Apollo Global Management (APO-PA) 10-K 1 Mar 23 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2022	Feb. 27, 2023	Jun. 30, 2022
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-35107
Entity Registrant Name	APOLLO ASSET MANAGEMENT, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-8880053
Entity Address, Address Line One	9 West 57th Street,
Entity Address, Address Line Two	42nd Floor
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10019
City Area Code	212
Local Phone Number	515-3200
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,000
Entity Central Index Key	0001411494
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Public Float			$ 0
6.375% Series A Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	6.375% Series A Preferred Stock
Trading Symbol	AAM.PR A
Security Exchange Name	NYSE
6.375% Series B Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	6.375% Series B Preferred Stock
Trading Symbol	AAM.PR B
Security Exchange Name	NYSE

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Audit Information [Abstract]
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	New York, NY

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets:
Cash and cash equivalents	$ 1,200,735	$ 917,183
Restricted cash and cash equivalents	1,048,129	707,885
Investments (includes performance allocations of $2,635,180 and $2,731,733 as of December 31, 2022 and December 31, 2021, respectively)	5,644,167	11,353,580
Assets of consolidated variable interest entities:
Other assets	1,175,755	585,901
Due from related parties	726,253	493,826
Deferred tax assets, net	633,660	424,132
Other assets	1,175,755	585,901
Lease assets	590,732	450,531
Goodwill	263,744	116,958
Total Assets	13,793,947	30,501,894
Liabilities:
Accounts payable and accrued expenses	167,764	145,054
Accrued compensation and benefits	114,862	130,107
Deferred revenue	172,720	119,688
Due to related parties	1,577,494	1,222,402
Profit sharing payable	1,412,451	1,444,652
Debt	2,814,117	3,134,396
Liabilities of consolidated variable interest entities:
Other liabilities	422,441	500,980
Other liabilities	422,441	500,980
Lease liabilities	664,366	505,206
Total Liabilities	9,295,046	18,537,494
Commitments and Contingencies (see note 15)
Redeemable non-controlling interests:
Redeemable non-controlling interests	1,031,914	1,770,034
Apollo Asset Management, Inc. Stockholders’ Equity:
Common stock	0	0
Additional paid in capital	1,304,378	2,096,403
Retained earnings	0	1,143,899
Accumulated other comprehensive loss	(10,340)	(5,374)
Total Apollo Asset Management, Inc. Stockholders’ Equity	1,848,251	3,789,141
Total Stockholders’ Equity	3,466,987	10,194,366
Total Liabilities, Redeemable non-controlling interests and Stockholders’ Equity	13,793,947	30,501,894
Investments of Consolidated VIEs
Assets:
Cash and cash equivalents	109,578	463,266
Assets of consolidated variable interest entities:
Cash and cash equivalents	109,578	463,266
Investments, at fair value	2,370,884	14,737,051
Other assets	30,310	251,581
Other assets	30,310	251,581
Liabilities of consolidated variable interest entities:
Debt, at fair value	0	7,942,508
Notes payable	49,990	2,611,019
Other liabilities	1,898,841	781,482
Other liabilities	1,898,841	781,482
Consolidated Entities Excluding VIE
Apollo Asset Management, Inc. Stockholders’ Equity:
Non-controlling interests	487,909	3,813,885
Series A Preferred Stock
Apollo Asset Management, Inc. Stockholders’ Equity:
Preferred stock	264,398	264,398
Series B Preferred Stock
Apollo Asset Management, Inc. Stockholders’ Equity:
Preferred stock	289,815	289,815
Class A Common Stock
Apollo Asset Management, Inc. Stockholders’ Equity:
Common stock	0	0
Class B Common Stock
Apollo Asset Management, Inc. Stockholders’ Equity:
Common stock	0	0
Class C Common Stock
Apollo Asset Management, Inc. Stockholders’ Equity:
Common stock	0	0
Apollo Operating Group
Apollo Asset Management, Inc. Stockholders’ Equity:
Non-controlling interests	$ 1,130,827	$ 2,591,340

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Performance allocations	$ 2,635,180	$ 2,731,733
Common stock, par value (in USD per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	40,000,000	0
Common stock, shares issued (in shares)	1,000	0
Common stock, shares outstanding (in shares)	1,000	0
Series A Preferred Stock
Preferred stock, shares issued (in shares)	11,000,000	11,000,000
Preferred stock, shares outstanding (in shares)	11,000,000	11,000,000
Series B Preferred Stock
Preferred stock, shares issued (in shares)	12,000,000	12,000,000
Preferred stock, shares outstanding (in shares)	12,000,000	12,000,000
Class A Common Stock
Common stock, par value (in USD per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	0	90,000,000,000
Common stock, shares issued (in shares)	0	248,896,649
Common stock, shares outstanding (in shares)	0	248,896,649
Class B Common Stock
Common stock, par value (in USD per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	0	999,999,999
Common stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	0	0
Class C Common Stock
Common stock, par value (in USD per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	0	1
Common stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	0	0

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Investment income	$ 800,134	$ 3,699,209	$ 392,181
Total Revenues	3,551,356	5,951,598	2,354,019
Expenses:
Compensation and benefits	1,943,189	3,493,380	1,088,698
Interest expense	130,509	139,090	133,239
General, administrative and other	648,059	481,760	356,027
Total Expenses	2,721,757	4,114,230	1,577,964
Other Income (Loss):
Net gains (losses) from investment activities	934,764	2,610,903	(455,487)
Net gains from investment activities of consolidated variable interest entities	405,089	557,289	197,369
Interest income	49,754	4,255	14,999
Other income (loss), net	(14,966)	(147,541)	20,832
Total Other Income (Loss)	1,374,641	3,024,906	(222,287)
Income (loss) before income taxes	2,204,240	4,862,274	553,768
Income tax provision	(209,920)	(594,379)	(86,966)
Net income (loss)	1,994,320	4,267,895	466,802
Net income attributable to non-controlling interests	(1,060,453)	(2,429,404)	(310,188)
Net income (loss) available to Athene Holding Ltd. shareholders	933,867	1,838,491	156,614
Net income (loss) available to Athene Holding Ltd. common shareholders	897,211	1,801,835	119,958
Series A Preferred Stock Dividends
Other Income (Loss):
Preferred Stock Dividends	(17,531)	(17,531)	(17,531)
Series B Preferred Stock Dividends
Other Income (Loss):
Preferred Stock Dividends	(19,125)	(19,125)	(19,125)
Management fees
Revenues:
Revenues	2,280,508	1,920,946	1,686,973
Advisory and transaction fees, net
Revenues:
Revenues	443,491	302,379	249,482
Incentive fees
Revenues:
Revenues	$ 27,223	$ 29,064	$ 25,383

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net Income	$ 1,994,320	$ 4,267,895	$ 466,802
Other Comprehensive Income (Loss), net of tax:
Currency translation adjustments, net of tax	(29,397)	(32,050)	41,217
Net gain from change in fair value of cash flow hedge instruments	1,976	202	203
Net loss on available-for-sale securities	(1,741)	(185)	(800)
Total Other Comprehensive Income (Loss), net of tax	(29,162)	(32,033)	40,620
Comprehensive Income	1,965,158	4,235,862	507,422
Comprehensive Income attributable to non-controlling interests	(1,036,257)	(2,400,674)	(348,301)
Comprehensive Income Attributable to Apollo Asset Management, Inc.	$ 928,901	$ 1,835,188	$ 159,121

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common Stock	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Common Stock Class C Common Stock	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Preferred Stock Series A Preferred Stock	Preferred Stock Series B Preferred Stock	Preferred Stock Series A Preferred Stock	Preferred Stock Series B Preferred Stock	Additional Paid in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Total Apollo Asset Management, Inc. Stockholders’ Equity	Non- Controlling Interests in Consolidated Entities	Non- Controlling Interests in Apollo Operating Group
Balance, beginning of period (in shares) at Dec. 31, 2019						222,994,407	1
Balance, beginning of period at Dec. 31, 2019	$ 3,038,127									$ 264,398	$ 289,815	$ 1,302,587	$ 0	$ (4,578)	$ 1,852,222	$ 281,904	$ 904,001
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Consolidation of VIEs	1,885,393															1,885,393
Dilution impact of issuance of Class A Common Stock	8,286											8,286			8,286
Capital increase related to equity-based compensation	173,832											173,832			173,832
Capital contributions	843,415															843,415
Equity transaction with Athene Holding	1,159,709											(54,868)			(54,868)		1,214,577
Dividends/ Distributions	(1,962,864)									(17,531)	(19,125)	(535,912)	(13,620)		(586,188)	(888,348)	(488,328)
Payments related to issuances of Class A Common Stock for equity-based awards (in shares)						3,396,637
Payments related to issuances of Class A Common Stock for equity-based awards	(67,648)											28,991	(96,639)		(67,648)
Repurchase of Class A Common Stock (in shares)						(2,755,095)
Repurchase of Class A Common Stock	(91,617)											(91,617)			(91,617)
Exchange of AOG Units for Class A Common Stock (in shares)						5,237,500
Exchange of AOG Units for Class A Common Stock	19,208											45,874	(9,699)		36,175		(16,967)
Net Income	466,802									17,531	19,125		119,958		156,614	118,378	191,810
Currency translation adjustments, net of tax	41,217													2,808	2,808	34,986	3,423
Net gain from change in fair value of cash flow hedge instruments	203													108	108		95
Net loss on available-for-sale securities	(800)													(409)	(409)		(391)
Balance, end of period (in shares) at Dec. 31, 2020			228,873,449	1	1	228,873,449	1
Balance, end of period at Dec. 31, 2020	5,513,263							$ 264,398	$ 289,815	$ 264,398	$ 289,815	877,173	0	(2,071)	1,429,315	2,275,728	1,808,220
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of Class B and Class C Common Stock to Class A Common Stock (in shares)			20	(1)	(1)
Deconsolidation of VIEs	(147,920)															(147,920)
Accretion of redeemable non-controlling interests	(69,534)											(69,534)			(69,534)
Issuance of Class A Common Stock related to equity transactions (in shares)			361,037
Issuance of Class A Common Stock related to equity transactions	22,150											22,150			22,150
Pledge of Class A Common Stock	125,931											125,931			125,931
Purchase of limited partnership interests	(548,138)											(27,430)			(27,430)		(520,708)
Dilution impact of issuance of Class A Common Stock	(9,163)											(9,163)			(9,163)
Capital increase related to equity-based compensation	1,151,583											1,151,583			1,151,583
Capital contributions	2,279,896															2,279,896
Dividends/ Distributions	(2,057,878)							(17,531)	(19,125)				(517,306)		(553,962)	(985,517)	(518,399)
Payments related to issuances of Class A Common Stock for equity-based awards (in shares)			5,256,167
Payments related to issuances of Class A Common Stock for equity-based awards	(61,313)											79,317	(140,630)		(61,313)
Repurchase of Class A Common Stock (in shares)			(4,834,713)
Repurchase of Class A Common Stock	(299,352)											(299,352)			(299,352)
Exchange of AOG Units for Class A Common Stock (in shares)			19,240,689
Exchange of AOG Units for Class A Common Stock	58,979											245,728			245,728		(186,749)
Net Income	4,267,895							17,531	19,125				1,801,835		1,838,491	417,692	2,011,712
Currency translation adjustments, net of tax	(32,050)													(3,327)	(3,327)	(25,994)	(2,729)
Net gain from change in fair value of cash flow hedge instruments	202													111	111		91
Net loss on available-for-sale securities	(185)													(87)	(87)		(98)
Balance, end of period (in shares) at Dec. 31, 2021			248,896,649	0	0
Balance, end of period at Dec. 31, 2021	10,194,366							264,398	289,815			2,096,403	1,143,899	(5,374)	3,789,141	3,813,885	2,591,340
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Reverse stock split (in shares)		(248,895,649)
Deconsolidation of VIEs	(6,074,528)											7,741	(6,865)		876	(6,075,404)
Accretion of redeemable non-controlling interests	(67,196)											(67,196)			(67,196)
Capital contributions	4,138,614											905,549			905,549	3,233,065
Dividends/ Distributions	(6,712,013)							(17,531)	(19,125)			(1,660,705)	(2,034,245)		(3,731,606)	(806,336)	(2,174,071)
Transactions between entities under common control	22,586											22,586			22,586
Net Income	1,994,320							17,531	19,125				897,211		933,867	342,521	717,932
Currency translation adjustments, net of tax	(29,397)													(4,559)	(4,559)	(19,822)	(5,016)
Net gain from change in fair value of cash flow hedge instruments	1,976													882	882		1,094
Net loss on available-for-sale securities	(1,741)													(1,289)	(1,289)		(452)
Balance, end of period (in shares) at Dec. 31, 2022			1,000
Balance, end of period at Dec. 31, 2022	$ 3,466,987							$ 264,398	$ 289,815			$ 1,304,378	$ 0	$ (10,340)	$ 1,848,251	$ 487,909	$ 1,130,827

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash Flows from Operating Activities:
Net income	$ 1,994,320	$ 4,267,895	$ 466,802
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity-based compensation	484,057	1,180,663	213,140
Depreciation and amortization	85,247	27,330	18,828
Unrealized (gains) losses from investment activities	24,522	(2,586,150)	432,752
Net investment income	(800,134)	(3,699,209)	(392,181)
Deferred taxes, net	107,591	474,335	36,046
Pledge of Class A Common Stock	0	125,931	0
Other non-cash amounts included in net income, net	(7,796)	41,174	42,103
Cash flows due to changes in operating assets and liabilities:
Due from related parties	(232,757)	28,504	(43,404)
Accounts payable and accrued expenses	22,143	25,072	25,618
Accrued compensation and benefits	(15,326)	(1,180)	17,023
Deferred revenue	53,032	89,319	(50,901)
Due to related parties	19,604	(21,412)	28,380
Profit sharing payable	38,685	516,270	76,735
Lease liability	(53,636)	(30,933)	(20,639)
Other assets and other liabilities, net	(1,147,283)	78,829	7,699
Earnings from net investment income	1,081,205	2,082,944	283,587
Satisfaction of contingent obligations	(13,358)	(20,609)	(12,870)
Apollo Fund and VIE related:
Net Cash Provided by (Used in) Operating Activities	(2,825,618)	1,064,046	(1,616,430)
Cash Flows from Investing Activities:
Purchases of fixed assets	(202,525)	(64,738)	(59,562)
Acquisitions	0	0	48,518
Proceeds from sale of investments	155,852	88,606	21,855
Purchase of investments	(361,217)	(657,464)	(567,027)
Purchase of U.S. Treasury securities	(3,430,577)	(1,349,567)	(1,056,827)
Proceeds from maturities of U.S. Treasury securities	3,257,169	824,810	1,598,357
Cash contributions to principal investments	(192,202)	(366,778)	(217,030)
Cash distributions from principal investments	97,889	322,791	203,395
Related party inflows (Repayments)	37,340	166,780	9,040
Related party outflows (Issuances)	(27,562)	(167,653)	(315)
Other investing activities, net	0	(3,105)	(1,254)
Net Cash Provided by (Used in) Investing Activities	498,474	(1,551,675)	(837,659)
Cash Flows from Financing Activities:
Principal repayments of debt	(907)	(18,104)	(16,990)
Dividends to Preferred Stockholders	(36,656)	(36,656)	(36,656)
Issuance of debt	0	0	518,756
Satisfaction of tax receivable agreement	(51,032)	(39,884)	(48,195)
Distributions related to AGM’s repurchase of Common Stock	0	(299,352)	(91,617)
Distributions related to deliveries of AGM’s Common Stock for RSUs	(173,203)	(140,630)	(96,639)
Dividends / Distributions	(959,683)	(517,306)	(549,532)
Distributions paid to non-controlling interests in Apollo Operating Group	0	(518,399)	(488,328)
Issuance of related party loans	0	0	28,280
Repayment of related party loans	0	0	(28,280)
AOG Unit Payment	(219,084)	0	0
Due to parent, net	579,354	0	0
Other financing activities, net	(8,697)	(5,546)	(13,107)
Apollo Fund and VIE related:
Issuance of debt	0	0	518,756
Net Cash Provided by (Used in) Financing Activities	2,597,252	109,432	3,299,310
Net Increase (Decrease) in Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, and Cash and Cash Equivalents Held at Consolidated Funds and VIEs	270,108	(378,197)	845,221
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, and Cash and Cash Equivalents Held at Consolidated Funds and VIEs, Beginning of Period	2,088,334	2,466,531	1,621,310
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, and Cash and Cash Equivalents Held at Consolidated Funds and VIEs, End of Period	2,358,442	2,088,334	2,466,531
Supplemental Disclosure of Cash Flow Information:
Interest paid	119,595	135,010	128,792
Interest paid by consolidated variable interest entities	172,415	420,615	178,484
Income taxes paid	124,336	120,994	36,848
Supplemental Disclosure of Non-Cash Investing Activities:
Contributions to principal investments	0	57,911	0
Distributions from principal investments	7,361	92,863	(5,824)
Purchases of other investments, at fair value	9,332	0	1,168,841
Sales of other investments, at fair value	0	0	(1,179)
Capital commitment	0	0	(15,524)
Loss on Athene equity swap	0	0	(61,261)
Acquisition of goodwill	0	0	663
Contingent consideration	0	0	(6,208)
Capital increases related to equity-based compensation	412,556	1,151,583	173,832
Contributions	334,919	0	0
Purchase of limited partnership interests	0	569,617	0
Issuance of restricted shares	35,917	79,317	28,991
Issuance of AOG units to Athene	0	0	1,214,577
Distributions paid to non-controlling interests in consolidated variable interest entities	0	0	(515,558)
Other non-cash financing activities	0	(9,163)	36,874
Investments, at fair value	(16,543,165)	0	9,061,907
Other assets	(105,464)	0	130,907
Debt, at fair value	8,177,055	0	(7,344,884)
Notes payable	2,611,019	0	0
Other liabilities	534,225	0	(967,575)
Non-controlling interest in consolidated entities related to acquisition	6,114,994	0	(1,382,508)
Deferred tax assets	0	346,896	86,864
Due to related parties	0	(287,917)	(68,801)
Additional paid in capital	0	(58,979)	(28,904)
Non-controlling interest in Apollo Operating Group	0	186,749	16,967
Reconciliation of Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, and Cash and Cash Equivalents Held at Consolidated Variable Interest Entities to the Consolidated Statements of Financial Condition:
Cash and cash equivalents	1,200,735	917,183	1,555,517
Restricted cash and cash equivalents	1,048,129	707,885	17,708
Total Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, and Cash and Cash Equivalents Held at Consolidated Variable Interest Entities	2,358,442	2,088,334	2,466,531
Investments of Consolidated VIEs
Apollo Fund and VIE related:
Net realized and unrealized gains from investing activities and debt	(169,279)	(579,434)	(2,942)
Change in consolidation	(788,664)	(47,601)	502,153
Purchases of investments	(6,741,687)	(4,724,603)	(4,991,405)
Proceeds from sale of investments	3,218,288	3,534,135	2,082,740
Changes in other assets and other liabilities, net	15,608	302,776	(335,694)
Cash Flows from Investing Activities:
Purchase of U.S. Treasury securities	(1,508,782)	(3,141,392)	(816,809)
Proceeds from maturities of U.S. Treasury securities	2,673,089	2,796,035	0
Cash Flows from Financing Activities:
Principal repayments of debt	(3,513,693)	(1,949,597)	(907,745)
Issuance of debt	5,323,435	1,334,339	3,780,696
Apollo Fund and VIE related:
Issuance of debt	5,323,435	1,334,339	3,780,696
Distributions paid to non-controlling interests in consolidated entities	(798,458)	(979,968)	(367,487)
Contributions from non-controlling interests in consolidated entities	3,232,148	2,279,758	843,153
Proceeds from issuance of Class A Units of a SPAC	0	1,035,000	0
Payment of underwriting discounts	0	(34,223)	0
Contributions from Redeemable non-controlling interests	0	0	773,001
Distributions to redeemable non-controlling interests	(776,272)	0	0
Reconciliation of Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, and Cash and Cash Equivalents Held at Consolidated Variable Interest Entities to the Consolidated Statements of Financial Condition:
Cash and cash equivalents	$ 109,578	$ 463,266	$ 893,306

