000	$ 400,000	$ 200,000

NET INCOME (LOSS) PER CLASS A61

NET INCOME (LOSS) PER CLASS A SHARE - Basic and Diluted Net Income (Loss) Per Class A Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	Jul. 29, 2015	May. 07, 2015	Feb. 05, 2015	Aug. 06, 2014	May. 08, 2014	Feb. 07, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Numerator:
Net Income Attributable to Apollo Global Management, LLC							$ 41,051	$ 2,210	$ 128,406	$ 146,047
Distributions declared on Class A shares							(74,812)	(73,580)	(276,021)	(364,434)
Distributions on participating securities							(5,113)	(10,161)	(25,347)	(56,588)
Earnings allocable to participating securities							0	0	0	0
Undistributed loss attributable to Class A shareholders: Basic and Diluted							$ (38,874)	$ (81,531)	$ (172,962)	$ (274,975)
Denominator:
Weighted average number of Class A shares outstanding: Basic (in shares)							176,169,986	158,466,602	170,879,302	153,071,007
Net income per Class A share: Basic
Distributed Income							$ 0.42	$ 0.46	$ 1.61	$ 2.38
Undistributed Loss							(0.22)	(0.51)	(1.01)	(1.80)
Net Income per Class A Share: Basic (USD per share)							0.20	(0.05)	0.60	0.58
Distributions Declared per Class A Share (USD per share)							$ 0.42	$ 0.46	$ 1.61	$ 2.38
Common Class A Shares
Net income per Class A share: Basic
Distributions Declared per Class A Share (USD per share)	$ 0.42	$ 0.33	$ 0.86	$ 0.46	$ 0.84	$ 1.08

NET INCOME (LOSS) PER CLASS A62

NET INCOME (LOSS) PER CLASS A SHARE - Weighted Average Shares Issued (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average vested units	8,358,613	19,410,438	11,553,100	20,639,048
Weighted average unvested units	4,877,577	4,180,381	4,849,464	3,889,480
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average unexercised options	227,086	237,503	228,475	654,170
Apollo Operating Group (AOG) Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average unvested units	218,272,537	222,736,477	220,719,479	225,782,718

NET INCOME (LOSS) PER CLASS A63

NET INCOME (LOSS) PER CLASS A SHARE - Transactions in Class A Shares and Impact on Company's and Holdings' Ownership Interests (Detail) - shares shares in Thousands	1 Months Ended					3 Months Ended
	Aug. 31, 2015	May. 31, 2015	Feb. 28, 2015	Oct. 31, 2014	May. 31, 2014	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Type of Class A Shares Transaction						Issuance/Exchange	Issuance/Exchange	Issuance/Exchange	Issuance/Exchange	Issuance	Issuance/Exchange	Issuance
Number of Shares Issued in Class A Shares Transaction (in thousands)						6,819	4,275	4,866	3,090	3,660	7,344	2,672
Apollo Global Management, LLC ownership% in Apollo Operating Group before Class A Shares Transaction						43.80%	43.00%	42.30%	41.80%	41.20%	39.40%	39.00%
Apollo Global Management, LLC ownership% in Apollo Operating Group after Class A Shares Transaction						45.30%	43.80%	43.00%	42.30%	41.80%	41.20%	39.40%
Holdings ownership% in Apollo Operating Group before Class A Shares Transaction						56.20%	57.00%	57.70%	58.20%	58.80%	60.60%	61.00%
Holdings ownership% in Apollo Operating Group after Class A Shares Transaction						54.70%	56.20%	57.00%	57.70%	58.20%	58.80%	60.60%
Common Class A Shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Exchange of AOG units for class A shares (shares)	4,400	1,800	200	100	6,200

NET INCOME (LOSS) PER CLASS A64

NET INCOME (LOSS) PER CLASS A SHARE - Narrative (Detail)	9 Months Ended
	Sep. 30, 2015USD ($)shares	Sep. 30, 2014
Common Class A Shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Conversion ratio of AOG units	1
Common Class B Shares
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Conversion ratio of AOG units	1
Class B share net income (loss)	$ 0
Class B share distribution or liquidation rights | shares	0
Class B voting power, percent of voting rights	61.70%	65.40%

EQUITY-BASED COMPENSATION - Val

EQUITY-BASED COMPENSATION - Valuation Assumptions (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
2007 Omnibus Equity Incentive Plan, Plan Grants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Marketability discount, no distributions	26.10%	29.20%	26.20%	37.30%
Marketability discount, no transfers	3.80%	5.10%	3.90%	5.00%
2007 Omnibus Equity Incentive Plan, Bonus Grants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Marketability discount, no transfers	2.30%		2.20%	3.00%