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Apollo Asset Management, Inc. (“AAM”, together with its consolidated subsidiaries, the “Company” or “Apollo”) is a high-growth, global alternative asset manager whose predecessor was founded in 1990. Its primary business is to raise, invest and manage funds, accounts and other vehicles, on behalf of some of the world’s most prominent pension, endowment and sovereign wealth funds and insurance companies, 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, incentive fees and performance allocations related to the performance of the respective funds that it manages. As of December 31, 2022, Apollo had two primary business segments: • Asset Management — focuses on three investing strategies: yield, hybrid and equity; yield focuses on generating excess returns through high quality credit underwriting and origination of safe-yielding assets; hybrid focuses across debt and equity to offer a differentiated risk-adjusted return with an emphasis on structured downside protected opportunities across asset classes; and within equity, controlled transactions are principally buyouts, corporate carveouts and distressed investments, while the real estate funds the Company manages generally focus on single asset, portfolio and platform acquisitions; • Principal Investing — primarily includes the Company’s general partner investments in the funds it manages, where the Company earns realized performance fee income based on the investment performance of these funds. Principal investing also includes the Company’s growth capital and liquidity resources. The Company seeks to deploy capital into strategic investments over time to help accelerate the growth of the asset management segment. Organization of the Company As of December 31, 2022, the Company owned 57.4% of the economic interests of, and operated and controlled all of the businesses and affairs of, the Apollo Operating Group. The remaining 42.6% of the economic interests of the Apollo Operating Group were owned by Apollo Global Management, Inc. (“AGM”). Apollo and Athene Merger On January 1, 2022, Apollo and Athene Holding Ltd. (“Athene”) completed the previously announced merger transactions pursuant to the Agreement and Plan of Merger (the “Merger Agreement”) by and among AAM, Tango Holdings, Inc., a Delaware corporation and a then wholly-owned subsidiary of AAM (“HoldCo”), Blue Merger Sub, Ltd., a Bermuda exempted company and a direct wholly-owned subsidiary of HoldCo (“AHL Merger Sub”), and Green Merger Sub, Inc., a Delaware corporation and a direct wholly-owned subsidiary of HoldCo (“AAM Merger Sub”). At the closing of the transactions, AHL Merger Sub merged with and into AHL (the “AHL Merger”), with AHL as the surviving entity in the AHL Merger and a subsidiary of HoldCo, and AAM Merger Sub merged with and into AAM (the “AAM Merger” and, together with the AHL Merger, the “Mergers”) with AAM as the surviving entity in the AAM Merger and a subsidiary of HoldCo. In connection with the closing of the Mergers, HoldCo was renamed “Apollo Global Management, Inc.” Following the closing of the Mergers, all of the common shares of AHL and AAM are owned by AGM. In connection with the closing of the Mergers, the Company completed a corporate recapitalization (the “Corporate Recapitalization”) which resulted in the recapitalization of AGM from an umbrella partnership C corporation (“Up-C”) structure to a corporation with a single class of common stock with one vote per share. Griffin Capital Contributions On March 1, 2022, AGM, the parent company of AAM, completed the acquisition of Griffin Capital’s U.S. wealth distribution business. On May 3, 2022, AGM completed the acquisition of Griffin Capital’s U.S. asset management business. On the dates of each acquisition, AGM concurrently executed agreements pursuant to which AGM contributed its interests in the respective Griffin Capital businesses to subsidiaries of AAM.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). The results of the Company and its subsidiaries are presented on a consolidated basis. Any ownership interest other than the Company’s interest in its subsidiaries is reflected as a non-controlling interest. Intercompany accounts and transactions have been eliminated. Management believes it has made all necessary adjustments (consisting only of normal recurring items) so that the consolidated financial statements are presented fairly and that any estimates made are reasonable and prudent. Certain reclassifications have been made to previously reported amounts to conform to the current period’s presentation. Consolidation The Company consolidates entities where it has a controlling financial interest unless there is a specific scope exception that prevents consolidation. The types of entities with which the Company is involved generally include, but are not limited to: • Subsidiaries, including management companies and general partners of funds that the Company manages • Funds, including entities that have attributes of an investment company • Special purpose acquisition companies (“SPACs”) • Securitization vehicles (e.g., collateralized loan obligations (“CLOs”) Each of these entities is assessed for consolidation based on its specific facts and circumstances. In determining whether to consolidate an entity, the Company first evaluates whether the entity is a variable interest entity (“VIE”) or a voting interest entity (“VOE”) and applies the appropriate consolidation model as discussed below. If an entity is not consolidated, then the Company’s investment is generally accounted for under the equity method of accounting or as a financial instrument as discussed in the related policy discussions below. Investment Companies Judgment is required to evaluate whether an entity has the necessary characteristics to be accounted for as an investment company. The funds managed by the Company that meet the investment company criteria are generally not required to consolidate operating companies and generally reflect their investments in operating companies and other investment companies at fair value. The Company has retained this specialized accounting for investment companies in consolidation. Variable Interest Entities All entities are first considered under the VIE model. VIEs are entities that (i) do not have sufficient equity at risk to finance their activities without additional subordinated financial support or (ii) have equity investors at risk that do not have the ability to make significant decisions related to the entity’s operations, absorb expected losses, or receive expected residual returns. The Company consolidates a VIE if it is the primary beneficiary of the entity. The Company is deemed the primary beneficiary when it has a controlling financial interest in the VIE, which is defined as possessing both (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance (“primary beneficiary power”) and (ii) the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant (“significant variable interest”). The Company performs the VIE and primary beneficiary assessment at inception of its involvement with a VIE and on an ongoing basis if facts and circumstances change. To assess whether the Company has the primary beneficiary power under the VIE consolidation model, it considers the design of the entity as well as ongoing rights and responsibilities. In general, the parties that can make the most significant decisions regarding asset management have control over servicing, liquidation rights or the unilateral right to remove the decision-makers. To assess whether the Company has a significant variable interest, the Company considers all its economic interests that are considered variable interests in the entity, including interests held through related parties. This assessment requires judgment in considering whether those interests are significant. Assets and liabilities of the consolidated VIEs, other than SPACs, are primarily shown in separate sections within the consolidated statements of financial condition. Changes in the fair value of the consolidated VIEs’ assets and liabilities and related interest, dividend and other income and expenses are primarily presented within net gains from investment activities of consolidated variable interest entities in the consolidated statements of operations. The portion attributable to non-controlling interests is reported within net income attributable to non-controlling interests in the consolidated statements of operations. For additional disclosures regarding VIEs, see notes 6 and 14. Voting Interest Entities Entities that are not determined to be VIEs are generally considered VOEs. 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 unrelated investors to either dissolve the fund or remove the general partner. Non-controlling Interests For entities that are consolidated, but not wholly owned, a portion of the income or loss and corresponding equity is allocated to owners other than the Company. 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 consolidated financial statements. Prior to the Corporate Recapitalization, the non-controlling interests relating to AGM included the ownership interest in the Apollo Operating Group held by Former Managing Partners and Contributing Partners through their limited partner interests in Holdings. Additionally, Athene held non-controlling interests in the Apollo Operating Group. Subsequent to the closing of the Mergers, Athene’s interest in the Apollo Operating Group was distributed to AGM. Non-controlling interests also include ownership interests in certain consolidated funds and VIEs. Non-controlling interests are presented as a separate component of stockholders’ equity on the Company’s consolidated statements of financial condition. The primary components of non-controlling interests are separately presented in the Company’s consolidated statements of changes in stockholders’ equity to clearly distinguish the interest in the Apollo Operating Group and other ownership interests in the consolidated entities. Net income includes the net income attributable to the holders of non-controlling interests on the Company’s consolidated statements of operations. Profits and losses are allocated to non-controlling interests in proportion to their relative ownership interests regardless of their basis. Use of Estimates The preparation of the consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts in the financial statements and related footnotes. Apollo’s most significant estimates include goodwill and intangible assets, income taxes, performance allocations, incentive fees, contingent consideration obligations related to an acquisition, non-cash compensation, and fair value of investments and debt. While such impact may change considerably over time, the estimates and assumptions affecting the Company’s consolidated financial statements are based on the best available information as of December 31, 2022. Actual results could differ materially from those estimates. Cash and Cash Equivalents Apollo considers all highly liquid short-term investments, including money market funds and U.S. Treasury securities, with original maturities of three months or less when purchased to be cash equivalents. Interest income from cash and cash equivalents is recorded in interest income in the consolidated statements of operations. The carrying values of the money market funds and U.S. Treasury securities represent their fair values due to their short-term nature. Substantially all of the Company’s cash on deposit is in interest bearing accounts with major financial institutions and exceed insured limits. Restricted Cash and Cash Equivalents Restricted cash and cash equivalents represent balances that are restricted as to withdrawal or usage. Restricted cash and cash equivalents of Apollo Strategic Growth Capital II (“APSG II”), a consolidated SPAC, is held in trust accounts and includes money market funds and U.S. Treasury bills with original maturities of three months or less, that were purchased with funds raised through the respective initial public offering of the consolidated entity. The $698.0 million in funds for APSG II as of December 31, 2022 is restricted for use and may only be used for purposes of completing an initial business combination or redemption of public shares as set forth in APSG II’s trust agreement. Refer to note 14 for further detail. Restricted cash and cash equivalents of Acropolis Infrastructure Acquisition Corp. (“Acropolis”), a consolidated SPAC, is held in a trust account and includes money market funds that were purchased with funds raised through the initial public offering of the consolidated entity. The $348.0 million in funds as of December 31, 2022 are restricted for use and may only be used for purposes of completing an initial business combination or redemption of public shares as set forth in the trust agreement. Refer to note 14 for further detail. U.S. Treasury Securities, at fair value U.S. Treasury securities, at fair value includes U.S. Treasury bills with original maturities greater than three months when purchased. These securities are recorded at fair value within investments in the consolidated statements of financial condition. Interest income on such securities is separately presented from the overall change in fair value and is recognized in interest income in the consolidated statements of operations. Any remaining change in fair value of such securities, that is not recognized as interest income, is recognized in net gains (losses) from investment activities in the consolidated statements of operations. Securities are generally recognized on a trade date basis. 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 (exit price) in an orderly transaction between market participants at the measurement date under current market conditions. Changes in the fair value of financial instruments are recorded and presented in net gains (losses) from investment activities except for certain investments for which the Company is entitled to receive performance allocations. For those investments, changes in fair value are presented in principal investment income and are included within investment income (loss) in the consolidated statement of operations. Financial instruments are generally recorded at fair value or at carrying values that approximate fair value. 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. Fair Value Option Entities are permitted to elect the fair value option (“FVO”) to carry at fair value certain financial assets and financial liabilities. The FVO election is irrevocable and can be applied to eligible financial instruments on an individual basis at initial recognition or at eligible remeasurement events. The Company has elected the FVO for financial instruments held by its consolidated CLOs, which includes investments in loans and corporate bonds, as well as debt obligations and contingent obligations. Certain consolidated VIEs have applied the FVO for investments in private debt securities that otherwise would not have been carried at fair value with gains and losses in net income. The Company has also elected the FVO for certain investments otherwise accounted for under the equity method of accounting. Refer to note 4 for additional information and other instances of when the Company has elected the FVO. Fair Value Hierarchy U.S. GAAP establishes a hierarchical disclosure framework which prioritizes and ranks the level of market price observability used in measuring financial instruments at fair value. Market price observability is affected by a number of factors, including the type of financial instrument, the characteristics specific to the financial instrument and the state of the marketplace, including the existence and transparency of transactions between market participants. Financial instruments with readily available quoted prices in active markets generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Financial instruments measured and reported at fair value are classified and disclosed based on the observability of inputs used in the determination of fair values, as follows: Level I - Quoted prices are available in active markets for identical financial instruments as of the reporting date. The Company does not adjust the quoted price for these financial instruments, 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. These financial instruments exhibit higher levels of liquid market observability as compared to Level III financial instruments. Level III - Pricing inputs are unobservable for the financial instrument and includes situations where there is little observable market activity for the financial instrument. The inputs into the determination of fair value may require significant management judgment or estimation. Financial instruments that are included in this category generally include investments 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 financial instrument would qualify for classification as Level II or Level III. 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 external pricing services. 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. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, a financial instrument’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 financial instrument when the fair value is based on unobservable inputs. Equity Method Investments For investments in entities over which the Company exercises significant influence but does not meet the requirements for consolidation and has not elected the fair value option, the Company uses the equity method of accounting. Under the equity method of accounting, the Company records its share of the underlying income or loss of such entities adjusted for distributions. The Company’s share of the underlying net income or loss of such entities is recorded in investment income (loss) in the consolidated statements of operations. The carrying amounts of equity method investments are recorded in investments in the consolidated statements of financial condition. Generally, the underlying entities that the Company manages and invests in are primarily investment companies, and the carrying value of the Company’s equity method investments approximates fair value. Reverse Repurchase Agreements and Repurchase Agreements A reverse repurchase agreement is a transaction in which the Company purchases financial instruments from a seller and simultaneously enters into an agreement to resell the same or substantially the same financial instruments to the seller at a fixed and determinable price at a future date. A repurchase agreement is a transaction in which the Company sells financial instruments to a buyer, typically in exchange for cash, and simultaneously enters into an agreement to repurchase the same or substant ially the same financial instruments from the buyer at a fixed and determinable price at a future date. Although reverse repurchase and repurchase agreements generally involve the legal transfer of ownership of financial instruments, they are accounted for as financing arrangements because they require the financial instruments to be resold or repurchased before or at the maturity of the agreement. As a result, the collateral received under reverse repurchase agreements are not recognized and the collateral pledged under repurchase agreements are not derecognized in the consolidated statements of financial condition. Reverse repurchase and repurchase agreements generally sit within consolidated VIEs and as such, those reverse repurchase and repurchase agreements are reflected as investments and other liabilities, respectively, within the consolidated VIE section of the consolidated statements of financial condition. Reverse repurchase agreements are generally accounted for by electing the fair value option. Earnings from reverse repurchase agreements are included in n et gains from investment activities of consolidated variable interest entities on the consolidated statements of operations. For reverse repurchase agreements, the Company generally requires collateral with a fair value at least equal to the carrying value of the loaned amount, monitors the market value of the collateral on a periodic basis, and delivers or obtains additional collateral due to changes in the fair value of the collateral, as appropriate, in order to mitigate credit exposure. Financial Instruments held by Consolidated VIEs The consolidated VIEs managed by the Company are primarily investment companies and CLOs. Their investments include debt and equity securities held at fair value and reverse repurchase agreements. Financial instruments are generally accounted for on a trade date basis. Under a measurement alternative permissible for consolidated collateralized financing entities, the Company measures both the financial assets and financial liabilities of consolidated CLOs in its consolidated financial statements in both cases using the fair value of the financial assets or financial liabilities, whichever are more observable. Where financial assets are more observable, 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 Company (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. Where financial liabilities are more observable, the financial liabilities of the consolidated CLOs are measured at fair value and the financial assets are measured in consolidation as: (i) the sum of the fair value of the financial liabilities, and the carrying value of any non-financial liabilities that are incidental to the operations of the CLOs less (ii) the carrying value of any non-financial assets that are incidental to the operations of the CLOs. The resulting amount is allocated to the individual financial assets using a reasonable and consistent methodology. Net income attributable to Apollo Asset Management, Inc. 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. Leases The Company determines if an arrangement is a lease or contains a lease at inception. Operating leases are included in lease assets and lease liabilities in the consolidated statements of financial condition. The Company does not have any finance leases. Lease assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Lease assets and lease liabilities are recognized at the date of commencement of the lease (the “commencement date”) based on the present value of lease payments over the lease term. As the rate implicit in most of the Company’s leases are not readily determinable, the Company uses its derived incremental borrowing rate based on information available at commencement date in determining the present value of lease payments. The determination of an appropriate incremental borrowing rate requires judgment. The Company determined its incremental borrowing rate based on consideration of market conditions, the Company’s overall creditworthiness, and recent debt and preferred equity issuances. The Company adjusts its rate accordingly based on the term of the leases. Certain lease agreements contain lease escalation or lease incentive provisions based on the terms of the arrangement with the landlord. Lease escalations and lease incentives, if any, are recognized on a straight-line basis over the lease term. The Company’s lease agreements may also include options to extend or terminate the lease. Options to extend would not be included in the lease term until it is reasonably certain that the Company will exercise that option. Lease expense is recognized on a straight line basis over the lease term and is recorded within general, administrative and other in the consolidated statements of operations. The Company has lease agreements with non-lease components (e.g., estimated operating expenses associate with the lease), which are accounted for separately. Due from/to Related Parties Due from/to related parties includes Apollo’s existing partners, employees, certain former employees, Apollo’s parent company, portfolio companies of the funds managed by Apollo and nonconsolidated funds. See note 14 for further disclosure of transactions with related parties. Other Assets Other assets primarily includes fixed assets, net, deferred equity-based compensation, prepaid expenses and intangible assets. Finite-lived intangible assets such as contractual rights to earn future management fees and incentive fees acquired in business combinations are amortized over their estimated useful lives, which are periodically re-evaluated for impairment or when circumstances indicate an impairment may have occurred. Apollo amortizes its identifiable finite-lived intangible assets using a method of amortization reflecting the pattern in which the economic benefits of the finite-lived intangible assets are consumed or otherwise used up. If that pattern cannot be reliably determined, Apollo uses the straight-line method of amortization. Fixed assets consist primarily of leasehold improvements, furniture, fixtures, equipment, and computer hardware and are recorded at cost, net of accumulated depreciation and amortization. Depreciation and amortization is calculated using the straight-line method over the assets’ estimated useful lives and in the case of leasehold improvements the lesser of the useful life or the term of the lease. Expenditures for repairs and maintenance are charged to expense when incurred. The Company evaluates long-lived assets for impairment periodically and whenever events or changes in circumstances indicate the carrying amounts of the assets may be impaired. Business Combinations The Company accounts for business combinations using the acquisition method of accounting, under which the purchase price of the acquisition is allocated to the assets acquired and liabilities assumed using the fair values determined by management as of the acquisition date. Contingent consideration obligations that are elements of the consideration transferred are recognized as of the acquisition date as part of the fair value transferred in exchange for the acquired business. Acquisition-related costs incurred in connection with a business combination are expensed as incurred. Goodwill Goodwill represents the excess of cost over the fair value of identifiable net assets of an acquired business. Goodwill and other indefinite lived intangible assets are tested annually for impairment or more frequently if circumstances indicate impairment may have occurred. The Company performed its annual goodwill impairment test as of October 1, 2022 and 2021 and did not identify any impairment. Deferred Revenue Apollo records deferred revenue, which is a type of contract liability, when consideration is received in advance of management services provided. Deferred revenue is reversed and recognized as revenue over the period that the agreed upon services are performed. It is included in accounts payable, accrued expenses, and other liabilities in the consolidated statements of financial condition. Apollo also earns management fees which are subject to an offset. When Apollo 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 the relevant fund. Such credit is recorded as deferred revenue in the consolidated statements of financial condition within the accounts payable, accrued expenses, and other liabilities line item. 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 Company are presented on a gross basis, any management fee offsets calculated are presented as a reduction to advisory and transaction fees in the 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 Apollo manages. When Apollo receives a payment from a portfolio company that exceeds the advisory fees earned at that point in time, the excess payment is recorded as deferred revenue in the 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. There was $114.0 million of revenue recognized during the year ended December 31, 2022 that was previously deferred as of January 1, 2022. 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 it manages to investors. In cases where the limited partners of the funds are determined to be the customer in an arrangement, placement fees may be capitalized as a cost to acquire a customer contract, and amortized over the life of the customer contract. Capitalized placement fees are recorded within other assets in the consolidated statements of financial condition, while amortization is recorded within general, administrative and other in the consolidated statements of operations. 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. Debt Issuance Costs Debt issuance costs consist of costs incurred in obtaining financing and are amortized over the term of the financing using the effective interest method. These costs are generally recorded as a direct deduction from the carrying amount of the related debt liability on the consolidated statements of financial condition. Redeemable non-controlling interests Redeemable non-controlling interests are attributable to VIEs and primarily represent the shares issued by the Company’s consolidated SPACs whose shares are redeemable for cash by the respective public shareholders in connection with the applicable SPAC’s failure to complete a business combination or its tender offer/stockholder approval provisions. The redeemable non-controlling interests are initially recorded at their original issue price, net of issuance costs and the initial fair value of separately traded warrants. The carrying amount is accreted to its redemption value over the period from the date of issuance to the earliest redemption date of the instrument. The accretion to redemption value is generally recorded against additional paid-in capital. Refer to note 14 for further detail. Foreign Currency The Company may, from time to time, hold foreign currency denominated assets and liabilities. The functional currency of the Company’s international subsidiaries is generally the U.S. Dollar, as their operations are considered an extension of U.S. parent operations. Nonmonetary assets and liabilities of the Company’s international subsidiaries are remeasured into the functional currency using historical exchange rates specific to each asset and liability, the exchange rates prevailing at the end of each reporting period is used for all others. The results of the Company’s foreign operations are normally remeasured using an average exchange rate for the respective reporting period. Currency remeasurement adjustments are included within other income, net in the consolidated statements of operations. Gains and losses on the settlement of foreign currency transactions are also included within other income, net in the consolidated statements of operations. Foreign currency denominated assets and liabilities are translated into the reporting currency using the exchange rates prevailing at the end of each reporting period. The results of the Company’s foreign operations are normally translated using an average exchange rate for the respective reporting period. Currency translation adjustments are included within other comprehensive income (loss), net of tax within the consolidated statements of comprehensive income. Revenues The Company’s revenues include (i) management fees; (ii) advisory and transaction fees, net; (iii) investment income, which is compri

GOODWILL

GOODWILL	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL In connection with the completion of the Mergers, the Company undertook a strategic review of its operating structure and business segments to assess the performance of its businesses and the allocation of resources. As a result, the Company reorganized into two reportable segments, asset management and principal investing. The Company conducted interim impairment testing immediately prior and subsequent to the reorganization and determined there to be no impairment of historical goodwill. The following table presents Apollo’s goodwill by segment: As of As of Asset Management $ 231,562 $ 84,776 Principal Investing 32,182 32,182 Total Goodwill $ 263,744 $ 116,958 The Company’s parent, AGM, acquired Griffin Capital’s U.S. wealth distribution business and U.S. asset management business in two separate closings on March 1, 2022 and May 3, 2022 and recorded goodwill of $13.1 million and $133.6 million, respectively, on each acquisition date. AGM concurrently executed agreements on each acquisition date to contribute its interests in the Griffin Capital businesses to subsidiaries of AAM and applied pushdown accounting, including for the recognition of these goodwill amounts. As a result, AAM records these amounts as goodwill in the consolidated statements of financial condition.

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS	INVESTMENTS The following table presents Apollo’s investments: As of As of Investments, at fair value $ 1,321,220 $ 5,588,992 Equity method investments 978,923 1,345,750 Performance allocations 2,635,180 2,731,733 U.S. Treasury Securities, at fair value 708,844 1,687,105 Total Investments $ 5,644,167 $ 11,353,580 Investments, at Fair Value Investments, at fair value, consist of investments for which the fair value option has been elected and primarily include the Company’s investment in Athora, other strategic investments, investments in debt of unconsolidated CLOs and, as of December 31, 2021, also included the Company’s investment in Athene Holding. Changes in the fair value related to these investments are presented in net gains (losses) from investment activities except for certain investments for which the Company is entitled to receive performance allocations. For those investments, changes in fair value are presented in principal investment income and are included within investment income in the consolidated statements of operations. Prior to the Mergers, the Company’s equity investment in Athene Holding, for which the fair value option was elected, met the significance criteria as defined by the SEC, as of December 31, 2021. During the first quarter of 2022, the Company’s investment in Athene Holding was distributed to AGM. As such, the following tables present summarized financial information of Athene Holding: For the Year Ended December 31, 2021 (in millions) Statements of Financial Condition Investments $ 177,567 Assets 235,149 Liabilities 212,968 Equity 22,181 For the Years Ended December 31, 2022 (1) 2021 2020 (in millions) Statements of Operations Revenues $ (269) $ 26,320 $ 14,764 Benefits and expenses 2,504 22,134 12,558 Income (loss) before income taxes (2,773) 4,186 2,206 Income tax expense (benefit) (407) 386 285 Net income (loss) (2,366) 3,800 1,921 Less: Net income (loss) attributable to non-controlling interests (883) (59) 380 Net income (loss) available to Athene Holding Ltd. shareholders $ (1,483) $ 3,859 $ 1,541 Less: Preferred stock dividends 35 141 95 Net income (loss) available to Athene Holding Ltd. common shareholders $ (1,518) $ 3,718 $ 1,446 (1) Reflects financial information for the quarter ended March 31, 2022. Net Gains (Losses) from Investment Activities The following table presents the realized and net change in unrealized gains reported in net gains (losses) from investment activities: For the Years Ended December 31, 2022 2021 2020 Realized gains (losses) on sales of investments, net $ 199,372 $ (238) $ 2,081 Net change in unrealized gains (losses) due to changes in fair value 735,392 2,611,141 (457,568) Net gains (losses) from investment activities $ 934,764 $ 2,610,903 $ (455,487) Equity Method Investments The tables below present summarized financial information of the Company’s equity method investments in aggregate: Statement of Financial Condition As of December 31, 2022 (1) 2021 (1) Investments $ 192,697,767 $ 167,822,116 Assets 213,480,443 179,261,843 Liabilities 115,817,931 103,549,788 Equity 97,662,512 75,712,055 Statement of Operations For the Years Ended 2022 (1) 2021 (1) 2020 (1) Revenues/Investment Income $ 7,647,558 $ 5,248,925 $ 7,283,270 Expenses 7,629,387 4,935,441 6,075,122 Net Investment Income (Loss) 18,171 313,484 1,208,148 Net Realized and Unrealized Gain (Loss) 2,687,584 15,881,825 2,376,496 Net Income (Loss) 2,705,755 16,195,309 3,584,644 (1) Certain fund amounts are as of and for the twelve months ended September 30, 2022, 2021 and 2020 and exclude amounts related to Athene Holding. Performance Allocations Performance allocations receivable is recorded within investments in the consolidated statements of financial condition. The table below provides a roll forward of the performance allocations balance: Total Performance allocations, January 1, 2021 $ 1,624,156 Change in fair value of funds 2,768,435 Fund distributions to the Company (1,660,858) Performance allocations, December 31, 2021 $ 2,731,733 Change in fair value of funds 676,447 Fund distributions to the Company (773,000) Performance allocations, December 31, 2022 $ 2,635,180 The change in fair value of funds excludes the general partner obligation to return previously distributed performance allocations, which is recorded in due to related parties in the consolidated statements of financial condition. See note 14 for further disclosure regarding the general partner obligation. The timing of the payment of performance allocations due to the general partner or investment manager varies depending on the terms of the applicable fund agreements. Performance allocations with respect to certain funds are payable and are distributed to

PROFIT SHARING PAYABLE

PROFIT SHARING PAYABLE	12 Months Ended
	Dec. 31, 2022
Profit Sharing Payable [Abstract]
PROFIT SHARING PAYABLE	PROFIT SHARING PAYABLE Profit sharing payable was $1.4 billion and $1.4 billion as of December 31, 2022 and December 31, 2021, respectively. The table below provides a roll forward of the profit sharing payable balance: Total Profit sharing payable, January 1, 2021 $ 842,677 Profit sharing expense 1,469,800 Payments/other (867,825) Profit sharing payable, December 31, 2021 $ 1,444,652 Profit sharing expense 533,012 Payments/other (565,213) Profit sharing payable, December 31, 2022 $ 1,412,451 Profit sharing expense includes (i) changes in amounts payable to employees and former employees entitled to a share of performance revenues in funds managed by Apollo and (ii) changes to the fair value of the contingent consideration obligations recognized in connection with certain Apollo acquisitions. Profit sharing expense excludes the potential return of profit sharing distributions that would be due if certain funds were liquidated, which is recorded in due from related parties in the consolidated statements of financial condition. See note 14 for further disclosure regarding the potential return of profit sharing distributions. As discussed in note 2, under certain profit sharing arrangements, the Company requires that a portion of certain of the performance revenues distributed to its employees be used to purchase restricted shares of AGM’s common stock issued under AGM’s Equity Plan. Prior to distribution of the performance revenues, the Company records the value of the equity-based awards expected to be granted in other assets and other liabilities within the consolidated statements of financial condition. See note 8 for further disclosure regarding deferred equity-based compensation.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES A variable interest in a VIE is an investment or other interest that will absorb portions of the VIE’s expected losses and/or receive expected residual returns. Refer to note 2 for more detail about the Company’s VIE assessment and consolidation policy. Variable interests in consolidated VIEs and unconsolidated VIEs are discussed separately below. Consolidated Variable Interest Entities Consolidated VIEs include consolidated SPACs as well as certain CLOs and funds managed by the Company. The financial information for these consolidated SPACs are disclosed in note 14. The assets of consolidated VIEs are not available to creditors of the Company, and the investors in these consolidated VIEs have no recourse against the assets of the Company. Similarly, there is no recourse to the Company for the consolidated VIEs’ liabilities. Other assets include interest receivables, receivables from affiliates, due from brokers and reverse repurchase agreements. Other liabilities include payables for securities purchased, which represent open trades within the consolidated CLOs and primarily relate to corporate loans that are expected to settle within 60 days, debt held at amortized cost, short-term payables and repurchase agreements. Included within liabilities of the consolidated VIEs are notes payable related to certain funds managed by the Company. Each series of notes in a respective consolidated VIE participates in distributions from the VIE, including principal and interest from underlying investments. Amounts allocated to the noteholders reflect amounts that would be distributed if the VIE’s assets were liquidated for cash equal to their respective carrying values, its liabilities satisfied in accordance with their terms, and all the remaining amounts distributed to the noteholders. The respective VIEs that issue the notes payable are marked at their prevailing net asset value, which approximates fair value. Results from certain funds managed by the Company are reported on a three month lag based upon the availability of financial information. Net Gains from Investment Activities of Consolidated Variable Interest Entities The following table presents net gains from investment activities of the consolidated VIEs: For the Years Ended December 31, 2022 (1) 2021 (1) 2020 (1) Net gains (losses) from investment activities $ 158,785 $ 525,740 $ (22,451) Net gains from debt 10,138 54,638 27,118 Interest and other income 263,753 745,590 440,425 Interest and other expenses (27,587) (768,679) (247,723) Net gains from investment activities of consolidated variable interest entities $ 405,089 $ 557,289 $ 197,369 (1) Amounts reflect consolidation eliminations. Senior Secured Notes, Subordinated Notes, Subscription Lines and Secured Borrowings Included within debt, at fair value, notes payable, and other liabilities are amounts due to third-party institutions by the consolidated VIEs. The following table summarizes the principal provisions of those amounts. As of December 31, 2022 As of December 31, 2021 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) $ — N/A N/A $ 7,431,467 3.16 % 15.5 Subordinated Notes (2) — N/A N/A 613,192 N/A (1) 14.5 Subscription Lines (2) 686,473 6.22 % 0.08 — N/A N/A Secured Borrowings (2)(3) — N/A N/A 18,149 2.33 % 0.4 Total $ 686,473 $ 8,062,808 (1) The principal outstanding balance of the subordinated notes do not have contractual interest rates but instead receive distributions from the excess cash flows of the VIEs. (2) The notes, subscription lines and borrowings of the consolidated VIEs are collateralized by assets held by each respective vehicle and assets of one vehicle may not be used to satisfy the liabilities of another vehicle. (3) As of December 31, 2021, secured borrowings consist of consolidated VIEs’ obligations through a repurchase agreement redeemable at maturity with third party lenders. The fair value of the secured borrowings as of December 31, 2021 approximates principal outstanding due to the short term nature of the borrowings. These secured borrowings are classified as a Level III liability within the fair value hierarchy. Repurchase Agreements The following table summarizes the maturities of repurchase agreements: December 31, 2022 Remaining Contractual Maturity Overnight and continuous Less than 30 days 30-90 days 91 days to 364 days 1 year and greater Total Payables for repurchase agreements (1) $ — $ — $ — $ 1,254,109 $ — $ 1,254,109 (1) Included in other liabilities of consolidated variable interest entities on the consolidated statements of financial condition. The following table summarizes the gross carrying value of repurchase agreements by class of collateral pledged: December 31, 2022 Loans backed by residential real estate $ 770,190 Loans backed by commercial real estate 483,919 Total $ 1,254,109 Note: These repurchase agreements are carried at cost which approximates fair value and is classified as Level II of the fair value hierarchy. Reverse Repurchase Agreements As of December 31, 2022, fair value of collateral received under reverse repurchase agreements was $1,522 million and fair value of collateral rehypothecated was $1,522 million. Unconsolidated Variable Interest Entities 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 table presents the maximum exposure to losses relating to these VIEs for which Apollo has concluded that it holds a significant variable interest, but that it is not the primary beneficiary. As of (2) As of (2) Apollo Exposure (1) $ 343,383 $ 240,871 (1) Represents Apollo’s direct investment in those entities in which Apollo holds a significant variable interest and certain other investments. Additionally, cumulative performance allocations are subject to reversal in the event of future losses, as discussed in note 15. (2) Some amounts included are a quarter in arrears.