EQUITY-BASED COMPENSATION - RSU

EQUITY-BASED COMPENSATION - RSU Activity (Detail) - 2007 Omnibus Equity Incentive Plan, Plan Grants - Restricted Stock Units (RSUs)	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested outstanding, beginning balance	10,717,635
Unvested Shares, Granted	1,010,963
Unvested Shares, Forfeited	(149,316)
Unvested Shares, Vested	(2,055,811)
Unvested outstanding, ending balance	9,523,471
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted average grant date fair value, beginning | $ / shares	$ 18.11
Weighted average grant date fair value granted | $ / shares	18.05
Weighted average grant date fair value forfeited | $ / shares	20.46
Weighted average grant date fair value delivered | $ / shares	13.55
Weighted Average Grant Date Fair Value Vested | $ / shares	17.24
Weighted average grant date fair value, ending | $ / shares	$ 18.26
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Options Outstanding, Beginning Balance	17,354,242
Vested Shares, Delivered	(11,769,015)
Unvested Shares, Vested	2,055,811
Options Outstanding, Ending Balance	7,641,038
Total number of RSUs outstanding, beginning	28,071,877
Number of RSUs outstanding granted	1,010,963
Number of RSUs outstanding forfeited	(149,316)
Number of RSUs outstanding delivered	(11,769,015)
Total number of RSUs outstanding, ending	17,164,509

EQUITY-BASED COMPENSATION - Awa

EQUITY-BASED COMPENSATION - Awards Issued (Details) - Common Class A Shares - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Class A shares delivered	9,253,602	7,457,755
Gross value of shares delivered(1)	$ 261,566	$ 219,505

EQUITY-BASED COMPENSATION - Rec

EQUITY-BASED COMPENSATION - Reconciliation of Equity-Based Compensation (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 31,404	$ 13,987	$ 73,786	$ 101,676
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	16,860	15,368	50,305	86,992
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	13,331	(2,107)	19,592	12,839
Restricted Depositary Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	1,213	726	3,889	1,845
Non-Controlling Interests in Apollo Operating Group
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	7,957	(806)	12,846	8,780
Less ARI Restricted Stock Awards, ARI RSUs and AMTG RSUs	(7,957)	806	(12,846)	(8,780)
Capital Increase Related to Equity-Based Compensation	$ 0	$ 0	$ 0	$ 0
Non-Controlling Interests in Apollo Operating Group | Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of non controlling interest	54.70%	58.20%	54.70%	58.20%
Equity-based compensation	$ 7,293	$ (1,231)	$ 10,718	$ 7,680
Non-Controlling Interests in Apollo Operating Group | Restricted Depositary Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of non controlling interest	54.70%	58.20%	54.70%	58.20%
Equity-based compensation	$ 664	$ 425	$ 2,128	$ 1,100
Apollo Global Management, LLC
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	23,447	14,793	60,940	92,896
Less ARI Restricted Stock Awards, ARI RSUs and AMTG RSUs	(7,221)	929	(10,988)	(4,584)
Capital Increase Related to Equity-Based Compensation	16,226	15,722	49,952	88,312
Apollo Global Management, LLC | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	16,860	15,368	50,305	86,992
Apollo Global Management, LLC | Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	6,038	(876)	8,874	5,159
Apollo Global Management, LLC | Restricted Depositary Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 549	$ 301	$ 1,761	$ 745

EQUITY-BASED COMPENSATION - Nar

EQUITY-BASED COMPENSATION - Narrative (Detail) - USD ($)	Mar. 26, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense		$ 13,300,000		$ 19,600,000	$ 12,800,000
Options granted				0
Compensation Cost Not yet Recognized		$ 300,000		$ 300,000
Compensation expense expected to vest period				2 years 9 months 18 days
Adjustments to Additional Paid in Capital, Share-based Compensation and Exercise of Stock Options				$ 53,000,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period				3 years 2 months 12 days
Fair value of grants in period				$ 18,200,000	$ 85,800,000
Actual forfeiture rate		0.90%	1.10%	1.30%	7.50%
Compensation expense		$ 16,300,000	$ 15,700,000	$ 49,900,000	$ 60,200,000
Number of units expected to vest				9,000,000
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense		0	0	$ 0	0
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense		$ 0	$ 0	$ 100,000	28,100,000
Shares vested under accelerated vesting	1,250,000
Options forfeited	1,250,000
Accelerated compensation cost					$ 28,100,000
2007 Omnibus Equity Incentive Plan, Plan Grants | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity award vesting period				6 years
Weighted average period				1 year
2007 Omnibus Equity Incentive Plan, Bonus Grants | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity award vesting period				3 years
Athene Holding | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity award vesting period				5 years