FAIR VALUE MEASUREMENTS OF FINA

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS	FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS The following tables summarize the Company’s financial assets and financial liabilities recorded at fair value by fair value hierarchy level: As of December 31, 2022 Level I Level II Level III NAV Total Assets Cash and cash equivalents (1) $ 1,200,735 $ — $ — $ — $ 1,200,735 Restricted cash and cash equivalents (2) 1,048,129 — — — 1,048,129 Cash and cash equivalents of VIEs 109,578 — — — 109,578 U.S. Treasury securities (3) 708,844 — — — 708,844 Investments, at fair value 189,995 38,729 1,084,349 (4) 8,147 1,321,220 Investments of VIEs, at fair value — 1,537,479 727,200 106,205 2,370,884 Due from related parties (5) — — 43,413 — 43,413 Derivative assets (6) — — 15,492 — 15,492 Total Assets $ 3,257,281 $ 1,576,208 $ 1,870,454 $ 114,352 $ 6,818,295 Liabilities Other liabilities of VIEs, at fair value $ — $ 24 $ — $ — $ 24 Contingent consideration obligations (7) — — 55,016 — 55,016 Other liabilities (8) 1,932 — — — 1,932 Derivative liabilities (6) — 56,674 — — 56,674 Total Liabilities $ 1,932 $ 56,698 $ 55,016 $ — $ 113,646 As of December 31, 2021 Level I Level II Level III NAV Total Assets Cash and cash equivalents (1) $ 917,183 $ — $ — $ — $ 917,183 Restricted cash and cash equivalents (2) 707,885 — — — 707,885 Cash and cash equivalents of VIEs 463,266 — — — 463,266 U.S. Treasury securities (3) 1,687,105 — — — 1,687,105 Investments Investment in Athene Holding 4,548,048 — — — 4,548,048 Other investments 48,493 46,267 946,184 (4) — 1,040,944 Total investments 4,596,541 46,267 946,184 — 5,588,992 Investments of VIEs, at fair value 6,232 1,055,421 13,187,803 487,595 14,737,051 Due from related parties (5) — — 47,835 — 47,835 Derivative assets (6) — 7,436 — — 7,436 Total Assets $ 8,378,212 $ 1,109,124 $ 14,181,822 $ 487,595 $ 24,156,753 Liabilities Debt of VIEs, at fair value $ — $ 446,029 $ 7,496,479 $ — $ 7,942,508 Other liabilities of VIEs, at fair value — 3,111 31,090 557 34,758 Contingent consideration obligations (7) — — 125,901 — 125,901 Other liabilities (8) 47,961 — — — 47,961 Derivative liabilities (6) — 1,520 — — 1,520 Total Liabilities $ 47,961 $ 450,660 $ 7,653,470 $ 557 $ 8,152,648 (1) Cash and cash equivalents as of December 31, 2022 and December 31, 2021 includes $0.4 million and $1.8 million, respectively, of cash and cash equivalents held by consolidated SPACs. Refer to note 14 for further information. (2) Restricted cash and cash equivalents as of December 31, 2022 and December 31, 2021 includes $1.0 billion and $690.2 million, respectively, of restricted cash and cash equivalents held by consolidated SPACs. Refer to note 14 for further information. (3) U.S. Treasury securities as of December 31, 2021 includes $1.2 billion of U.S. Treasury securities held by consolidated SPACs. Refer to note 14 for further information. (4) Investments as of December 31, 2022 and December 31, 2021 excludes $198.1 million and $175.8 million, respectively, of performance allocations classified as Level III related to certain investments for which the Company elected the fair value option. The Company’s policy is to account for performance allocations as investments. (5) Due from related parties represents a receivable from a fund. (6) Derivative assets and derivative liabilities are presented as a component of Other assets and Other liabilities, respectively, in the consolidated statements of financial condition. (7) Profit sharing payable includes contingent obligations classified as Level III. (8) Other liabilities as of December 31, 2022 includes the publicly traded warrants of APSG II. Other liabilities as of December 31, 2021 includes the publicly traded warrants of APSG I and APSG II. 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 Year Ended December 31, 2022 Investments and Derivative Assets Investments of Consolidated VIEs Total Balance, Beginning of Period $ 946,184 $ 13,187,803 $ 14,133,987 Net transfer in (out) due to consolidation (deconsolidation) 21,710 (12,627,487) (12,605,777) Purchases 232,244 3,111,780 3,344,024 Sale of investments/distributions (121,160) (3,196,867) (3,318,027) Net realized gains (losses) 47,134 30,263 77,397 Changes in net unrealized gains (losses) 7,472 204,018 211,490 Cumulative translation adjustment (34,747) (10,808) (45,555) Transfer into Level III (1) 1,004 38,465 39,469 Transfer out of Level III (1) — (9,967) (9,967) Balance, End of Period $ 1,099,841 $ 727,200 $ 1,827,041 Change in net unrealized gains included in investment income (loss) related to investments still held at reporting date $ 56,483 $ — $ 56,483 Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to investments still held at reporting date — 17,261 17,261 For the Year Ended December 31, 2021 Other Investments Investments of Consolidated VIEs Total Balance, Beginning of Period $ 369,772 $ 10,962,980 $ 11,332,752 Transfer out due to deconsolidation — (230,541) (230,541) Purchases 492,326 3,679,767 4,172,093 Sale of investments/distributions (3,235) (1,444,857) (1,448,092) Net realized gains (losses) 20,063 34,152 54,215 Changes in net unrealized gains (losses) 81,613 444,686 526,299 Cumulative translation adjustment (12,639) (31,717) (44,356) Transfer into Level III (1) 706 44,686 45,392 Transfer out of Level III (1) (2,422) (271,353) (273,775) Balance, End of Period $ 946,184 $ 13,187,803 $ 14,133,987 Change in net unrealized gains included in investment income (loss) related to investments still held at reporting date $ 81,613 $ — $ 81,613 Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to investments still held at reporting date — 307,829 307,829 (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 external pricing services. 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 Year Ended December 31, 2022 Contingent Consideration Obligations Debt and Other Liabilities of Consolidated VIEs Total Balance, Beginning of Period $ 125,901 $ 7,527,569 $ 7,653,470 Transfer out due to deconsolidation — (7,057,668) (7,057,668) Issuances — 1,276 1,276 Payments (13,358) (443,509) (456,867) Net realized (gains) losses — (480) (480) Changes in net unrealized (gains) losses (1) (57,527) (16,368) (73,895) Cumulative translation adjustment — (10,820) (10,820) Balance, End of Period $ 55,016 $ — $ 55,016 For the Year Ended December 31, 2021 Contingent Consideration Obligations Debt and Other Liabilities of Consolidated VIEs Total Balance, Beginning of Period $ 119,788 $ 7,100,620 $ 7,220,408 Issuances — 705,726 705,726 Payments (20,609) (320,529) (341,138) Net realized (gains) losses — 6,713 6,713 Changes in net unrealized (gains) losses (1) 26,722 66,212 92,934 Cumulative translation adjustment — (31,626) (31,626) Transfers into Level III (2) — 453 453 Balance, End of Period $ 125,901 $ 7,527,569 $ 7,653,470 Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to debt and other liabilities still held at reporting date $ — $ 44,895 $ 44,895 (1) Changes in fair value of contingent consideration obligations are recorded in profit sharing expense in the consolidated statements of operations. (2) 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. 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 December 31, 2022 Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted Average (1) Financial Assets Investments $ 525,696 Embedded value N/A N/A N/A 128,368 Discounted cash flow Discount rate 8.9% - 52.8% 28.7% 430,285 Adjusted transaction value N/A N/A N/A Due from related parties 43,413 Discounted cash flow Discount rate 15.0% 15.0% Derivative assets 15,492 Option model Volatility rate 60.0% 60.0% Investments of consolidated VIEs: Equity securities 458,282 Dividend discount model Discount rate 12.1% 12.1% Bank loans 243,703 Discounted cash flow Discount rate 6.4% - 32.7% 8.0% Adjusted transaction value N/A N/A N/A Bonds 25,065 Discounted cash flow Discount rate 7.9% 7.9% Warrants 150 Discounted cash flow Discount rate 15.4% 15.4% Total Financial Assets $ 1,870,454 Financial Liabilities Contingent Consideration Obligation 55,016 Discounted cash flow Discount rate 20.0% - 25.0% 23.6% Total Financial Liabilities $ 55,016 As of December 31, 2021 Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted Average (1) Financial Assets Other investments $ 516,221 Embedded value N/A N/A N/A 169,625 Discounted cash flow Discount rate 14.0% - 52.8% 26.4% 260,338 Adjusted transaction value N/A N/A N/A Due from related parties 47,835 Discounted cash flow Discount rate 16.0% 16.0% Investments of consolidated VIEs: Equity securities 4,144,661 Discounted cash flow Discount rate 3.0% - 19.0% 10.4% Dividend discount model Discount rate 13.7% 13.7% Market comparable companies NTAV multiple 1.25x 1.25x Adjusted transaction value Purchase multiple 1.25x 1.25x Adjusted transaction value N/A N/A N/A Bank loans 4,569,873 Discounted cash flow Discount rate 1.8% - 15.6% 4.3% Adjusted transaction value N/A N/A N/A Profit participating notes 2,849,150 Discounted cash flow Discount rate 8.7% - 12.5% 12.4% Adjusted transaction value N/A N/A N/A Real estate 511,648 Discounted cash flow Capitalization rate 4.0% - 5.8% 5.3% Discounted cash flow Discount rate 5.0% - 12.5% 7.3% Discounted cash flow Terminal capitalization rate 8.3% 8.3% Direct capitalization Capitalization rate 5.5% - 8.5% 6.2% Direct capitalization Terminal capitalization rate 6.0% - 12.0% 6.9% Bonds 50,885 Discounted cash flow Discount rate 4.0% - 7.0% 6.1% Third party pricing N/A N/A N/A As of December 31, 2021 Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted Average (1) Other equity investments 1,061,586 Discounted cash flow Discount rate 11.8% -12.5% 12.1% Adjusted transaction value N/A N/A N/A Total Investments of Consolidated VIEs 13,187,803 Total Financial Assets $ 14,181,822 Financial Liabilities Liabilities of Consolidated VIEs: Secured loans $ 4,311,348 Discounted cash flow Discount rate 1.4% - 10.0% 2.8% Subordinated notes 3,164,491 Discounted cash flow Discount rate 4.5% - 11.9% 5.8% Participating equity 20,640 Discounted cash flow Discount rate 15.0% 15.0% Other liabilities 31,090 Discounted cash flow Discount rate 3.7% - 9.3% 6.3% Total Liabilities of Consolidated VIEs 7,527,569 Contingent Consideration Obligation 125,901 Discounted cash flow Discount rate 18.5% 18.5% Total Financial Liabilities $ 7,653,470 N/A Not applicable EBITDA Earnings before interest, taxes, depreciation, and amortization NTAV Net tangible asset value (1) Unobservable inputs were weighted based on the fair value of the investments included in the range. Fair Value Measurement of Investment in Athene Holding At December 31, 2021, the fair value of Apollo’s Level I investment in Athene Holding was estimated using the closing market price of Athene Holding shares of $83.33. Following the Mergers, as of December 31, 2022, AAM no longer holds an interest in AHL as further described in note 14. Discounted Cash Flow Model 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 and the contingent consideration obligations; conversely decreases in the discount rate can significantly increase the fair value of an investment and the contingent consideration obligations. Consolidated VIEs’ Investments The significant unobservable inputs used in the fair value measurement of the equity securities include the discount rate applied, purchase multiple and net tangible asset value in the valuation models. These unobservable inputs in isolation can cause significant increases or decreases in fair value. The discount rate is determined based on the market rates an investor would expect for a similar investment with similar risks. The significant unobservable inputs used in the fair value measurement of bank loans, bonds, profit participating notes, warrants and other equity investments are discount rates. Significant increases (decreases) in discount rates would result in significantly lower (higher) fair value measurements. The significant unobservable inputs used in the fair value measurement of real estate are discount rates and capitalization rates. Significant increases (decreases) in any discount rates or capitalization rates in isolation would result in significantly lower (higher) fair value measurements. Certain investments of VIEs are valued using the NAV per share equivalent calculated by the investment manager as a practical expedient to determine an independent fair value. Consolidated VIEs’ Liabilities The debt obligations of certain consolidated VIEs, that are CLOs, were measured on the basis of the fair value of the financial assets of those CLOs as the financial assets were determined to be more observable and, as a result, categorized as Level II in the fair value hierarchy. The significant unobservable inputs used in the fair value measurement of the Company’s liabilities of consolidated VIEs are discount rates. Significant increases (decreases) in discount rates would result in a significantly lower (higher) fair value measurement. Certain liabilities of VIEs are valued using the NAV per share equivalent calculated by the investment manager as a practical expedient to determine an independent fair value. 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. The discount rate was based on the hypothetical cost of equity in connection with the acquisition of Stone Tower. See note 15 for further discussion of the contingent consideration obligations. Valuation of Underlying Investments As previously noted, the underlying entities that the Company manages and invests in are primarily investment companies which account for their investments at estimated fair value. On a quarterly basis, valuation committees consisting of members from senior management review and approve the valuation results related to the investments of the funds the Company manages. For certain publicly traded vehicles managed by the Company, a review is performed by an independent board of directors. The Company also retains external 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 external 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. Yield Investments Yield investments are generally valued based on third party vendor prices and/or quoted market prices and valuation models. Valuations using quoted market prices are based on the average of the “bid” and the “ask” quotes provided by multiple brokers wherever possible without any adjustments. Apollo will designate certain brokers to use to value specific securities. In determining the designated brokers, Apollo considers the following: (i) brokers with which Apollo has previously transacted, (ii) the underwriter of the security and (iii) active brokers indicating executable quotes. In addition, when valuing a security based on broker quotes wherever possible Apollo tests the standard deviation amongst the quotes received and the variance between the concluded fair value and the value provided by a pricing service. When broker quotes are not available Apollo considers the use of pricing service quotes or other sources to mark a position. When relying on a pricing service as a primary source, Apollo (i) analyzes how the price has moved over the measurement period, (ii) reviews the number of brokers included in the pricing service’s population, if available, and (iii) validates the valuation levels with Apollo’s pricing team and traders. Debt securities that are not publicly traded or whose market prices are not readily available are valued at fair value utilizing a model based approach to determine fair value. Valuation approaches used to estimate the fair value of illiquid credit investments also may include the income approach, as described below. The valuation approaches used consider, as applicable, market risks, credit risks, counterparty risks and foreign currency risks. Equity and Hybrid Investments The majority of illiquid equity and hybrid investments are valued using the market approach and/or the income approach, as described below. Market Approach The market approach is driven 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 any of the following factors: (1) the subject company’s historical and projected financial data; (2) valuations given to comparable companies; (3) the size and scope of the subject company’s operations; (4) the subject company’s individual strengths and weaknesses; (5) expectations relating to the market’s receptivity to an offering of the subject company’s securities; (6) applicable restrictions on transfer; (7) industry and market information; (8) general economic and market conditions; and (9) other factors deemed relevant. Market approach valuation models typically employ a multiple that is based on one or more of the factors described above. Enterprise value as a multiple of EBITDA is common and relevant for most companies and industries, however, other industry specific multiples are employed where available and appropriate. Sources for gaining additional knowledge related to comparable companies include public filings, annual reports, analyst research reports and press releases. Once a comparable company set is determined, Apollo reviews certain aspects of the subject company’s performance and determines how its performance compares to the group and to certain individuals in the group. Apollo compares certain measurements such as EBITDA margins, revenue growth over certain time periods, leverage ratios and growth opportunities. In addition, Apollo compares the entry multiple and its relation to the comparable set at the time of acquisition to understand its relation to the comparable set on each measurement date. Income Approach 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 for the income approach is a discounted cash flow method. Inherent in the discounted cash flow method are significant assumptions related to the subject company’s expected results, the determination of a terminal value and a calculated discount rate, which is normally based on the subject company’s weighted average cost of capital, or “WACC.” The WACC represents the required rate of return on total capitalization, which is comprised of a required rate of return on equity, plus the current tax-effected rate of return on debt, weighted by the relative percentages of equity and debt that are typical in the industry. The most critical step in determining the appropriate WACC for each subject company is to select companies that are comparable in nature to the subject company and the credit quality of the subject company. Sources for gaining additional knowledge about the comparable companies include public filings, annual reports, analyst research reports and press releases. The general formula then used for calculating the WACC considers the after-tax rate of return on debt capital and the rate of return on common equity capital, which further considers the risk-free rate of return, market beta, market risk premium and small stock premium, if applicable. The variables used in the WACC formula are inferred from the comparable market data obtained. The Company evaluates the comparable companies selected and concludes on WACC inputs based on the most comparable company or analyzes the range of data for the investment. 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. Certain of the funds Apollo manages may 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 the period, the changes in value are recorded in income as unrealized. Realized gains or losses are recognized when contracts are settled. Total return swap 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.

OTHER ASSETS

OTHER ASSETS	12 Months Ended
	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other assets consisted of the following: As of As of Fixed assets $ 447,065 $ 256,252 Less: Accumulated depreciation and amortization (160,654) (130,072) Fixed assets, net 286,411 126,180 Deferred equity-based compensation (1) 279,973 282,900 Intangible assets, net (2) 179,215 14,846 Commitment asset (3) 138,385 — Prepaid expenses 62,098 57,765 Tax receivables 92,610 30,334 Other 137,063 73,876 Total Other Assets $ 1,175,755 $ 585,901 (1) Deferred equity-based compensation relates to the value of equity-based awards that have been or are expected to be granted in connection with the settlement of certain profit sharing arrangements. A corresponding amount for awards expected to be granted of $227.8 million and $210.6 million, as of December 31, 2022 and 2021, respectively, is included in other liabilities on the consolidated statements of financial condition. (2) Includes intangible assets from the acquisition of Griffin Capital's U.S. asset management business. (3) Represents a commitment from an institutional investor as part of a strategic transaction. Depreciation expense was $34.5 million, $18.6 million, and $11.4 million for the years ended December 31, 2022, 2021 and 2020, respectively, and is presented as a component of general, administrative and other expense in the consolidated statements of operations. Intangible assets, net consists of the following: As of December 31, 2022 2021 Intangible assets/management contracts $ 455,072 $ 272,542 Accumulated amortization (275,857) (257,696) Intangible assets, net $ 179,215 $ 14,846 The changes in intangible assets, net consist of the following and includes approximately $1.0 million and $1.8 million of indefinite-lived intangible assets as of December 31, 2022 and 2021, respectively. For the Years Ended December 31, 2022 2021 2020 Balance, beginning of year $ 14,846 $ 23,586 $ 20,615 Amortization expense (18,161) (8,740) (7,431) Acquisitions / additions, net of disposal (1) 182,530 — 10,402 Balance, end of year $ 179,215 $ 14,846 $ 23,586 (1) Includes intangible assets from the acquisition of Griffin Capital's U.S. asset management business for the year ended December 31, 2022. Expected amortization of these intangible assets for each of the next 5 years and thereafter is as follows: 2023 2024 2025 2026 2027 Thereafter Total Amortization of intangible assets $ 22,213 $ 19,688 $ 18,620 $ 18,620 $ 18,611 $ 80,503 $ 178,255 There was no impairment of indefinite lived intangible assets as of December 31, 2022 and 2021.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
LEASES	LEASES Apollo has operating leases for office space, data centers, and certain equipment under various lease agreements. The table below presents operating lease expenses recorded in general, administrative and other in the consolidated statements of operations. For the Years Ended December 31, 2022 2021 2020 Operating lease cost $ 71,445 $ 48,661 46,483 The following table presents supplemental cash flow information related to operating leases: For the Years Ended December 31, 2022 2021 2020 Operating cash flows for operating leases $ 51,886 $ 31,802 27,452 As of December 31, 2022, the Company’s total lease payments by maturity are presented in the following table: Operating Lease Payments 2023 $ 68,979 2024 68,056 2025 66,464 2026 62,885 2027 65,296 Thereafter 454,279 Total lease payments $ 785,959 Less imputed interest (121,593) Present value of lease payments $ 664,366 The Company has undiscounted future operating lease payments of $127.4 million related to leases that have not commenced that were entered into as of December 31, 2022. Such lease payments are not yet included in the table above or the Company’s consolidated statements of financial condition as lease assets and lease liabilities. These operating leases are anticipated to commence in 2023 or later with lease terms of approximately 12 to 14 years. Supplemental information related to leases is as follows: As of As of Weighted average remaining lease term (in years) 12.3 12.3 Weighted average discount rate 2.8 % 2.7 %

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s income tax provision totaled $209.9 million, $594.4 million and $87.0 million for the years ended December 31, 2022, 2021 and 2020, respectively. The Company’s effective tax rate was 9.5%, 12.2% and 15.7% for the years ended December 31, 2022, 2021 and 2020, respectively. The provision for income taxes is presented in the following table: For the Years Ended December 31, 2022 2021 2020 Current: Federal income tax $ 26,040 $ 83,201 $ 21,039 Foreign income tax (1) 29,513 32,530 24,926 State and local income tax 46,776 3,562 5,389 Subtotal 102,329 119,293 51,354 Deferred: Federal income tax 128,717 422,561 9,109 Foreign income tax (1) (1,168) (946) 42 State and local income tax (19,958) 53,471 26,461 Subtotal 107,591 475,086 35,612 Total Income Tax Provision $ 209,920 $ 594,379 $ 86,966 (1) The foreign income tax provision was derived from $183.3 million, $211.7 million and $115.9 million of pre-tax income generated in foreign jurisdictions for the years ended December 31, 2022, 2021 and 2020, respectively. On August 16, 2022, the U.S. government enacted the Inflation Reduction Act of 2022 (the “IRA”). The IRA contains a number of tax-related provisions including a 15% minimum corporate income tax on certain large corporations as well as an excise tax on stock repurchases. It is unclear how the IRA will be implemented by the U.S. Department of the Treasury through regulation. The Company is evaluating the impact of the IRA on its tax liability, which tax liability could also be affected by how the provisions of the IRA are implemented through such regulation. The Company will continue to evaluate the IRA’s impact as further information becomes available. The primary jurisdictions in which the Company operates and incurs income taxes are the United States and the United Kingdom. There are no unremitted earnings with respect to the United Kingdom and other foreign entities. The following table reconciles the U.S. Federal statutory tax rate to the effective income tax rate: For the Years Ended December 31, 2022 2021 2020 U.S. Federal Statutory Tax Rate 21.0 % 21.0 % 21.0 % Income Passed Through to Non-controlling interests (10.3) (10.4) (12.2) State and Local Income Taxes (net of Federal Benefit) 1.0 0.8 3.8 Impact of Merger (2.7) — — Impact of Corporate Conversion — — 0.9 Impact of Foreign Taxes (net of Foreign Tax Credit) 0.6 0.3 2.3 Impact of Equity-Based Compensation (0.1) 0.5 (1.2) Other — — 1.1 Effective Income Tax Rate 9.5 % 12.2 % 15.7 % Deferred income taxes are recorded due to temporary differences between the tax basis of an asset or liability and its reported amount in the consolidated statements of financial condition. These temporary differences result in taxable or deductible amounts in future years. As of December 31, 2022, the Company had no U.S. federal net operating loss (“NOL”) carryforwards and $7.4 million of state and local net operating loss carryforwards that will begin to expire after 2035. The Company had no foreign tax credit carryforwards as of December 31, 2022. The Company considered its historic and current year earnings, business forecasts, enacted tax law, and other sources of income in evaluating whether a valuation allowance should be established on deferred tax assets. The Company concluded that it is more likely than not that its deferred tax assets will be realized, and no valuation allowance was needed as of December 31, 2022. The Company’s deferred tax assets and liabilities in the consolidated statements of financial condition consist of the following: As of December 31, 2022 2021 Deferred Tax Assets: Depreciation and amortization $ 450,747 $ 507,594 Net operating loss carryforwards 150 1,414 Deferred Revenue 4,863 5,981 Equity-based compensation 76,762 62,618 Basis difference in investments 65,473 — Other 39,415 39,805 Total Deferred Tax Assets 637,410 617,412 Deferred Tax Liabilities: Unrealized gains from investments — 192,538 Other 3,750 742 Total Deferred Tax Liabilities 3,750 193,280 Total Deferred Tax Assets, Net $ 633,660 $ 424,132 As of December 31, 2022, the Company has unrecognized tax benefits of $17.3 million, which, if recognized, would impact the effective tax rate. 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 recognizes interest and penalties related to unrecognized tax benefits in our provision for income taxes. During 2022, and as of December 31, 2022, the Company accrued interest of $4.9 million. In the normal course of business, the Company is subject to examination by U.S. federal, state, local and foreign tax authorities. As of December 31, 2022, the Company’s U.S. federal, state, local and foreign income tax returns for the years 2019 through 2021 are open under the general statute of limitations provisions and therefore subject to examination. Currently, the Internal Revenue Service is examining the tax returns of the Company and certain subsidiaries for the 2019 and 2020 tax years. The State and City of New York are examining certain subsidiaries’ tax returns for tax years 2011 to 2020. The United Kingdom tax authorities are currently examining certain subsidiaries’ tax returns for tax year 2017 and 2020. There are other examinations ongoing in other foreign jurisdictions, which the Company operates. No provisions with respect to these examinations have been recorded, other than the unrecognized tax benefits discussed above. Below is a tabular roll forward of the beginning and ending aggregate unrecognized tax benefits: For the Years Ended December 31, 2022 2021 2020 Balance at beginning of period $ — $ — $ — Increases based on tax positions taken in the prior years 14,700 — — Balance at end of period $ 14,700 $ — $ — The Company has historically recorded deferred tax assets resulting from the step-up in the tax basis of assets, including intangibles resulting from exchanges of AOG Units for Class A shares by the Former Managing Partners and Contributing Partners. A related liability has historically been recorded in “Due to Related Parties” in the consolidated statements of financial condition for the expected payments under the tax receivable agreement entered into by and among the Company, the Former Managing Partners, the Contributing Partners, and other parties thereto (as amended, the “tax receivable agreement”) (see note 14). The benefit the Company has historically obtained from the difference in the tax asset recognized and the related liability resulted in an increase to additional paid in capital. The amortization period for the portion of the increase in tax basis related to intangibles is 15 years. The realization of the remaining portion of the increase in tax basis relates to the disposition of the underlying assets to which the step-up is attributed. The associated deferred tax assets reverse at the time of the corresponding asset disposition. After the Mergers, the Former Managing Partners and Contributing Partners no longer own AOG Units. Therefore, there were no new exchanges subject to the tax receivable agreement during the year ended December 31, 2022. The table below presents the impact to the deferred tax asset, tax receivable agreement liability and additional paid in capital related to the exchange of AOG Units for Class A shares for the year ended December 31, 2021. Exchange of AOG Units Increase in Deferred Tax Asset Increase in Tax Receivable Agreement Liability Increase to Additional Paid In Capital For the Year Ended December 31, 2021 $ 346,896 $ 287,917 $ 58,979

DEBT

DEBT	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
DEBT	DEBT Debt consisted of the following: As of December 31, 2022 As of December 31, 2021 Maturity Date Outstanding Fair Value Outstanding Fair Value 4.00% 2024 Senior Notes (1)(2) May 30, 2024 $ 499,122 $ 485,616 (4) $ 498,469 $ 530,052 (4) 4.40% 2026 Senior Notes (1)(2) May 27, 2026 498,243 475,629 (4) 497,730 553,055 (4) 4.87% 2029 Senior Notes (1)(2) February 15, 2029 674,816 638,649 (4) 674,786 777,703 (4) 2.65% 2030 Senior Notes (1)(2) June 5, 2030 495,524 406,787 (4) 494,928 506,094 (4) 4.77% 2039 Senior Secured Guaranteed Notes (1)(2) — — (5) 317,985 369,041 (3) 5.00% 2048 Senior Notes (1)(2) March 15, 2048 296,959 261,675 (4) 296,757 397,191 (4) 4.95% 2050 Subordinated Notes (1)(2) January 14, 2050 296,714 252,483 (4) 296,675 308,687 (4) 1.70% Secured Borrowing II (1) April 15, 2032 18,159 17,614 (4) 19,334 19,239 (6) 1.30% 2016 AMI Term Facility I (1) January 15, 2025 18,052 18,028 (3) 19,186 19,186 (6) 1.40% 2016 AMI Term Facility II (1) July 23, 2023 16,528 16,510 (3) 18,546 18,546 (6) Total Debt $ 2,814,117 $ 2,572,991 $ 3,134,396 $ 3,498,794 (1) Interest rate is calculated as weighted average annualized. (2) Includes amortization of note discount, as applicable, totaling $15.8 million and $25.1 million as of December 31, 2022 and December 31, 2021, respectively. Outstanding balance is presented net of unamortized debt issuance costs. (3) Fair value is based on a discounted cash flow method. These notes are classified as a Level III liability within the fair value hierarchy. (4) Fair value is based on obtained broker quotes. These notes are classified as a Level II liability within 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 external pricing services. (5) There is no outstanding balance as of December 31, 2022. These notes were transferred to a VIE consolidated by Athene during the three months ended March 31, 2022. (6) Fair value is based on obtained broker quotes. These notes are classified as a Level III liability within 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 external pricing services. For instances where broker quotes are not available, a discounted cash flow method is used to obtain a fair value. As of December 31, 2022, the indentures governing the 2024 Senior Notes, the 2026 Senior Notes, the 2029 Senior Notes, the 2030 Senior Notes, the 2048 Senior Notes and the 2050 Subordinated Notes (the “Indentures”) include covenants that restrict the ability of AMH and, as applicable, the guarantors of the notes under the Indentures 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 Indentures also provide for customary events of default. Apollo’s debt obligations contain various customary loan covenants. As of December 31, 2022, 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. Credit Facilities The following table represents the Company’s credit facilities as of December 31, 2022: Instrument/Facility Borrowing Date Maturity Date Administrative Agent Key terms 2022 AMH credit facility N/A October 12, 2027 Citibank, N.A. The commitment fee on the $1.0 billion undrawn 2022 AMH credit facility as of December 31, 2022 was 0.08%. On October 12, 2022, AMH, as borrower, entered into a new $1.0 billion revolving credit facility with Citibank, N.A., as administrative agent, which matures on October 12, 2027 (“2022 AMH credit facility”). Borrowings under the 2022 AMH credit facility may be used for working capital and general corporate purposes, including, without limitation, permitted acquisitions. As of December 31, 2022, AMH, the borrower under the facility, could incur incremental facilities in an aggregate amount not to exceed $250 million plus additional amounts so long as AMH was in compliance with a net leverage ratio not to exceed 4.00 to 1.00. As of December 31, 2022, there were no amounts outstanding under the 2022 AMH credit facility and the Company was in compliance with all financial covenants under the facility. The following table presents the interest expense incurred related to the Company’s debt: For the Years Ended December 31, 2022 2021 2020 Total Interest Expense (1) $ 130,509 $ 139,090 133,239 (1) Debt issuance costs incurred are amortized into interest expense over the term of the debt arrangement, as applicable. The table below presents the contractual maturities for the Company's debt arrangements as of December 31, 2022: 2023 2024-2025 2026-2027 2028 and Thereafter Total 2024 Senior Notes $ — $ 500,000 $ — $ — $ 500,000 2026 Senior Notes — — 500,000 — 500,000 2029 Senior Notes — — — 675,000 675,000 2030 Senior Notes — — — 500,000 500,000 2048 Senior Notes — — — 300,000 300,000 2050 Subordinated Notes — — — 300,000 300,000 Secured Borrowing II — — — 18,159 18,159 2016 AMI Term Facility I — 18,052 — — 18,052 2016 AMI Term Facility II 16,528 — — — 16,528 Total Obligations as of December 31, 2022 $ 16,528 $ 518,052 $ 500,000 $ 1,793,159 $ 2,827,739

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
EQUITY-BASED COMPENSATION	EQUITY-BASED COMPENSATIONUnder AGM’s Equity Plan, AGM is permitted to grant equity awards representing ownership interests in AGM common stock to employees of AAM. Equity-based awards granted to employees and non-employees as compensation are measured based on the grant date fair value of the award, which considers the public share price of AGM’s common stock subject to certain discounts, as applicable. AGM grants both service and performance-based awards. The estimated total grant date fair value for service-based awards is charged to compensation expense on a straight-line basis over the vesting period, which is generally one t and AGM’s achievement of specified performance goals. In accordance with U.S. GAAP, equity-based compensation expense for performance grants are typically recognized on an accelerated recognition method over the requisite service period to the extent the performance revenue metrics are met or deemed probable. Equity-based awards that do not require future service (i.e., vested awards) are expensed immediately. For the years ended December 31, 2022, 2021 and 2020, AAM recorded equity-based compensation expense of $484.1 million, $1.2 billion and $213.1 million, respectively. As of December 31, 2022, there was $683.8 million of estimated unrecognized compensation expense related to unvested RSU awards. This cost is expected to be recognized over a weighted-average period of 2.9 years. The following table summarizes the weighted average discounts for Plan Grants, Bonus Grants and Performance Grants. Years ended December 31, 2022 2021 2020 Plan Grants: Discount for the lack of distributions until vested (1) 0.2 % — % 0.1 % Marketability discount for transfer restrictions (2) 10.0 % 12.7 % 9.4 % Bonus Grants: Marketability discount for transfer restrictions (2) 3.5 % 3.5 % 3.0 % Performance Grants: Discount for the lack of distributions until vested (1) 1.3 % 7.3 % 8.7 % Marketability discount for transfer restrictions (2) 7.6 % 5.6 % 9.2 % (1) Based on the present value of a growing annuity calculation. (2) Based on the Finnerty Model calculation. Service-Based Awards Durin g the years ended December 31, 2022, 2021 and 2020, AGM awarded service-based RSUs of 3.7 million, 2.5 million and 2.4 million, respectively, with a grant date fair value of $229.9 million, $130.4 million and $105.9 million, respectively. During the years ended December 31, 2022, 2021 and 2020, the Company recorded equity-based compensation expense on service-based RSUs of $207.1 million, $92.6 million and $75.7 million, respectively. Performance-Based Awards During the years ended December 31, 2022, 2021 and 2020, AGM awarded performance-based RSUs of 3.9 million, 2.9 million, and 2.2 million, respectively, with a grant date fair value of $228.2 million, $150.2 million and $86.6 million, respectively, which primarily vest subject to continued employment and the Company’s receipt of performance revenues, within prescribed periods, sufficient to cover the associated equity-based compensation. During the years ended December 31, 2022, 2021 and 2020, the Company recorded equity-based compensation expense on performance-based awards of $205.1 million, $103.7 million and $97.4 million, respectively. During the year-ended December 31, 2022, the Company issued awards where the number of shares to be granted is variable based on the achievement of specified performance targets. Compensation expense is recognized over the performance period based upon the probable outcome of the performance condition and the performance-based compensation is classified as a liability, and therefore, the fair value is remeasured each reporting period. Given the number of shares to be issued in settlement of these awards is not yet known, the tables below exclude the impact of these awards. In December 2021, the Company awarded one-time grants t o the Company’s Co-P residents of 6 million RSUs which vest on a cliff basis subject to continued employment over five years, with 2 million of those RSUs also subject to AGM’s achievement of certain fee related earnings and spread related earnings per share metrics. During the year ended December 31, 2022, the Company recorded equity-based compensation expense of $55.6 million for service-based awards and $23.5 million for performance-based awards, each related to these one-time grants. The following table summarizes all RSU activity for the current period: Unvested Weighted Average Grant Date Fair Value Vested Total Number of RSUs Outstanding Balance at January 1, 2022 — $ — — — RSUs assumed in the Mergers 15,428,416 51.86 15,976,551 31,404,967 Granted 7,678,302 59.66 — 7,678,302 Forfeited (446,499) 54.49 (429) (446,928) Vested (5,642,440) 47.17 5,642,440 — Issued — — (6,924,079) (6,924,079) Balance at December 31, 2022 17,017,779 $ 56.91 14,694,483 31,712,262 Restricted Stock Awards During the years ended December 31, 2022, 2021 and 2020, AGM awarded 0.5 million, 1.2 million and 0.6 million restricted stock awards, respectively, from profit sharing arrangements with a grant date fair value of $36.0 million, $152.1 million and $30.7 million, respectively. Additionally, 0.5 million transfer-restricted shares were granted as fully vested restricted stock awards during 2022 in an exchange for unvested performance fee rights that related to the Co-Presidents’ o ne-time RSUs that were awarded in 2021. During the years ended December 31, 2022, 2021 and 2020, the Company recorded equity-based compensation expense related to restricted stock awards from profit sharing arrangements of $56.0 million, $30.2 million and $25.8 million, respectively. As of December 31, 2022 there was $51.8 million of total unrecognized equity-based compensation expense related to unvested restricted share awards, which is expected to be recognized over a weighted-average term of 1.2 years. The following table summarizes the restricted share award act ivity: Unvested Weighted Average Grant Date Fair Value Vested Total Number of RS Outstanding Balance at January 1, 2022 1,470,001 $ 63.73 1,037,738 2,507,739 Granted 546,766 62.83 474,922 1,021,688 Forfeited (12,883) 66.97 — (12,883) Vested (845,174) 60.04 845,174 — Issued (1) — 65.62 (1,882,912) (1,882,912) Balance at December 31, 2022 1,158,710 $ 65.96 474,922 1,633,632 (1) Refers to issued shares that became freely transferable in 2022.

EQUITY

EQUITY	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
EQUITY	EQUITY Preferred Stock The Company has 11,000,000 Series A Preferred shares and 12,000,000 Series B Preferred shares issued and outstanding as of December 31, 2022. Dividends on the Preferred shares are discretionary and non-cumulative. During 2022, quarterly cash dividends were $0.398438 per Series A Preferred share and Series B Preferred share. Subject to certain exceptions, unless dividends have been declared and paid or declared and set apart for payment on the Preferred shares for a quarterly dividend period, during the remainder of that dividend period Apollo may not declare or pay or set apart payment for dividends on any shares of common stock or any other equity securities that the Company may issue in the future ranking, as to the payment of dividends, junior to the Preferred shares (“Junior Stock”) and Apollo may not repurchase any Junior Stock. The Series A Preferred shares and the Series B Preferred shares may be redeemed at Apollo’s option, in whole or in part, at any time on or after March 15, 2022 and March 15, 2023, respectively, at a price of $25.00 per share, plus declared and unpaid dividends to, but excluding, the redemption date, without payment of any undeclared dividends. Holders of the Preferred shares have no right to require the redemption of the Preferred shares and there is no maturity date. If a certain change of control event or a certain tax redemption event occurs prior to March 15, 2023 for the Series B Preferred shares, the Series B Preferred shares may be redeemed at Apollo’s option, in whole but not in part, upon at least 30 days’ notice, within 60 days of the occurrence of such change of control event or such tax redemption event, as applicable, at a price of $25.25 per share, plus declared and unpaid dividends to, but excluding, the redemption date, without payment of any undeclared dividends. If a certain rating agency event occurs prior to March 15, 2023, the Series B Preferred shares may be redeemed at Apollo’s option, in whole but not in part, upon at least 30 days’ notice, within 60 days of the occurrence of such rating agency event, at a price of $25.50 per share, plus declared and unpaid dividends to, but excluding, the redemption date, without payment of any undeclared dividends. If (i) a change of control event occurs and (ii) Apollo does not give notice prior to the 31st day following the change of control event to redeem all the outstanding Preferred shares, the dividend rate per annum on the Preferred shares will increase by 5.00%, beginning on the 31st day following such change of control event. The Preferred shares are not convertible into common stock and have no voting rights, except in limited circumstances as provided in the Company’s certificate of incorporation. Dividends On February 9, 2023, the Company declared a cash dividend of $0.398438 per share of Series A Preferred shares and Series B Preferred shares, which will be paid on March 15, 2023 to holders of record at the close of business on March 1, 2023. 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 Years Ended December 31, 2022 2021 2020 Net income attributable to non-controlling interests in consolidated entities: Interest in management companies and a co-investment vehicle (1) $ 6,801 $ 6,138 $ 3,386 Other consolidated entities 335,720 411,554 114,992 Net income attributable to non-controlling interests in consolidated entities $ 342,521 $ 417,692 $ 118,378 Net income attributable to non-controlling interests in the Apollo Operating Group: Net income $ 1,994,320 $ 4,267,895 $ 466,802 Net income attributable to non-controlling interests in consolidated entities (342,521) (417,692) (118,378) Net income after non-controlling interests in consolidated entities 1,651,799 3,850,203 348,424 Adjustments: Income tax provision (2) 209,920 594,379 86,966 NYC UBT and foreign tax benefit (3) (35,579) (32,516) (26,549) Net income in non-Apollo Operating Group entities 45,731 (5,385) (13,571) Series A Preferred share dividends (17,531) (17,531) (17,531) Series B Preferred share dividends (19,125) (19,125) (19,125) Total adjustments 183,416 519,822 10,190 Net income after adjustments 1,835,215 4,370,025 358,614 Weighted average ownership percentage of Apollo Operating Group 42.6 % 45.1 % 47.1 % Net income attributable to non-controlling interests in Apollo Operating Group $ 717,932 $ 2,011,712 $ 191,810 Net income attributable to non-controlling interests $ 1,060,453 $ 2,429,404 $ 310,188 Other comprehensive loss attributable to non-controlling interests (24,196) (28,730) 38,113 Comprehensive income attributable to non-controlling interests $ 1,036,257 $ 2,400,674 $ 348,301 (1) Reflects the remaining interest held by certain individuals who receive an allocation of income from certain of the yield funds managed by Apollo. (2) Reflects all taxes recorded in our consolidated statements of operations. Of this amount, U.S. federal, state, and local corporate income taxes attributable to the Company are added back to income of the Apollo Operating Group before calculating non-controlling interests as the income allocable to the Apollo Operating Group is not subject to such taxes. (3) Reflects NYC UBT and foreign taxes that are attributable to the Apollo Operating Group and its subsidiaries related to its operations in the U.S. as partnerships and in non-U.S. jurisdictions as corporations. As such, these amounts are considered in the income attributable to the Apollo Operating Group. Redeemable Non-Controlling Interests As discussed in note 2, redeemable non-controlling interests primarily represent the shares issued by the Company’s consolidated SPACs. The table below presents the activities associated with the redeemable non-controlling interests. For the Years Ended December 31, 2022 2021 Balance at beginning of period $ 1,770,034 $ 782,702 Redemption of non-controlling interests (776,272) — Deconsolidation of SPAC (39,588) — Net issuances of redeemable non-controlling interests 10,544 950,103 Accretion of redeemable non-controlling interests 67,196 37,229 Balance at end of period $ 1,031,914 $ 1,770,034