RELATED PARTY TRANSACTIONS AN70

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Due from Affiliates and Due to Affiliates (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Due from Affiliates:
Total Due from Affiliates	$ 265,398	$ 268,015
Due to Affiliates:
Total Due to Affiliates	582,328	565,153
Private Equity Segment
Due from Affiliates:
Total Due from Affiliates	32,065	30,091
Due to Affiliates:
Total Due to Affiliates	15,239	1,158
Portfolio companies
Due from Affiliates:
Total Due from Affiliates	35,872	41,844
Credit
Due from Affiliates:
Total Due from Affiliates	138,063	174,165
Due to Affiliates:
Total Due to Affiliates	49,092	5,343
Employees
Due from Affiliates:
Total Due from Affiliates	38,842	1,721
Due to Affiliates:
Total Due to Affiliates	12,735	49,503
Real Estate Segment
Due from Affiliates:
Total Due from Affiliates	20,523	20,162
Other Affiliates
Due from Affiliates:
Total Due from Affiliates	33	32
Managing Partners
Due to Affiliates:
Total Due to Affiliates	$ 505,262	$ 509,149

RELATED PARTY TRANSACTIONS AN71

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Amount of Quarterly Distribution (Detail) - USD ($) $ / shares in Units, $ in Millions	Apr. 11, 2015	Dec. 15, 2014	Sep. 11, 2014	Jun. 16, 2014	Apr. 03, 2014	Sep. 30, 2015	Aug. 31, 2015	Jul. 29, 2015	May. 29, 2015	May. 07, 2015	Feb. 27, 2015	Feb. 05, 2015	Dec. 31, 2014	Nov. 21, 2014	Oct. 30, 2014	Aug. 29, 2014	Aug. 06, 2014	May. 30, 2014	May. 08, 2014	Feb. 26, 2014	Feb. 07, 2014
Related Party Transaction [Line Items]
Distributions per Class A Share Amount	$ 0	$ 0	$ 0	$ 0	$ 0	$ 1.61		$ 0.42		$ 0.33		$ 0.86	$ 3.11		$ 0.73		$ 0.46		$ 0.84		$ 1.08
Total Distributions from Apollo Operating Group	$ 22.4	$ 25.2	$ 12.4	$ 28.5	$ 49.5	$ 653.7	$ 166		$ 129.6		$ 335.7		$ 1,299.9	$ 281.6		$ 176.1		$ 318.4		$ 408.2
Distribution Equivalents on Participating Securities	$ 0	$ 0	$ 0	$ 0	$ 0	25.3	5.1		4.9		15.3		72.1	15.5		10.2		20.9		25.5
Additional Distribution Per Share	$ 0.10	$ 0.11	$ 0.06	$ 0.13	$ 0.22
Non-Controlling Interests in Consolidated Entities
Related Party Transaction [Line Items]
Distributions to Non-Controlling Interest Holders in the Apollo Operating Group	$ 22.4	$ 25.2	$ 12.4	$ 28.5	$ 49.5	377.7	91.2		72.8		191.3		816.4	162.6		102.5		188.4		247.3
Common Class A Shares
Related Party Transaction [Line Items]
Distributions to AGM Class A Shareholders	$ 0	$ 0	$ 0	$ 0	$ 0	$ 276	$ 74.8		$ 56.8		$ 144.4		$ 483.5	$ 119		$ 73.6		$ 130		$ 160.9

RELATED PARTY TRANSACTIONS AN72

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Net Income Attributable to Non-Controlling Interests (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Related Party Transaction [Line Items]
Net (income) loss attributable to Non-controlling Interests	$ (55,508)	$ 69,974	$ (197,725)	$ (498,135)
Other comprehensive (income) loss attributable to Non-Controlling Interests	(178)	606	5,572	606
Comprehensive Income Attributable to Non-Controlling Interests	58,241	$ 61,937	192,153	$ 570,755
Non-controlling interests ownership percentage in AAA				97.50%
Apollo NCI in AP Alternative Assets		2.50%		2.50%
AAA(1)(2)
Related Party Transaction [Line Items]
Net (income) loss attributable to Non-controlling Interests	0	$ (429)	0	$ 197,908
Interest in management companies and co-investment vehicle
Related Party Transaction [Line Items]
Net (income) loss attributable to Non-controlling Interests	1,120	2,797	7,726	11,291
Other consolidated entities
Related Party Transaction [Line Items]
Net (income) loss attributable to Non-controlling Interests	1,596	17,220	3,492	12,113
Consolidated entities
Related Party Transaction [Line Items]
Net (income) loss attributable to Non-controlling Interests	2,716	19,588	11,218	221,312
Appropriated Partners' Capital
Related Party Transaction [Line Items]
Net (income) loss attributable to Non-controlling Interests	(2,555)	(132,517)	0	(73,226)
Net income attributable to Appropriated Partners’ Capital	(2,555)	(132,517)	0	(73,226)
Non-Controlling Interests in Apollo Operating Group
Related Party Transaction [Line Items]
Net (income) loss attributable to Non-controlling Interests	$ 55,347	$ 42,955	$ 186,507	$ 350,049