RELATED PARTY TRANSACTIONS AND

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES	RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES Management fees, transaction and advisory fees and reimbursable expenses from the funds the Company manages and their portfolio companies are included in due from related parties in the consolidated statements of financial condition. The Company also typically facilitates the payment of certain operating costs incurred by the funds that it manages as well as their related parties. These costs are normally reimbursed by such funds and are included in due from related parties. Other related party transactions include loans to employees, periodic sales of ownership interests in Apollo funds to employees, and receivables from and payables to AGM. Due from related parties and due to related parties are comprised of the following: As of As of Due from Related Parties: Due from funds (1) $ 333,165 $ 315,875 Due from employees and former employees 89,671 106,755 Due from portfolio companies 143,975 66,960 Due from parent 150,555 — Incentive fees receivable 8,887 4,236 Total Due from Related Parties $ 726,253 $ 493,826 Due to Related Parties: Due to Former Managing Partners and Contributing Partners (2) $ 874,406 $ 1,118,272 Due to parent 579,354 — Due to funds 123,734 104,130 Total Due to Related Parties $ 1,577,494 $ 1,222,402 (1) Includes $43.4 million and $47.8 million as of December 31, 2022 and December 31, 2021, respectively, related to a receivable from a fund in connection with the Company’s sale of a platform investment to such fund. The amount is payable to the Company over five years and is held at fair value. (2) Includes $350.5 million and $569.6 million as of December 31, 2022 and December 31, 2021, respectively, related to the purchase of limited partnership interests, payable in equal installments through December 31, 2024. Tax Receivable Agreement Prior to the consummation of the Mergers, each of the Former Managing Partners and Contributing Partners had the right to exchange vested AOG Units for Class A shares, subject to certain restrictions. All Apollo Operating Group entities have made, or will make, an election under Section 754 of the U.S. Internal Revenue Code, which will result in an adjustment to the tax basis of the assets owned by the Apollo Operating Group entities at the time an exchange was made. The election results in an increase to the tax basis of underlying assets which will reduce the amount of gain and associated tax that the Company and its subsidiaries will otherwise be required to pay in the future. The tax receivable agreement (“TRA”) provides for payment to the Former 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 Apollo realizes as a result of the increases in tax basis of assets that resulted from transactions and other exchanges of AOG Units for Class A shares that occurred in prior years. AGM and its subsidiaries retain the benefit from the remaining 15% of actual cash tax savings. If the Company does not make the required annual payment on a timely basis as outlined in the TRA, interest is accrued on the balance until the payment date. Following the closing of the Mergers, the Former Managing Partners and Contributing Partners no longer own AOG Units. Therefore, there were no new exchanges subject to the TRA during the year ended December 31, 2022. As a result of the exchanges of AOG Units for Class A shares during the year ended December 31, 2021, a $287.9 million liability was recorded to estimate the amount of the future payments to be made by the Company and its subsidiaries to the Former Managing Partners and Contributing Partners pursuant to the TRA. In April 2022, Apollo made a $51.0 million cash payment pursuant to the TRA resulting from the realized tax benefit for the 2021 tax year. There was no pro rata distribution made with respect to the April 2022 payment as the Former Managing Partners and Contributing Partners ceased to be partners in the Apollo Operating Group. In April 2021, Apollo made a $39.9 million cash payment pursuant to the TRA resulting from the realized tax benefit for the 2020 tax year. In connection with the April 2021 payment, the Company made a corresponding pro rata distribution of $34.7 million ($0.15 per AOG Unit) to the Non-Controlling Interest holders in the Apollo Operating Group. During the years ended December 31, 2022, 2021 and 2020, the Company remeasured the TRA liability and recorded other income (loss), net of $(26.2) million, $9.6 million, and $12.4 million respectively, in the consolidated statements of operations. The remeasurement of the TRA liability primarily relates to changes in estimated state and local tax rates and certain steps related to the Mergers. AOG Unit Payment On December 31, 2021, holders of AOG Units (other than Athene and the Company) sold and transferred a portion of such AOG Units to APO Corp., a wholly-owned consolidated subsidiary of the Company, in exchange for an amount equal to $3.66 multiplied by the total number of AOG Units held by such holders immediately prior to such transaction (such payment, the “AOG Unit Payment”). The remainder of the AOG Units held by such holders were exchanged for shares of AGM common stock concurrently with the consummation of the Mergers on January 1, 2022. As of December 31, 2022, the outstanding payable amount to Former Managing Partners and Contributing Partners was $350.5 million, which is payable in equal installments through December 31, 2024. Due from Employees and Former Employees As of December 31, 2022 and December 31, 2021, due from employees and former employees includes various amounts due to the Company, including employee loans and return of profit sharing distributions. As of December 31, 2022 and December 31, 2021, the balance included interest-bearing employee loans receivable of $8.8 million and $17.5 million respectively. 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 recorded a receivable from certain employees and former employees for the potential return of profit sharing distributions that would be due if certain funds were liquidated as of December 31, 2022 and December 31, 2021 of $72.1 million and $64.5 million, respectively. Indemnity Performance revenues from certain funds can be distributed to the Company on a current basis, but are subject to repayment by the subsidiaries of the Apollo Operating Group that act as general partners of the funds in the event that certain specified return thresholds are not ultimately achieved. The Former Managing Partners, Contributing Partners and certain other investment professionals have personally guaranteed, subject to certain limitations, the obligations of these subsidiaries in respect of this general partner obligation. Such guarantees are several and not joint and are limited to a particular Former Managing Partners’ or Contributing Partner’s distributions. The Company has agreed to indemnify each of the Company’s Former 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 Former Managing Partners and Contributing Partners contributed or sold to the Apollo Operating Group. The Company recorded an indemnification liability in respect of this indemnification obligation of $13.2 million and $13.2 million as of December 31, 2022 and December 31, 2021, respectively. Due to Funds Based upon an assumed liquidation of certain of the funds the Company manages, the Company has recorded a general partner obligation to return previously distributed performance allocations, which represents amounts due to these funds. The general partner obligation is recognized based upon an assumed liquidation of a 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 governing document of the fund. The Company recorded general partner obligations to return previously distributed performance allocations related to certain funds of $106.5 million and $81.2 million as of December 31, 2022 and December 31, 2021, respectively. Athene Fee Arrangement The Company provides asset management and advisory services to Athene, including asset allocation services, direct asset management services, asset and liability matching management, mergers and acquisitions, asset diligence hedging and other asset management services. On March 31, 2022, Athene and Apollo agreed to revise the existing fee arrangements (the “amended fee agreement”) between Athene and Apollo. The Company began recording fees pursuant to the amended fee agreement on January 1, 2022. The amended fee agreement provides for sub-allocation fees which vary based on portfolio allocation differentiation, as described below. The amended fee agreement provides for a monthly fee to be payable by Athene to the Company in arrears, with retroactive effect to the month beginning on January 1, 2022, in an amount equal to the following, to the extent not otherwise payable to the Company pursuant to any one or more investment management or sub-advisory agreements or arrangements: (i) The Company, through its consolidated subsidiary Apollo Insurance Solutions Group LP, or ISG, earns a base management fee of 0.225% per year on the aggregate book value of substantially all of the assets in substantially all of the accounts of or relating to Athene (collectively, the “Athene Accounts”) up to $103.4 billion (the “Backbook Value”) and 0.150% per year on all assets in excess of $103.4 billion (the “Incremental Value”), respectively; plus (ii) with respect to each asset in an Athene Account, subject to certain exceptions, that is managed by the Company and that belongs to a specified asset class tier (“core,” “core plus,” “yield,” and “high alpha”), a sub-allocation fee as follows: As of Sub-Allocation Fees: Core Assets (1) 0.065 % Core Plus Assets (2) 0.130 % Yield Assets (3) 0.375 % High Alpha Assets (4) 0.700 % Other Assets (5) — % (1) Core assets include public investment grade corporate bonds, municipal securities, agency residential or commercial mortgage backed securities and obligations of any governmental agency or government sponsored entity that is not expressly backed by the U.S. government. (2) Core plus assets include private investment grade corporate bonds, fixed rate first lien commercial mortgage loans and obligations issued or assumed by a financial institution (such an institution, a “financial issuer”) and determined by Apollo to be “Tier 2 Capital” under the Basel III recommendations developed by the Basel Committee on Banking Supervision (or any successor to such recommendations). (3) Yield assets include non-agency residential mortgage-backed securities, investment grade collateralized loan obligations, certain asset-backed securities, commercial mortgage-backed securities, emerging market investments, below investment grade corporate bonds, subordinated debt obligations, hybrid securities or surplus notes issued or assumed by a financial issuer, as rated preferred equity, residential mortgage loans, bank loans, investment grade infrastructure debt and certain floating rate commercial mortgage loans. (4) High alpha assets include subordinated commercial mortgage loans, below investment grade collateralized loan obligations, unrated preferred equity, debt obligations originated by MidCap, below investment grade infrastructure debt, certain loans originated directly by Apollo and agency mortgage derivatives. (5) Other Assets include cash, treasuries, equities and alternatives. With respect to equities and alternatives, Apollo earns performance revenues of 0% to 20%. Merger Agreement On March 8, 2021, the Company entered into the Merger Agreement with AHL, HoldCo, AHL Merger Sub, and AAM Merger Sub. As of December 31, 2021, the Company held a 28.4% ownership interest in AHL’s Class A common shares. On January 1, 2022, Apollo and Athene completed the previously announced Mergers. Following the closing of the Mergers, all of the common stock of AAM and AHL is owned by AGM and both AAM and AHL became consolidated subsidiaries of AGM. Subsequent to the closing of the Mergers, the Company distributed its interest in AHL’s Class A common shares to AGM. Subsequent to the closing of the Mergers, the Company transferred the 2039 Senior Secured Guaranteed Notes to a VIE consolidated by Athene. Similarly, certain of Apollo’s general partner fund co-investments were transferred to Athene, which were subsequently transferred to AAA. Athora The Company, through ISGI, provides investment advisory services to certain portfolio companies of funds managed by Apollo and Athora, a strategic platform that acquires or reinsures blocks of insurance business in the European life insurance market (collectively, the “Athora Accounts”). The Company had equity commitments outstanding of up to $342.6 million as of December 31, 2022, subject to certain conditions. Athora Sub-Advised The Company, through ISGI, provides sub-advisory services with respect to a portion of the assets in certain portfolio companies of Apollo funds and the Athora Accounts. The Company broadly refers to “Athora Sub-Advised” assets as those assets in the Athora Accounts which the Company explicitly sub-advises as well as those assets in the Athora Accounts which are invested directly in funds and investment vehicles Apollo manages. The Company earns a base management fee on the aggregate market value of substantially all of the investment accounts of or relating to Athora and also a sub-advisory fee on the Athora Sub-Advised assets, which varies depending on the specific asset class. On December 15, 2021, the Company executed an amended and restated fee agreement with Athora. The new fee agreement revised the base fee paid to the Company for managing certain assets on behalf of Athora and removed Athora’s previous reimbursement of certain costs incurred by Apollo. These changes had retroactive effect to January 1, 2021. The following table presents the revenues earned in aggregate from Athene and Athora: For the Years Ended December 31, 2022 2021 2020 Revenues earned in aggregate from Athene, Athora and AAA investments, net (1) $ 1,314,949 $ 1,117,571 $ 794,976 (1) Consisting of management fees, sub-advisory fees, and performance revenues from Athene and Athora, as applicable. Regulated Entities and Affiliated Service Providers 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 December 31, 2022. From time to time, AGS, as well as other Apollo affiliates provide services to related parties of Apollo, including Apollo funds and their portfolio companies, whereby the Company or its affiliates earn fees for providing such services. Griffin Capital Securities, LLC (“GCS”) 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. GCS was in compliance with these requirements as of December 31, 2022. Due to/from parent The Company has receivables from its parent company AGM related to funding operations and expense allocations. The balance outstanding was $150.6 million as of December 31, 2022. Following the merger with Athene, the Company has a revolving loan agreement with AGM, its parent company, to manage cash balances and to fund liquidity for general corporate use. The balance outstanding on this loan to AGM was $579.4 million as of December 31, 2022. Investment in SPACs In October 2020, APSG I, a SPAC, completed an initial public offering, ultimately raising total gross proceeds of $816.8 million. APSG Sponsor, L.P., a subsidiary of Apollo, held Class B ordinary shares of APSG I, and consolidated it as a VIE. In May 2022, APSG I completed a business combination with American Express Global Business Travel. As a result of the business combination, Apollo no longer consolidates APSG I as a VIE. The deconsolidation resulted in an unrealized gain of $162.0 million, which includes $81.5 million of unrealized gains related to previously held Class B ordinary shares, which converted to Class A shares of the newly merged entity (“GBTG”), presented in Net gains from investment activities within Other income in the consolidated statements of operations. Apollo continues to hold a non-controlling interest in GBTG at fair value, elected under the fair value option, which is primarily presented within Investments in the consolidated statements of financial condition. On February 12, 2021, APSG II, a SPAC sponsored by Apollo, completed an initial public offering, raising total gross proceeds of $690.0 million. APSG Sponsor II, L.P., a subsidiary of Apollo, holds Class B ordinary shares of APSG II, and consolidates APSG II as a VIE. In December 2022, APSG II entered into a non-binding letter of intent regarding a potential initial business combination and now has until May 12, 2023 to complete its initial business combination. On July 13, 2021, Acropolis, a SPAC sponsored by Apollo, completed an initial public offering, ultimately raising total gross proceeds of $345.0 million. Acropolis Infrastructure Acquisition Sponsor, L.P., a subsidiary of Apollo, holds Class B common stock of Acropolis, and consolidates Acropolis as a VIE. As described in note 2, the Company consolidates entities that are VIEs for which the Company has been designated as the primary beneficiary. Through its interests in the respective sponsors, the Company has the power to direct the activities that most significantly impact the economic performance of these SPACs. In addition, the Company’s combined interests in these VIEs are significant. Assets and liabilities of the consolidated SPACs are shown within the respective line items of the consolidated financial statements, as outlined below. The tables below present the financial information of these SPACs in aggregate: As of As of Assets: Cash and cash equivalents $ 439 $ 1,796 Restricted cash and cash equivalents 1,045,976 690,205 U.S. Treasury securities, at fair value — 1,162,299 Other assets 1,651 2,627 Total Assets $ 1,048,066 $ 1,856,927 Liabilities, Redeemable non-controlling interests and Stockholders’ Equity Liabilities: Accounts payable and accrued expenses $ 3,446 $ 2,361 Due to related parties 8,300 20,146 Other liabilities 42,507 143,778 Total Liabilities 54,253 166,285 Redeemable non-controlling interests: Redeemable non-controlling interests 1,016,886 1,762,282 Stockholders’ Equity: Additional paid in capital (72,117) (98,369) Retained earnings 49,044 26,729 Total Stockholders’ Equity (23,073) (71,640) Total Liabilities, Redeemable non-controlling interests and Stockholders’ Equity $ 1,048,066 $ 1,856,927 For the Years Ended December 31, 2022 2021 2020 Expenses: Interest expense $ 33 $ 8 $ — General, administrative and other 7,445 19,015 583 Total Expenses 7,478 19,023 583 Other Income: Net gains from investment activities 19,617 3,446 35 Interest income 12,966 545 140 Other income (loss), net (400) (520) — Total Other Income 32,183 3,471 175 Income (loss) before income tax provision 24,705 (15,552) (408) Income tax provision (993) — — Net Income (Loss) Attributable to Apollo Asset Management, Inc. 23,712 (15,552) (408)