RELATED PARTY TRANSACTIONS AN73

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Narrative (Detail) - USD ($) $ / shares in Units, shares in Millions	Jun. 24, 2014	Apr. 29, 2014	Apr. 04, 2014	Apr. 30, 2015	Apr. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Feb. 03, 2015	Jan. 21, 2015
Related Party Transaction [Line Items]
Percentage of amount of cash savings								15.00%
Period of payments pursuant to tax receivable agreement								15 years
Related Party Transaction Payments Of Cash Pursuant To Tax Receivable Agreement				$ 48,400,000	$ 32,000,000
Income Tax Adjustment								$ 94,400,000		$ 97,600,000
Loans and Leases Receivable, Related Parties						$ 25,000,000		25,000,000
Loans and Leases Receivable, Related Parties, Due Upon Liquidation of Fund						1,300,000		1,300,000
Indemnity Liability						$ 4,400,000		$ 4,400,000		0
Management Fee Rate								0.40%
Capital and surplus						0.50%		0.50%
Quarterly Monitoring Fee Multiplier						2.5		2.5
Advisory and transaction fees from affiliates, net						$ 9,276,000	$ 71,071,000	$ 34,269,000	$ 247,922,000
Due from affiliates						$ 265,398,000		$ 265,398,000		268,015,000
Changes in derivative market value recognized									14,000,000
Carried interest payable rate						20.00%		20.00%
Carried interest from AAA Investments' Investment in Athene						$ 24,800,000	(100,000)	$ 28,400,000	14,500,000
Carried Interest Receivable Related to AAA Investments						178,100,000		178,100,000		121,500,000
Profit Sharing Payable Related to AAA Investment						57,600,000		57,600,000		$ 34,900,000
Athene Aggregate Income Earned by Apollo						$ 218,400,000	140,700,000	$ 425,000,000	408,100,000
Economic Interest						0.06%		0.06%		0.06%
Carried interest receivable						$ 688,886,000		$ 688,886,000		$ 911,666,000
Equity Held as of						$ 550,222,000		$ 550,222,000		$ 380,878,000
Apollo Global Management, LLC
Related Party Transaction [Line Items]
Stock Issued During Period Shares Exchange Of Subsidiary Non Controlling Interest								6.5		6.3
Economic Interest						45.30%		45.30%
Private Placement | Athene Holding
Related Party Transaction [Line Items]
Consideration received on sale of stock	$ 170,000,000	$ 80,000,000	$ 1,048,000,000					$ 60,000,000
Sale of stock, price per share			$ 26
Economic Interest						46.30%		46.30%		47.70%
Apollo Credit Liquidity Fund, L.P. (“ACLF”)
Related Party Transaction [Line Items]
Loans and Leases Receivable, Related Parties, Due Upon Liquidation of Fund						$ 5,300,000		$ 5,300,000
General partner obligation						19,700,000		19,700,000		$ 2,500,000
Apollo Investment Fund V, L.P. (“Fund V”)
Related Party Transaction [Line Items]
Loans and Leases Receivable, Related Parties, Due Upon Liquidation of Fund						4,800,000		4,800,000
General partner obligation						10,500,000		10,500,000
Apollo Natural Resources Partners, L.P. (“ANRP I”)
Related Party Transaction [Line Items]
Loans and Leases Receivable, Related Parties, Due Upon Liquidation of Fund						1,300,000		1,300,000
General partner obligation						3,500,000		3,500,000
Apollo Asia Private Credit Fund, L.P. (“APC”)
Related Party Transaction [Line Items]
General partner obligation						700,000		700,000
Apollo Credit Opportunity Fund II, L.P. (“COF II”)
Related Party Transaction [Line Items]
General partner obligation						100,000		100,000
Certain Credit Funds
Related Party Transaction [Line Items]
General partner obligation						$ 28,800,000		$ 28,800,000		$ 900,000
AAA and AAA Guarantor - Athene L.P.
Related Party Transaction [Line Items]
% of Ownership						2.40%		2.40%		2.50%
Athene Holding
Related Party Transaction [Line Items]
Economic Interest						9.20%		9.20%		8.10%
% of Ownership						1.20%		1.20%		1.20%
Ownership in VIE										45.00%
Athene Holding | Apollo Global Management, LLC
Related Party Transaction [Line Items]
% of Ownership						8.00%		8.00%		6.90%
Management Fee Receivable
Related Party Transaction [Line Items]
Due from affiliates						$ 0		$ 0		$ 3,100,000
Managing Partners
Related Party Transaction [Line Items]
Percentage of amount of cash savings								85.00%
Interest Paid To Related Parties				13,100,000	8,300,000
Related Party Transaction Liability						44,500,000	47,900,000	$ 44,500,000	47,900,000
Contributing Partners
Related Party Transaction [Line Items]
Interest Paid To Related Parties				$ 600,000	$ 500,000
Athene and Athene Life Re Ltd.
Related Party Transaction [Line Items]
Advisory and transaction fees from affiliates, net							57,700,000		167,800,000
Due from affiliates										$ 58,200,000
AAA and AAA Guarantor - Athene L.P.
Related Party Transaction [Line Items]
Management fee including derivative components						900,000	$ 300,000	2,500,000	$ 1,100,000
Apollo MidCap Holdings L.P. | MidCap Finco Ltd. Subscription
Related Party Transaction [Line Items]
Aggregate commitment for subscription						50,000,000		50,000,000
Aggregate commitment funded											$ 20,600,000
Carried interest receivable												$ 29,900,000
Apollo MidCap Holdings L.P. | MidCap Finco Ltd. Subscription | MidCap FinCo Limited (“MidCap”)
Related Party Transaction [Line Items]
Equity Held as of						$ 50,200,000		$ 50,200,000