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Investment Commitments As a limited partner, general partner and manager of the Apollo funds, Apollo had unfunded capital commitments as of December 31, 2022 of $0.6 billion. Litigation and Regulatory Matters 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. On August 3, 2017, a complaint was filed in the United States District Court for the Middle District of Florida against AAM, a senior partner of Apollo and a former principal of Apollo by Michael McEvoy on behalf of a purported class of employees of subsidiaries of CEVA Group, LLC (“CEVA Group”) who purchased shares in CEVA Investment Limited (“CIL”), the former parent company of CEVA Group. The complaint alleged that the defendants breached fiduciary duties to and defrauded the plaintiffs by inducing them to purchase shares in CIL and subsequently participating in a debt restructuring of CEVA Group in which shareholders of CIL did not receive a recovery. The complaint was determined by a bankruptcy court to be void ab initio because it asserted claims that were property of CIL’s bankruptcy estate. McEvoy subsequently revised his complaint to attempt to assert claims that do not belong to CIL. The amended complaint no longer named any individual defendants, but Apollo Management VI, L.P. and CEVA Group were added as defendants. The amended complaint sought damages of approximately €30 million and asserts, among other things, claims for violations of the Investment Advisers Act, breach of fiduciary duties, and breach of contract. On December 7, 2018, McEvoy filed his amended complaint in the District Court for the Middle District of Florida. On January 6, 2020, the Florida court granted in part Apollo’s motion to dismiss, dismissing McEvoy’s Investment Advisers Act claim with prejudice, and denying without prejudice Apollo’s motion with respect to the remaining claims, and directing the parties to conduct limited discovery, and submit new briefing, solely with respect to the statute of limitations. On July 30, 2020, Apollo and CEVA filed a joint motion for summary judgment on statute of limitations grounds. On June 29, 2021, the district court issued a decision denying the defendants’ joint motion for summary judgment on statute of limitations grounds, and set deadlines on July 23, 2021 for the plaintiff to file an amended complaint and August 20, 2021 for defendants to answer or move to dismiss the amended complaint. Plaintiff filed his second amended complaint on July 23, 2021 which added alleged grounds for tolling the statute of limitations. Also on July 23, 2021, the defendants filed a joint motion for reconsideration with respect to aspects of the district court’s June 29, 2021 decision. On March 10, 2022, the court granted defendants’ motion for reconsideration and thereafter entered judgment in defendants’ favor. On April 7, 2022, Plaintiff filed a motion to alter or amend the court’s order of March 10. The defendants, including Apollo, opposed that motion on April 28, 2022. The court denied Plaintiff’s motion on May 26, 2022. Plaintiff has appealed the court’s decisions to the Eleventh Circuit; the appeal is fully briefed and pending as of this date. Apollo believes that Plaintiff’s appeal is without merit. No reasonable estimate of possible loss, if any, can be made at this time. On December 21, 2017, several entities referred to collectively as “Harbinger” commenced an action in New York Supreme Court captioned Harbinger Capital Partners II LP et al. v. Apollo Global Management LLC, et al. (No. 657515/2017). The complaint named as defendants AAM, and funds managed by Apollo that invested in SkyTerra Communications, Inc. (“SkyTerra”), among others. The complaint alleged that during the period of Harbinger’s various equity and debt investments in SkyTerra from 2004 to 2010, the defendants concealed from Harbinger material defects in SkyTerra technology. The complaint further alleged that Harbinger would not have made investments in SkyTerra totaling approximately $1.9 billion had it known of the defects, and that the public disclosure of these defects ultimately led to SkyTerra filing for bankruptcy in 2012 (after it had been renamed LightSquared). The complaint sought $1.9 billion in damages, as well as punitive damages, interest, costs, and fees. On June 12, 2019, Harbinger voluntarily discontinued the state action without prejudice. On June 8, 2020, Harbinger refiled its litigation in New York Supreme Court, captioned Harbinger Capital Partners II, LP et al. v. Apollo Global Management, LLC et al. (No. 652342/2020). The complaint adds eight new defendants and three new claims relating to Harbinger’s contention that the new defendants induced Harbinger to buy CCTV One Four Holdings, LLC (“CCTV”) to support SkyTerra’s network even though they allegedly knew that the network had material defects. On November 23, 2020, Defendants refiled a bankruptcy motion, and on November 24, 2020, filed in the state court a motion to stay the state court proceedings pending a ruling by the bankruptcy court on the bankruptcy motion. On February 1, 2021, the bankruptcy court denied the bankruptcy motion. On March 31, 2021, Defendants filed their motions to dismiss the New York Supreme Court action. Hearings were held on the motions to dismiss on February 15, 2022 and February 18, 2022, and the motions remain pending. Apollo believes the claims in this action are without merit. Because this action is in the early stages, no reasonable estimate of possible loss, if any, can be made at this time. On November 1, 2019, plaintiff Benjamin Fongers filed a putative class action in Illinois Circuit Court, Cook County, against CareerBuilder, LLC (“CareerBuilder”) and AAM. Plaintiff alleges that in March 2019, CareerBuilder changed its compensation plan so that sales representatives such as Fongers would (i) receive reduced commissions; and (ii) only be able to receive commissions for accounts they originated that were not reassigned to anyone else, a departure from the earlier plan. Plaintiff also claims that the plan applied retroactively to deprive sales representatives of commissions to which they were earlier entitled. Plaintiff alleges that AAM exercises complete control over CareerBuilder and thus, CareerBuilder acts as AAM’s agent. Based on these allegations, Plaintiff alleges claims against both defendants for breach of written contract, breach of implied contract, unjust enrichment, violation of the Illinois Sales Representative Act, and violation of the Illinois Wage and Payment Collection Act. The defendants removed the action to the Northern District of Illinois on December 5, 2019, and Plaintiff moved to remand on January 6, 2020. On October 21, 2020, the district court granted the motion to remand. On January 11, 2021, the district court ordered the clerk of court to take the necessary steps to transfer the case back to Illinois Circuit Court, Cook County. On March 8, 2021, Plaintiff filed a motion under 28 U.S.C. § 1447(c) to recover attorneys’ fees of approximately $35,000 for the remand briefing. Defendants filed their opposition on March 31, 2021, and Plaintiff replied on April 14, 2021. Defendants filed motions to dismiss the complaint in the Illinois Circuit Court, Cook County on June 11, which were fully briefed on August 13, 2021. CareerBuilder has also filed a Motion for a Protective Order and to Stay Discovery pending the outcome of the motions to dismiss. On February 7, 2022, the court held a hearing on the motions to dismiss and the request to stay discovery. At the hearing, the court took the motions to dismiss under advisement and granted CareerBuilder’s motion to stay discovery. On March 11, 2022, the parties filed a Notice of Settlement notifying the court that the parties have reached an agreement to resolve the case in full, and the court approved the settlement on November 14, 2022. The settlement required no payment from any Apollo-affiliated defendants. In March 2020, Frank Funds, which claims to be a former shareholder of MPM Holdings, Inc. (“MPM”), commenced an action in the Delaware Court of Chancery, captioned Frank Funds v. Apollo Global Management, Inc., et al. , C.A. No. 2020-0130, against AAM, certain former MPM directors (including three Apollo officers and employees), and members of the consortium that acquired MPM in a May 2019 merger. The complaint asserts, on behalf of a putative class of former MPM shareholders, a claim against Apollo for breach of its fiduciary duties as MPM’s alleged controlling shareholder in connection with the May 2019 merger. Frank Funds seeks unspecified compensatory damages. On July 23, 2019, a group of former MPM shareholders filed an appraisal petition in Delaware Chancery Court seeking the fair value of their MPM shares that were purchased through MPM’s May 15, 2019 merger, in an action captioned In re Appraisal of MPM Holdings, Inc. , C.A. No. 2019-0519 (Del. Ch.). On June 3, 2020, petitioners moved for leave to file a verified amended appraisal petition and class-action complaint that included claims for breach of fiduciary duty and/or aiding and abetting breaches of fiduciary duty against AAM, the Apollo-affiliated fund that owned MPM’s shares before the merger, certain former MPM directors (including three Apollo employees), and members of the consortium that acquired MPM, based on alleged actions related to the May 2019 merger. The petitioners also sought to consolidate their appraisal proceeding with the Frank Funds action. On November 13, 2020, the Chancery Court granted the parties’ stipulated order to consolidate the two matters, and on December 21, 2020, the Chancery Court granted petitioners’ motion for leave to file the proposed amended complaint. This new consolidated action is captioned In Re MPM Holdings Inc. Appraisal and Stockholder Litigation , C.A. No. 2019-0519 (Del Ch.). On January 13, 2022, the Chancery Court denied Apollo’s motion to dismiss. Apollo believes the claims in this action are without merit. Because this action is in the early stages, no reasonable estimate of possible loss, if any, can be made at this time. On August 4, 2020, a putative class action complaint was filed in the United States District Court for the District of Nevada against PlayAGS Inc. (“PlayAGS”), all of the members of PlayAGS’s board of directors (including three directors who are affiliated with Apollo), certain underwriters of PlayAGS (including Apollo Global Securities, LLC), as well as AAM, Apollo Investment Fund VIII, L.P., Apollo Gaming Holdings, L.P., and Apollo Gaming Voteco, LLC (these last four parties, together, the “Apollo Defendants”). The complaint asserts claims against all defendants arising under the Securities Act of 1933 in connection with certain secondary offerings of PlayAGS stock conducted in August 2018 and March 2019, alleging that the registration statements issued in connection with those offerings did not fully disclose certain business challenges facing PlayAGS. The complaint further asserts a control person claim under Section 20(a) of the Exchange Act against the Apollo Defendants and the director defendants (including the directors affiliated with Apollo), alleging such defendants were responsible for certain misstatements and omissions by PlayAGS about its business. On December 2, 2022, the Court dismissed all claims against the underwriters (including Apollo Global Securities, LLC) and the Apollo Defendants, but allowed a claim against PlayAGS and two of the Company's executives to proceed. No reasonable estimate of possible loss, if any, can be made at this time. Certain of Apollo’s investment adviser subsidiaries have received a request for information and documents from the SEC in connection with an investigation concerning compliance with record retention requirements relating to business communications sent or received via electronic messaging channels. As has been publicly reported, the SEC is conducting similar investigations of other investment advisers. Commitments and Contingencies Other long-term obligations relate to payments with respect to certain consulting agreements entered into by Apollo Investment Consulting LLC, a subsidiary of Apollo, as well as long-term service contracts. A significant portion of these costs are reimbursable by funds or portfolio companies. As of December 31, 2022, fixed and determinable payments due in connection with these obligations were as follows: 2023 2024 - 2025 2026 - 2027 2028 and Thereafter Total Other long-term obligations $ 13,979 $ 675 $ — $ — $ 14,654 Contingent Obligations Performance allocations with respect to certain funds are subject to reversal in the event of future losses to the extent of the cumulative revenues recognized in income to date. If all of the existing investments became worthless, the amount of cumulative revenues that have been recognized by Apollo through December 31, 2022 and that would be reversed approximates $4.6 billion. Management views the possibility of all of the investments becoming worthless as remote. Performance allocations are affected by changes in the fair values of the underlying investments in the funds that Apollo manages. Valuations, on an unrealized basis, can be significantly affected by a variety of external factors, including, but not limited to, bond yields and industry trading multiples. Movements in these items can affect valuations quarter to quarter even if the underlying business fundamentals remain stable. Additionally, at the end of the life of certain funds that the Company manages, there could be a payment due to a fund by the Company if the Company, as general partner, has received more performance allocations than was ultimately earned. The general partner obligation amount, if any, will depend on final realized values of investments at the end of the life of each fund or as otherwise set forth in the respective limited partnership agreement of the fund. See note 14 to our consolidated financial statements for further details regarding the general partner obligation. Certain funds may not generate performance allocations as a result of unrealized and realized losses that are recognized in the current and prior reporting period. In certain cases, performance allocations will not be generated until additional unrealized and realized gains occur. Any appreciation would first cover the deductions for invested capital, unreturned organizational expenses, operating expenses, management fees and priority returns based on the terms of the respective fund agreements. One of the Company’s subsidiaries, AGS, provides underwriting commitments in connection with securities offerings of related parties of Apollo, including portfolio companies of the funds Apollo manages, as well as third parties. As of December 31, 2022 and December 31, 2021, there were no open underwriting commitments. The Company and Athene, together with a third-party institutional investor, have committed to provide financing to a consolidated VIE that invests across Apollo’s capital markets platform (such VIE, the “Apollo Capital Markets Partnership”). Pursuant to these arrangements, the Company and Athene have committed equity financing to the Apollo Capital Markets Partnership. The Apollo Capital Markets Partnership also has a revolving credit facility with Sumitomo Mitsui Banking Corporation, as lead arranger, administrative agent and letter of credit issuer, Mizuho Bank Ltd., and other lenders party thereto, pursuant to which it may borrow up to $2.25 billion. The revolving credit facility, which has a final maturity date of April 1, 2025, is non-recourse to the Company and Athene, except that the Company and Athene provided customary comfort letters with respect to their capital contributions to the Apollo Capital Markets Partnership. As of December 31, 2022, the Apollo Capital Markets Partnership had funded commitments of $518 million, on a net basis, to transactions across Apollo’s capital markets platform, all of which were funded through the revolving credit facility and other asset-based financing. No capital had been funded by the Company or Athene to the Apollo Capital Markets Partnership pursuant to their commitments. Whether the commitments of the Apollo Capital Markets Partnership are actually funded, in whole or in part, depends on the contractual terms of such commitments, including the satisfaction or waiver of any conditions to closing or funding. It is expected that between the time the Apollo Capital Markets Partnership makes a commitment and funding of such commitment, efforts will be made to syndicate such commitment to, among others, third parties, which should reduce its risk when committing to certain transactions. The Apollo Capital Markets Partnership may also, with respect to a particular transaction, enter into other arrangements with third parties which reduce its commitment risk. Contingent Consideration In connection with the acquisition of Stone Tower in April 2012, the Company agreed to pay the former owners of Stone Tower a specified percentage of any future performance revenues earned from certain of the Stone Tower funds, CLOs, and strategic investment accounts. This contingent consideration liability was determined based on the present value of estimated future performance revenue payments, and is recorded in profit sharing payable in the consolidated statements of financial condition. The fair value of the remaining contingent obligation was $55.0 million and $125.9 million as of December 31, 2022 and December 31, 2021, respectively. The contingent consideration obligations will be remeasured to fair value at each reporting period until the obligations are satisfied and are characterized as Level III liabilities. The changes in the fair value of the contingent consideration obligations is reflected in profit sharing expense in the consolidated statements of operations. See note 7 for further information regarding fair value measurements. Atlas On February 8, 2023 and February 23, 2023, AGM and CS undertook the first two closes of their previously announced transaction whereby Atlas acquired certain assets of the CS Securitized Products Group. AARe, a wholly-owned subsidiary of Athene, has issued an assurance letter to CS to guarantee the full five year deferred purchase obligation of Atlas in the amount of $3.3 billion. AAA and Athene have provided guarantees to support AARe, and the Company has provided a guarantee for up to $3.3 billion to support AAA. The fair value of the liability related to AAM’s guarantee is not material to the Company’s consolidated financial statements.