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Summary of Approximate Aggregate Minimum Future Payments Required for Operating Leases (Detail) $ in Thousands	Sep. 30, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remaining 2,015	$ 9,577
2,016	37,837
2,017	35,894
2,018	31,325
2,019	30,728
Thereafter	24,342
Total	$ 169,703

COMMITMENTS AND CONTINGENCIES75

COMMITMENTS AND CONTINGENCIES - Summary of Fixed and Determinable Payments (Detail) $ in Thousands	Sep. 30, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remaining 2,015	$ 5,042
2,016	8,842
2,017	5,282
2,018	4,889
2,019	2,329
Thereafter	0
Total	$ 26,384

COMMITMENTS AND CONTINGENCIES76

COMMITMENTS AND CONTINGENCIES - Narrative (Detail)	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2012litigation	Sep. 30, 2015USD ($)underwriting_commitment	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)underwriting_commitment	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Sep. 03, 2014USD ($)	Jun. 10, 2014shares	Apr. 30, 2012USD ($)
Long-term Purchase Commitment [Line Items]
Maximum exposure relating to the financial guarantees		$ 100,000		$ 100,000
Unfunded capital commitments		$ 663,300,000		$ 663,300,000		$ 646,600,000
Aggregate after-tax cash distribution obligation to acquire additional common units		25.00%		25.00%
Lawsuits filed | litigation	2
Expenses related to non-cancellable contractual obligations		$ 10,600,000	$ 10,400,000	$ 31,600,000	$ 31,900,000
Cumulative revenues recognized if existing investments become worthless		$ 2,526,500,000		$ 2,526,500,000		2,892,800,000
Underwriting commitment | underwriting_commitment		0		0
Fair value of the contingent obligation		$ 72,500,000		$ 72,500,000		84,500,000
Affinion Group, LLC
Long-term Purchase Commitment [Line Items]
Ownership stake	68.00%
Caesars Entertainment Corp
Long-term Purchase Commitment [Line Items]
CEC debt							$ 137,000,000
Shares for appraisal | shares								750,000
AAA Investment Credit Agreement [Member]
Long-term Purchase Commitment [Line Items]
Advance, Maximum Lending Capacity		10,000,000		$ 10,000,000
Advance, Commitment Fee Percentage				0.125%
Advances to Affiliate		0		$ 0
Apollo Investment Fund V, L.P. (“Fund V”)
Long-term Purchase Commitment [Line Items]
Reversal of GP Obligation		1,400,000		10,500,000
Apollo Asia Private Credit Fund, L.P. (“APC”)
Long-term Purchase Commitment [Line Items]
Reversal of GP Obligation		700,000		700,000
Apollo Natural Resources Partners, L.P. (“ANRP I”)
Long-term Purchase Commitment [Line Items]
Reversal of GP Obligation		3,500,000		3,500,000
Apollo Credit Liquidity Fund, L.P. (“ACLF”)
Long-term Purchase Commitment [Line Items]
Reversal of GP Obligation		13,800,000		19,700,000
Certain Credit Funds
Long-term Purchase Commitment [Line Items]
Reversal of GP Obligation		1,700,000		28,800,000
Stone Tower
Long-term Purchase Commitment [Line Items]
Contingent consideration obligations									$ 117,700,000
Gulf Stream
Long-term Purchase Commitment [Line Items]
Fair Value of contingent liability		$ 9,100,000		$ 9,100,000		$ 11,600,000
LIBOR | AAA Investment Credit Agreement [Member]
Long-term Purchase Commitment [Line Items]
Advance, Basis Spread on Variable Rate				1.50%

MARKET AND CREDIT RISK - Narrat

MARKET AND CREDIT RISK - Narrative (Detail) $ in Millions	Sep. 30, 2015USD ($)Investor	Dec. 31, 2014USD ($)
Concentration Risk [Line Items]
Number of limited partners | Investor	1,000
Total committed capital by individual investor no more than	10.00%
Variable Interest Rate
Concentration Risk [Line Items]
Debt balance	$ 532.3	$ 535

SEGMENT REPORTING - Schedule of

SEGMENT REPORTING - Schedule of Economic Net Income (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014
Segment Reporting Information [Line Items]
Economic Net Income	$ 71,327	$ 612,434
Impact Of Modification On ENI	(11,919)	(7,125)
Previously Reported
Segment Reporting Information [Line Items]
Economic Net Income	$ 83,246	$ 619,559

SEGMENT REPORTING - Reconciliat

SEGMENT REPORTING - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Revenues:
Advisory and transaction fees from affiliates, net	$ 9,276	$ 71,071	$ 34,269	$ 247,922
Management fees from affiliates	238,563	207,297	694,036	643,508
Total Revenues	193,268	221,135	848,019	1,284,687
Salary, bonus and benefits	93,514	90,402	270,017	260,764
Equity-based compensation	31,404	13,987	73,786	101,676
Profit sharing expense	(20,329)	(5,804)	89,935	258,933
Total Compensation and Benefits	104,589	98,585	433,738	621,373
Total Expenses	174,911	177,388	643,446	845,876
Net gains from investment activities	80,950	12	107,492	213,886
Gain from equity method investments	2,021	4,445	18,079	58,056
Other Nonoperating Income (Expense)	93	10,013	6,742	29,782
Total Other Income (Loss)	84,793	(82,135)	142,755	302,333
Non-Controlling Interests	(55,508)	69,974	(197,725)	(498,135)
Economic Income (Loss)		71,327		612,434
Total Assets	4,818,050	24,097,605	4,818,050	24,097,605	$ 23,178,837
Private Equity Segment
Revenues:
Advisory and transaction fees from affiliates, net	4,736	11,925	17,490	54,739
Management fees from affiliates	71,876	76,848	220,742	238,314
Unrealized Gains Losses	(167,364)	(449,506)	(265,147)	(753,489)
Realized Gains	102,138	369,968	336,175	964,911
Total Revenues	11,386	9,235	309,260	504,475
Salary, bonus and benefits	27,183	23,792	80,662	72,774
Equity-based compensation	6,974	8,028	23,467	39,434
Profit sharing expense	(26,044)	(19,270)	60,796	162,719
Total Compensation and Benefits	8,113	12,550	164,925	274,927
Other Cost and Expense, Operating	17,326	16,600	48,973	52,819
Total Expenses	25,439	29,150	213,898	327,746
Interest Income (Expense), Nonoperating, Net	(2,425)	(2,634)	(7,439)	(5,359)
Net gains from investment activities	5,904	0	5,904	0
Gain from equity method investments	3,827	1,069	18,588	33,288
Other Nonoperating Income (Expense)	(43)	(1,592)	2,903	2,358
Total Other Income (Loss)	7,263	(3,157)	19,956	30,287
Non-Controlling Interests	0	0	0	0
Economic Income (Loss)	(6,790)	(23,072)	115,318	207,016
Total Assets	1,415,186	2,462,241	1,415,186	2,462,241
Credit Segment
Revenues:
Advisory and transaction fees from affiliates, net	4,141	58,593	13,913	191,682
Management fees from affiliates	141,706	139,645	421,790	405,879
Unrealized Gains Losses	(15,056)	(107,159)	(67,748)	(67,883)
Realized Gains	22,331	132,429	108,748	256,414
Total Revenues	153,122	223,508	476,703	786,092
Salary, bonus and benefits	56,945	60,422	162,618	166,936
Equity-based compensation	6,896	5,590	18,794	39,374
Profit sharing expense	12,739	16,002	26,853	91,744
Total Compensation and Benefits	76,580	82,014	208,265	298,054
Other Cost and Expense, Operating	31,333	40,579	95,514	112,768
Total Expenses	107,913	122,593	303,779	410,822
Interest Income (Expense), Nonoperating, Net	(3,003)	(3,776)	(10,107)	(5,743)
Net gains from investment activities	75,340	116	100,387	8,949
Gain from equity method investments	(1,949)	3,115	(2,654)	21,234
Other Nonoperating Income (Expense)	(148)	111	1,923	18,110
Total Other Income (Loss)	70,240	(434)	89,549	42,550
Non-Controlling Interests	(2,697)	(3,174)	(8,766)	(9,554)
Economic Income (Loss)	112,752	97,307	253,707	408,266
Total Assets	2,239,214	2,250,020	2,239,214	2,250,020
Real Estate Segment
Revenues:
Advisory and transaction fees from affiliates, net	399	803	2,866	1,752
Management fees from affiliates	13,176	11,200	36,212	36,188
Unrealized Gains Losses	3,334	(3,606)	3,974	(2,962)
Realized Gains	46	0	3,712	3,998
Total Revenues	16,955	8,397	46,764	38,976
Salary, bonus and benefits	9,982	7,610	28,065	22,476
Equity-based compensation	1,068	1,007	3,151	7,537
Profit sharing expense	1,312	(3,270)	4,062	(1,055)
Total Compensation and Benefits	12,362	5,347	35,278	28,958
Other Cost and Expense, Operating	5,753	5,588	17,242	16,137
Total Expenses	18,115	10,935	52,520	45,095
Interest Income (Expense), Nonoperating, Net	(759)	(666)	(2,157)	(1,373)
Net gains from investment activities	0	0	0	0
Gain from equity method investments	1,147	641	2,283	4,464
Other Nonoperating Income (Expense)	4	(345)	1,401	180
Total Other Income (Loss)	392	(370)	1,527	3,271
Non-Controlling Interests	0	0	0	0
Economic Income (Loss)	(768)	(2,908)	(4,229)	(2,848)
Total Assets	202,536	203,889	202,536	203,889
Total Reportable Segments
Revenues:
Advisory and transaction fees from affiliates, net	9,276	71,321	34,269	248,173
Management fees from affiliates	226,758	227,693	678,744	680,381
Unrealized Gains Losses	(179,086)	(560,271)	(328,921)	(824,334)
Realized Gains	124,515	502,397	448,635	1,225,323
Total Revenues	181,463	241,140	832,727	1,329,543
Salary, bonus and benefits	94,110	91,823	271,345	262,185
Equity-based compensation	14,938	14,626	45,412	86,346
Profit sharing expense	(11,993)	(6,538)	91,711	253,408
Total Compensation and Benefits	97,055	99,911	408,468	601,939
Other Cost and Expense, Operating	54,412	62,767	161,729	181,724
Total Expenses	151,467	162,678	570,197	783,663
Interest Income (Expense), Nonoperating, Net	(6,187)	(7,076)	(19,703)	(12,475)
Net gains from investment activities	81,244	116	106,291	8,949
Gain from equity method investments	3,025	4,825	18,217	58,986
Other Nonoperating Income (Expense)	(187)	(1,826)	6,227	20,648
Total Other Income (Loss)	77,895	(3,961)	111,032	76,108
Non-Controlling Interests	(2,697)	(3,174)	(8,766)	(9,554)
Economic Income (Loss)		71,327	364,796	612,434
Total Assets	3,856,936	4,916,150	3,856,936	4,916,150
Apollo Investment Fund V, L.P. (“Fund V”)
Revenues:
Reversal of GP Obligation	1,400		10,500
Apollo Asia Private Credit Fund, L.P. (“APC”)
Revenues:
Reversal of GP Obligation	700		700
Apollo Natural Resources Partners, L.P. (“ANRP I”)
Revenues:
Reversal of GP Obligation	3,500		3,500
Apollo Credit Liquidity Fund, L.P. (“ACLF”)
Revenues:
Reversal of GP Obligation	13,800		19,700
Apollo Credit Opportunity Fund II, L.P. (“COF II”)
Revenues:
Reversal of GP Obligation	100		100
Certain Credit Funds
Revenues:
Reversal of GP Obligation	1,700		28,800
Consolidation Adjustments and Other
Revenues:
Total Revenues	11,805	(20,005)	15,292	(44,856)
Total Expenses	23,444	14,710	73,249	62,213
Gain from equity method investments	(1,004)	(379)	(138)	(931)
Total Other Income (Loss)	6,898	(78,174)	31,723	226,225
Non-Controlling Interests	(52,811)	73,148	188,959	(488,581)
Total Assets	$ 961,114	$ 19,181,455	$ 961,114	$ 19,181,455

SEGMENT REPORTING - Reconcili80

SEGMENT REPORTING - Reconciliation of Total Segments to Apollo Global Management, LLC`s (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Revenues	$ 193,268	$ 221,135	$ 848,019	$ 1,284,687
Expenses	174,911	177,388	643,446	845,876
Other income (loss)	84,793	(82,135)	142,755	302,333
Non-Controlling Interests	(55,508)	69,974	(197,725)	(498,135)
Economic Income (Loss)		71,327		612,434
Total Assets	4,818,050	24,097,605	4,818,050	24,097,605	$ 23,178,837
Consolidation Adjustments and Other
Segment Reporting Information [Line Items]
Revenues	11,805	(20,005)	15,292	(44,856)
Expenses	23,444	14,710	73,249	62,213
Other income (loss)	6,898	(78,174)	31,723	226,225
Non-Controlling Interests	(52,811)	73,148	188,959	(488,581)
Total Assets	961,114	19,181,455	961,114	19,181,455
Total Reportable Segments
Segment Reporting Information [Line Items]
Revenues	181,463	241,140	832,727	1,329,543
Expenses	151,467	162,678	570,197	783,663
Other income (loss)	77,895	(3,961)	111,032	76,108
Non-Controlling Interests	(2,697)	(3,174)	(8,766)	(9,554)
Economic Income (Loss)		71,327	364,796	612,434
Total Assets	$ 3,856,936	$ 4,916,150	$ 3,856,936	$ 4,916,150

SEGMENT REPORTING - Reconcili81

SEGMENT REPORTING - Reconciliation of Total Segments to Apollo Global Management, LLC's (Footnote) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Net gains (loss) from investment activities of consolidated variable interest entities	$ 911	$ (98,848)	$ 8,039	$ (7,688)
Gain from equity method investments	2,021	4,445	18,079	58,056
Total Other Income (Loss)	84,793	(82,135)	142,755	302,333
Economic Net Income		71,327		612,434
Income tax provision	(6,591)	(29,376)	(21,197)	(96,962)
Non-Controlling Interests	(55,508)	69,974	(197,725)	(498,135)
Net Income Attributable to Apollo Global Management, LLC	41,051	2,210	128,406	146,047
Consolidation Adjustments and Other
Segment Reporting Information [Line Items]
Net loss from investment activities	(293)	(103)	204	204,938
Net gains (loss) from investment activities of consolidated variable interest entities	911	(98,848)	8,039	(7,688)
Gain from equity method investments	(1,004)	(379)	(138)	(931)
Other Income, net	(7,284)	(21,156)	(23,618)	(29,906)
Total Other Income (Loss)	6,898	(78,174)	31,723	226,225
Non-Controlling Interests	(52,811)	73,148	188,959	(488,581)
Apollo Global Management, LLC
Segment Reporting Information [Line Items]
Economic Net Income	105,194	71,327	364,796	612,434
Non-Controlling Interests	(55,347)	(42,955)	(186,507)	(350,049)
Amortization of intangible assets	(2,205)	3,214	(28,686)	(19,376)
Net Income Attributable to Apollo Global Management, LLC	$ 41,051	$ 2,210	$ 128,406	$ 146,047

SUBSEQUENT EVENTS - Narrative (

SUBSEQUENT EVENTS - Narrative (Detail) - USD ($) $ / shares in Units, $ in Millions

Nov. 09, 2015

Nov. 03, 2015

Oct. 28, 2015

Oct. 09, 2015

Jul. 29, 2015

May. 07, 2015

Feb. 05, 2015

Aug. 06, 2014

May. 08, 2014

Feb. 07, 2014

Sep. 30, 2015

Sep. 30, 2014

Sep. 30, 2015

Sep. 30, 2014

Subsequent Event [Line Items]

Distributions Declared per Class A Share (USD per share)

$ 0.42

$ 0.46

$ 1.61

$ 2.38

Common Class A Shares

Subsequent Event [Line Items]

Distributions Declared per Class A Share (USD per share)

$ 0.42

$ 0.33

$ 0.86

$ 0.46

$ 0.84

$ 1.08

Subsequent Event | AR Capital, LLC | Contract Termination

Subsequent Event [Line Items]

Fair market value of preferred stock

$ 25

Subsequent Event | Investment in RCAP | AR Capital, LLC

Subsequent Event [Line Items]

Future consideration purchase amount

6

Subsequent Event | Investment in RCAP | AR Capital, LLC | Contract Termination

Subsequent Event [Line Items]

Purchase of preferred stock

$ 25.6

Subsequent Event | Common Class A Shares

Subsequent Event [Line Items]

Additional class A shares

1,523,155

518,849

Distributions Declared per Class A Share (USD per share)

$ 0.35

Minimum | Subsequent Event

Subsequent Event [Line Items]

Ownership of related party

45.40%

45.30%

Maximum | Subsequent Event

Subsequent Event [Line Items]

Ownership of related party

45.60%

45.40%

Uncategorized Items - apo-20150

Label	Element	Value
Additional Paid-in Capital [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 1,771
Noncontrolling Interest [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(3,134,518)
Parent Company [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(934,745)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(3,350)
Appropriated Partners Capital [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (933,166)