SEGMENT REPORTING

SEGMENT REPORTING	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING Apollo conducts its business primarily in the United States through two reportable segments: (i) asset management and (ii) principal investing. Segment information is utilized by our chief operating decision makers to assess performance and to allocate resources. The performance is measured by the Company’s chief operating decision makers on an unconsolidated basis because the chief operating decision makers make 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. Segment Reporting Changes In connection with the completion of the Mergers, Apollo undertook a strategic review of its operating structure and business segments to assess the performance of its businesses and the allocation of resources. As a result, for periods following the Mergers, Apollo reports results through two reportable segments called asset management and principal investing. In connection with these changes, all prior periods have been recast to conform to the new presentation. Consequently, this information will be different from the historical segment financial results previously reported by Apollo in its reports filed with the SEC. Adjusted Segment Income Adjusted Segment Income is the key performance measure used by management in evaluating the performance of the asset management and principal investing segments. Management uses Adjusted Segment Income to make 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; • decisions related to expenses, such as determining annual discretionary bonuses and compensation to employees. With respect to compensation, management seeks to align the interests of certain professionals and selected other individuals with those of the investors in the funds and those of Apollo’s stockholders by providing such individuals a profit sharing interest in the performance fees earned in relation to the funds. To achieve that objective, a certain amount of compensation is based on Apollo’s performance and growth for the year. Adjusted Segment Income is a measure of profitability and has certain limitations in that it does not take into account certain items included under U.S. GAAP. Adjusted Segment Income represents the amount of Apollo’s net realized earnings, excluding the effects of the consolidation of any of the related funds and SPACs, interest and preferred dividends paid to Preferred shareholders, taxes and related payables, transaction-related charges and any acquisitions. Transaction-related charges includes equity-based compensation charges, the amortization of intangible assets, contingent consideration, and certain other charges associated with acquisitions, and restructuring charges. In addition, Adjusted Segment Income excludes non-cash revenue and expense related to equity awards granted by unconsolidated related parties to employees of the Company, compensation and administrative related expense reimbursements, as well as the assets, liabilities and operating results of the funds and variable interest entities that are included in the consolidated financial statements. Adjusted Segment Income also excludes impacts of the remeasurement of the tax receivable agreement liability recorded in other income, which arises from changes in the associated deferred tax balance. Adjusted Segment Income may not be comparable to similarly titled measures used by other companies and is not a measure of performance calculated in accordance with U.S. GAAP. We use Adjusted Segment Income as a measure of operating performance, not as a measure of liquidity. Adjusted Segment Income should not be considered in isolation or as a substitute for net income or other income data prepared in accordance with U.S. GAAP. The use of Adjusted Segment Income without consideration of related U.S. GAAP measures is not adequate due to the adjustments described above. Management compensates for these limitations by using Adjusted Segment Income as a supplemental measure to U.S. GAAP results, to provide a more complete understanding of our performance as management measures it. A reconciliation of Adjusted Segment Income to its most directly comparable U.S. GAAP measure of income (loss) before income tax provision can be found in this footnote. Fee Related Earnings Fee Related Earnings (“FRE”) is a component of Adjusted Segment Income that is used to assess the performance of the asset management segment. FRE is the sum of (i) management fees, (ii) capital solutions and other related fees, (iii) fee-related performance fees from indefinite term vehicles, that are measured and received on a recurring basis and not dependent on realization events of the underlying investments and (iv) other income, net, less (a) fee-related compensation, excluding equity-based compensation, (b) non-compensation expenses incurred in the normal course of business, (c) placement fees and (d) non-controlling interests in the management companies of certain funds the Company manages. Principal Investing Income Principal Investing Income (“PII”) is a component of Adjusted Segment Income that is used to assess the performance of the principal investing segment. For the principal investing segment, PII is the sum of (i) realized performance fees, excluding realizations received in the form of shares, (ii) realized investment income, less (x) realized principal investing compensation expense, excluding expense related to equity-based compensation, and (y) certain corporate compensation and non-compensation expenses. The following tables present financial data for the Company’s reportable segments. For the Years Ended December 31, 2022 2021 2020 Asset Management Management Fees $ 2,134,497 $ 1,878,210 $ 1,647,964 Capital solutions fees and other, net 413,524 298,108 251,520 Fee-related performance fees 71,483 56,865 9,836 Fee related compensation (753,481) (653,321) (532,556) Other operating expenses (454,933) (313,146) (275,066) Fee Related Earnings (FRE) 1,411,090 1,266,716 1,101,698 Principal Investing Realized performance fees 595,260 1,589,074 280,923 Realized investment income 543,139 437,256 29,290 Principal investing compensation (580,812) (876,442) (222,438) Other operating expenses (25,190) (42,347) (52,645) Principal Investing Income (PII) 532,397 1,107,541 35,130 Adjusted Segment Income 1,943,487 2,374,257 1,136,828 Segment Assets: Asset Management $ 2,167,599 Principal Investing 8,235,326 Total Assets (1) $ 10,402,925 (1) Refer below for a reconciliation of total assets for Apollo’s total reportable segments to total consolidated assets. The following table presents the reconciliation of income before income tax provision reported in the consolidated statements of operations to Adjusted Segment Income: For the Years Ended December 31, 2022 2021 2020 Income before income tax provision $ 2,204,240 $ 4,862,274 $ 553,768 Equity-based profit sharing expense and other (1) 276,177 145,754 129,084 Equity-based compensation 184,613 79,777 67,852 Transaction-related charges (2) (36,912) 34,591 39,186 Merger-related transaction and integration costs (3) 68,072 66,848 — Charges associated with corporate conversion — — 3,893 (Gains) losses from changes in tax receivable agreement liability 26,250 (9,609) (12,426) Net income attributable to non-controlling interests in consolidated entities (352,534) (417,692) (118,378) Unrealized performance fees (2,085) (1,464,502) (34,796) Unrealized profit sharing expense 20,042 648,882 33,350 One-time equity-based compensation and other charges (4) — 949,152 — Net interest expense 91,597 132,834 117,348 Unrealized principal investment income (loss) 175,963 (221,645) (62,485) Unrealized net (gains) losses from investment activities and other (711,936) (2,432,407) 420,432 Adjusted Segment Income $ 1,943,487 $ 2,374,257 $ 1,136,828 (1) Equity-based profit sharing expense and other includes certain profit sharing arrangements in which a portion of performance fees distributed to the general partner are required to be used by employees of Apollo to purchase restricted shares of common stock or is delivered in the form of RSUs, which are granted under AGM’s Equity Plan. Equity-based profit sharing expense and other also includes performance grants which are tied to the Company’s receipt of performance fees, within prescribed periods, sufficient to cover the associated equity-based compensation expense. (2) Transaction-related charges include contingent consideration, equity-based compensation charges and the amortization of intangible assets and certain other charges associated with acquisitions, and restructuring charges. (3) Merger-related transaction and integration costs includes advisory services, technology integration, equity-based compensation charges and other costs associated with the Mergers. (4) Includes one-time equity-based compensation expense and associated taxes related to the Company’s compensation reset. The following table presents the reconciliation of the Company’s total reportable segment assets to total assets: As of As of Total reportable segment assets $ 10,402,925 $ 13,573,400 Adjustments (1) 3,391,022 16,928,494 Total assets $ 13,793,947 $ 30,501,894 (1) Represents the addition of assets of consolidated funds and VIEs and consolidation elimination adjustments.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Organization of the Company	Organization of the Company As of December 31, 2022, the Company owned 57.4% of the economic interests of, and operated and controlled all of the businesses and affairs of, the Apollo Operating Group. The remaining 42.6% of the economic interests of the Apollo Operating Group were owned by Apollo Global Management, Inc. (“AGM”).
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). The results of the Company and its subsidiaries are presented on a consolidated basis. Any ownership interest other than the Company’s interest in its subsidiaries is reflected as a non-controlling interest. Intercompany accounts and transactions have been eliminated. Management believes it has made all necessary adjustments (consisting only of normal recurring items) so that the consolidated financial statements are presented fairly and that any estimates made are reasonable and prudent. Certain reclassifications have been made to previously reported amounts to conform to the current period’s presentation.
Consolidation	Consolidation The Company consolidates entities where it has a controlling financial interest unless there is a specific scope exception that prevents consolidation. The types of entities with which the Company is involved generally include, but are not limited to: • Subsidiaries, including management companies and general partners of funds that the Company manages • Funds, including entities that have attributes of an investment company • Special purpose acquisition companies (“SPACs”) • Securitization vehicles (e.g., collateralized loan obligations (“CLOs”) Each of these entities is assessed for consolidation based on its specific facts and circumstances. In determining whether to consolidate an entity, the Company first evaluates whether the entity is a variable interest entity (“VIE”) or a voting interest entity (“VOE”) and applies the appropriate consolidation model as discussed below. If an entity is not consolidated, then the Company’s investment is generally accounted for under the equity method of accounting or as a financial instrument as discussed in the related policy discussions below. Investment Companies Judgment is required to evaluate whether an entity has the necessary characteristics to be accounted for as an investment company. The funds managed by the Company that meet the investment company criteria are generally not required to consolidate operating companies and generally reflect their investments in operating companies and other investment companies at fair value. The Company has retained this specialized accounting for investment companies in consolidation. Variable Interest Entities All entities are first considered under the VIE model. VIEs are entities that (i) do not have sufficient equity at risk to finance their activities without additional subordinated financial support or (ii) have equity investors at risk that do not have the ability to make significant decisions related to the entity’s operations, absorb expected losses, or receive expected residual returns. The Company consolidates a VIE if it is the primary beneficiary of the entity. The Company is deemed the primary beneficiary when it has a controlling financial interest in the VIE, which is defined as possessing both (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance (“primary beneficiary power”) and (ii) the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant (“significant variable interest”). The Company performs the VIE and primary beneficiary assessment at inception of its involvement with a VIE and on an ongoing basis if facts and circumstances change. To assess whether the Company has the primary beneficiary power under the VIE consolidation model, it considers the design of the entity as well as ongoing rights and responsibilities. In general, the parties that can make the most significant decisions regarding asset management have control over servicing, liquidation rights or the unilateral right to remove the decision-makers. To assess whether the Company has a significant variable interest, the Company considers all its economic interests that are considered variable interests in the entity, including interests held through related parties. This assessment requires judgment in considering whether those interests are significant. Assets and liabilities of the consolidated VIEs, other than SPACs, are primarily shown in separate sections within the consolidated statements of financial condition. Changes in the fair value of the consolidated VIEs’ assets and liabilities and related interest, dividend and other income and expenses are primarily presented within net gains from investment activities of consolidated variable interest entities in the consolidated statements of operations. The portion attributable to non-controlling interests is reported within net income attributable to non-controlling interests in the consolidated statements of operations. For additional disclosures regarding VIEs, see notes 6 and 14. Voting Interest Entities Entities that are not determined to be VIEs are generally considered VOEs. 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 unrelated investors to either dissolve the fund or remove the general partner.
Non-controlling Interests	Non-controlling Interests For entities that are consolidated, but not wholly owned, a portion of the income or loss and corresponding equity is allocated to owners other than the Company. 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 consolidated financial statements. Prior to the Corporate Recapitalization, the non-controlling interests relating to AGM included the ownership interest in the Apollo Operating Group held by Former Managing Partners and Contributing Partners through their limited partner interests in Holdings. Additionally, Athene held non-controlling interests in the Apollo Operating Group. Subsequent to the closing of the Mergers, Athene’s interest in the Apollo Operating Group was distributed to AGM. Non-controlling interests also include ownership interests in certain consolidated funds and VIEs. Non-controlling interests are presented as a separate component of stockholders’ equity on the Company’s consolidated statements of financial condition. The primary components of non-controlling interests are separately presented in the Company’s consolidated statements of changes in stockholders’ equity to clearly distinguish the interest in the Apollo Operating Group and other ownership interests in the consolidated entities. Net income includes the net income attributable to the holders of non-controlling interests on the Company’s consolidated statements of operations. Profits and losses are allocated to non-controlling interests in proportion to their relative ownership interests regardless of their basis.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts in the financial statements and related footnotes. Apollo’s most significant estimates include goodwill and intangible assets, income taxes, performance allocations, incentive fees, contingent consideration obligations related to an acquisition, non-cash compensation, and fair value of investments and debt. While such impact may change considerably over time, the estimates and assumptions affecting the Company’s consolidated financial statements are based on the best available information as of December 31, 2022. Actual results could differ materially from those estimates. Use of Estimates The preparation of the consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements, the disclosure of contingent assets and liabilities at the date of the 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, performance allocations, incentive fees, contingent consideration obligation related to an acquisition, non-cash compensation, and fair value of investments and debt. Actual results could differ materially from those estimates.
Cash and Cash Equivalents	Cash and Cash EquivalentsApollo considers all highly liquid short-term investments, including money market funds and U.S. Treasury securities, with original maturities of three months or less when purchased to be cash equivalents. Interest income from cash and cash equivalents is recorded in interest income in the consolidated statements of operations. The carrying values of the money market funds and U.S. Treasury securities represent their fair values due to their short-term nature. Substantially all of the Company’s cash on deposit is in interest bearing accounts with major financial institutions and exceed insured limits.
Restricted Cash and Cash Equivalents	Restricted Cash and Cash Equivalents Restricted cash and cash equivalents represent balances that are restricted as to withdrawal or usage. Restricted cash and cash equivalents of Apollo Strategic Growth Capital II (“APSG II”), a consolidated SPAC, is held in trust accounts and includes money market funds and U.S. Treasury bills with original maturities of three months or less, that were purchased with funds raised through the respective initial public offering of the consolidated entity. The $698.0 million in funds for APSG II as of December 31, 2022 is restricted for use and may only be used for purposes of completing an initial business combination or redemption of public shares as set forth in APSG II’s trust agreement. Refer to note 14 for further detail.
U.S. Treasury Securities, at fair value	U.S. Treasury Securities, at fair value U.S. Treasury securities, at fair value includes U.S. Treasury bills with original maturities greater than three months when purchased. These securities are recorded at fair value within investments in the consolidated statements of financial condition. Interest income on such securities is separately presented from the overall change in fair value and is recognized in interest income in the consolidated statements of operations. Any remaining change in fair value of such securities, that is not recognized as interest income, is recognized in net gains (losses) from investment activities in the consolidated statements of operations. Securities are generally recognized on a trade date basis.
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 (exit price) in an orderly transaction between market participants at the measurement date under current market conditions. Changes in the fair value of financial instruments are recorded and presented in net gains (losses) from investment activities except for certain investments for which the Company is entitled to receive performance allocations. For those investments, changes in fair value are presented in principal investment income and are included within investment income (loss) in the consolidated statement of operations. Financial instruments are generally recorded at fair value or at carrying values that approximate fair value. 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. Fair Value Option Entities are permitted to elect the fair value option (“FVO”) to carry at fair value certain financial assets and financial liabilities. The FVO election is irrevocable and can be applied to eligible financial instruments on an individual basis at initial recognition or at eligible remeasurement events. The Company has elected the FVO for financial instruments held by its consolidated CLOs, which includes investments in loans and corporate bonds, as well as debt obligations and contingent obligations. Certain consolidated VIEs have applied the FVO for investments in private debt securities that otherwise would not have been carried at fair value with gains and losses in net income. The Company has also elected the FVO for certain investments otherwise accounted for under the equity method of accounting. Refer to note 4 for additional information and other instances of when the Company has elected the FVO. Fair Value Hierarchy U.S. GAAP establishes a hierarchical disclosure framework which prioritizes and ranks the level of market price observability used in measuring financial instruments at fair value. Market price observability is affected by a number of factors, including the type of financial instrument, the characteristics specific to the financial instrument and the state of the marketplace, including the existence and transparency of transactions between market participants. Financial instruments with readily available quoted prices in active markets generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Financial instruments measured and reported at fair value are classified and disclosed based on the observability of inputs used in the determination of fair values, as follows: Level I - Quoted prices are available in active markets for identical financial instruments as of the reporting date. The Company does not adjust the quoted price for these financial instruments, 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. These financial instruments exhibit higher levels of liquid market observability as compared to Level III financial instruments. Level III - Pricing inputs are unobservable for the financial instrument and includes situations where there is little observable market activity for the financial instrument. The inputs into the determination of fair value may require significant management judgment or estimation. Financial instruments that are included in this category generally include investments 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 financial instrument would qualify for classification as Level II or Level III. 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 external pricing services. 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. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, a financial instrument’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 financial instrument when the fair value is based on unobservable inputs.
Equity Method Investments	Equity Method Investments For investments in entities over which the Company exercises significant influence but does not meet the requirements for consolidation and has not elected the fair value option, the Company uses the equity method of accounting. Under the equity method of accounting, the Company records its share of the underlying income or loss of such entities adjusted for distributions. The Company’s share of the underlying net income or loss of such entities is recorded in investment income (loss) in the consolidated statements of operations. The carrying amounts of equity method investments are recorded in investments in the consolidated statements of financial condition. Generally, the underlying entities that the Company manages and invests in are primarily investment companies, and the carrying value of the Company’s equity method investments approximates fair value.
Reverse Repurchase Agreements and Repurchase Agreements	Reverse Repurchase Agreements and Repurchase Agreements A reverse repurchase agreement is a transaction in which the Company purchases financial instruments from a seller and simultaneously enters into an agreement to resell the same or substantially the same financial instruments to the seller at a fixed and determinable price at a future date. A repurchase agreement is a transaction in which the Company sells financial instruments to a buyer, typically in exchange for cash, and simultaneously enters into an agreement to repurchase the same or substant ially the same financial instruments from the buyer at a fixed and determinable price at a future date. Although reverse repurchase and repurchase agreements generally involve the legal transfer of ownership of financial instruments, they are accounted for as financing arrangements because they require the financial instruments to be resold or repurchased before or at the maturity of the agreement. As a result, the collateral received under reverse repurchase agreements are not recognized and the collateral pledged under repurchase agreements are not derecognized in the consolidated statements of financial condition. Reverse repurchase and repurchase agreements generally sit within consolidated VIEs and as such, those reverse repurchase and repurchase agreements are reflected as investments and other liabilities, respectively, within the consolidated VIE section of the consolidated statements of financial condition. Reverse repurchase agreements are generally accounted for by electing the fair value option. Earnings from reverse repurchase agreements are included in n et gains from investment activities of consolidated variable interest entities on the consolidated statements of operations.
Financial Instruments held by Consolidated VIEs	Financial Instruments held by Consolidated VIEs The consolidated VIEs managed by the Company are primarily investment companies and CLOs. Their investments include debt and equity securities held at fair value and reverse repurchase agreements. Financial instruments are generally accounted for on a trade date basis. Under a measurement alternative permissible for consolidated collateralized financing entities, the Company measures both the financial assets and financial liabilities of consolidated CLOs in its consolidated financial statements in both cases using the fair value of the financial assets or financial liabilities, whichever are more observable. Where financial assets are more observable, 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 Company (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. Where financial liabilities are more observable, the financial liabilities of the consolidated CLOs are measured at fair value and the financial assets are measured in consolidation as: (i) the sum of the fair value of the financial liabilities, and the carrying value of any non-financial liabilities that are incidental to the operations of the CLOs less (ii) the carrying value of any non-financial assets that are incidental to the operations of the CLOs. The resulting amount is allocated to the individual financial assets using a reasonable and consistent methodology. Net income attributable to Apollo Asset Management, Inc. 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.
Leases	Leases The Company determines if an arrangement is a lease or contains a lease at inception. Operating leases are included in lease assets and lease liabilities in the consolidated statements of financial condition. The Company does not have any finance leases. Lease assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Lease assets and lease liabilities are recognized at the date of commencement of the lease (the “commencement date”) based on the present value of lease payments over the lease term. As the rate implicit in most of the Company’s leases are not readily determinable, the Company uses its derived incremental borrowing rate based on information available at commencement date in determining the present value of lease payments. The determination of an appropriate incremental borrowing rate requires judgment. The Company determined its incremental borrowing rate based on consideration of market conditions, the Company’s overall creditworthiness, and recent debt and preferred equity issuances. The Company adjusts its rate accordingly based on the term of the leases. Certain lease agreements contain lease escalation or lease incentive provisions based on the terms of the arrangement with the landlord. Lease escalations and lease incentives, if any, are recognized on a straight-line basis over the lease term. The Company’s lease agreements may also include options to extend or terminate the lease. Options to extend would not be included in the lease term until it is reasonably certain that the Company will exercise that option. Lease expense is recognized on a straight line basis over the lease term and is recorded within general, administrative and other in the consolidated statements of operations. The Company has lease agreements with non-lease components (e.g., estimated operating expenses associate with the lease), which are accounted for separately.
Due from/to Related Parties	Due from/to Related PartiesDue from/to related parties includes Apollo’s existing partners, employees, certain former employees, Apollo’s parent company, portfolio companies of the funds managed by Apollo and nonconsolidated funds.
Other Assets	Other Assets Other assets primarily includes fixed assets, net, deferred equity-based compensation, prepaid expenses and intangible assets. Finite-lived intangible assets such as contractual rights to earn future management fees and incentive fees acquired in business combinations are amortized over their estimated useful lives, which are periodically re-evaluated for impairment or when circumstances indicate an impairment may have occurred. Apollo amortizes its identifiable finite-lived intangible assets using a method of amortization reflecting the pattern in which the economic benefits of the finite-lived intangible assets are consumed or otherwise used up. If that pattern cannot be reliably determined, Apollo uses the straight-line method of amortization. Fixed assets consist primarily of leasehold improvements, furniture, fixtures, equipment, and computer hardware and are recorded at cost, net of accumulated depreciation and amortization. Depreciation and amortization is calculated using the straight-line method over the assets’ estimated useful lives and in the case of leasehold improvements the lesser of the useful life or the term of the lease. Expenditures for repairs and maintenance are charged to expense when incurred. The Company evaluates long-lived assets for impairment periodically and whenever events or changes in circumstances indicate the carrying amounts of the assets may be impaired.
Business Combinations	Business CombinationsThe Company accounts for business combinations using the acquisition method of accounting, under which the purchase price of the acquisition is allocated to the assets acquired and liabilities assumed using the fair values determined by management as of the acquisition date. Contingent consideration obligations that are elements of the consideration transferred are recognized as of the acquisition date as part of the fair value transferred in exchange for the acquired business. Acquisition-related costs incurred in connection with a business combination are expensed as incurred.
Goodwill	Goodwill Goodwill represents the excess of cost over the fair value of identifiable net assets of an acquired business. Goodwill and other indefinite lived intangible assets are tested annually for impairment or more frequently if circumstances indicate impairment may have occurred.
Deferred Revenue and Revenues	Deferred Revenue Apollo records deferred revenue, which is a type of contract liability, when consideration is received in advance of management services provided. Deferred revenue is reversed and recognized as revenue over the period that the agreed upon services are performed. It is included in accounts payable, accrued expenses, and other liabilities in the consolidated statements of financial condition. Apollo also earns management fees which are subject to an offset. When Apollo 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 the relevant fund. Such credit is recorded as deferred revenue in the consolidated statements of financial condition within the accounts payable, accrued expenses, and other liabilities line item. 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 Company are presented on a gross basis, any management fee offsets calculated are presented as a reduction to advisory and transaction fees in the 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 Apollo manages. When Apollo receives a payment from a portfolio company that exceeds the advisory fees earned at that point in time, the excess payment is recorded as deferred revenue in the 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. There was $114.0 million of revenue recognized during the year ended December 31, 2022 that was previously deferred as of January 1, 2022. 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 it manages to investors. In cases where the limited partners of the funds are determined to be the customer in an arrangement, placement fees may be capitalized as a cost to acquire a customer contract, and amortized over the life of the customer contract. Capitalized placement fees are recorded within other assets in the consolidated statements of financial condition, while amortization is recorded within general, administrative and other in the consolidated statements of operations. 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. Revenues The Company’s revenues include (i) management fees; (ii) advisory and transaction fees, net; (iii) investment income, which is comprised of performance allocations and principal investment income; and (iv) incentive fees. The revenue guidance requires 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 (i.e., the transaction price). When determining the transaction price, under the revenue guidance, an entity may recognize variable consideration only to the extent that it is probable to not be significantly reversed. The revenue guidance also requires disclosures to help users of financial statements better understand the nature, amount, timing, and uncertainty of revenue that is recognized. Performance allocations are accounted for under guidance applicable to equity method investments, and therefore not within the scope of the revenue guidance. The Company recognizes performance allocations within investment income along with the related principal investment income (as further described below) in the consolidated statements of operations and within the investments line in the consolidated statements of financial condition.
Debt Issuance Costs	Debt Issuance Costs Debt issuance costs consist of costs incurred in obtaining financing and are amortized over the term of the financing using the effective interest method. These costs are generally recorded as a direct deduction from the carrying amount of the related debt liability on the consolidated statements of financial condition.
Redeemable non-controlling interests	Redeemable non-controlling interestsRedeemable non-controlling interests are attributable to VIEs and primarily represent the shares issued by the Company’s consolidated SPACs whose shares are redeemable for cash by the respective public shareholders in connection with the applicable SPAC’s failure to complete a business combination or its tender offer/stockholder approval provisions. The redeemable non-controlling interests are initially recorded at their original issue price, net of issuance costs and the initial fair value of separately traded warrants. The carrying amount is accreted to its redemption value over the period from the date of issuance to the earliest redemption date of the instrument. The accretion to redemption value is generally recorded against additional paid-in capital.
Foreign Currency	Foreign Currency The Company may, from time to time, hold foreign currency denominated assets and liabilities. The functional currency of the Company’s international subsidiaries is generally the U.S. Dollar, as their operations are considered an extension of U.S. parent operations. Nonmonetary assets and liabilities of the Company’s international subsidiaries are remeasured into the functional currency using historical exchange rates specific to each asset and liability, the exchange rates prevailing at the end of each reporting period is used for all others. The results of the Company’s foreign operations are normally remeasured using an average exchange rate for the respective reporting period. Currency remeasurement adjustments are included within other income, net in the consolidated statements of operations. Gains and losses on the settlement of foreign currency transactions are also included within other income, net in the consolidated statements of operations. Foreign currency denominated assets and liabilities are translated into the reporting currency using the exchange rates prevailing at the end of each reporting period. The results of the Company’s foreign operations are normally translated using an average exchange rate for the respective reporting period. Currency translation adjustments are included within other comprehensive income (loss), net of tax within the consolidated statements of comprehensive income.
Management Fees	Management Fees Management fees are recognized over time during the periods in which the related services are performed in accordance with the contractual terms of the related agreement. Management fees are generally based on (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 provided in the respective agreements. Included in management fees are certain expense reimbursements where the Company is considered the principal under the agreements and is required to record the expense and related reimbursement revenue on a gross basis.
Advisory and Transaction Fees, Net	Advisory and Transaction Fees, Net Advisory fees, including management consulting fees and directors’ fees, are generally recognized over time as the underlying services are provided in accordance with the contractual terms of the related agreement. The Company receives such fees in exchange for ongoing management consulting services provided to portfolio companies of funds it manages. Transaction fees, including structuring fees and arranging fees related to the Company’s funds, portfolio companies of funds and third parties are generally recognized at a point in time when the underlying services rendered are complete. The amounts due from fund portfolio companies are recorded in due from related parties on the consolidated statements of financial condition, which is discussed further in note 14. 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. Advisory and transaction fees are reduced by these management fee offsets in the consolidated statements of operations. Underwriting fees, which are also included within advisory and transaction fees, net, include gains, losses and fees, arising from securities offerings in which one of the Company’s subsidiaries participates in the underwriter syndicate. Underwriting fees are recognized at a point in time when the underwriting is completed. Underwriting fees recognized but not received are recorded in other assets on the consolidated statements of financial condition.
Investment Income	Investment Income Investment income is comprised of performance allocations and principal investment income. Performance Allocations. Performance allocations are a type of performance revenue (i.e., income earned based on the extent to which an entity’s performance exceeds predetermined thresholds). Performance allocations are generally structured from a legal standpoint as an allocation of capital in which the Company’s capital account receives allocations of the returns of an entity when those returns exceed predetermined thresholds. The determination of which performance revenues are considered performance allocations is primarily based on the terms of an agreement with the entity. The Company recognizes performance allocations within investment income along with the related principal investment income (as described further below) in the consolidated statements of operations and within the investments line in the consolidated statements of financial condition. When applicable, the Company may record a general partner obligation to return previously distributed performance allocations. The general partner obligation is based upon an assumed liquidation of a fund’s net assets as of the reporting date and is reported within due to related parties on the consolidated statements of financial condition. 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 governing document of the fund.
Incentive Fees	Incentive Fees Incentive fees are a type of performance revenue. Incentive fees differ from performance allocations in that incentive fees do not represent an allocation of capital but rather a contractual fee arrangement with the entity.
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.
Equity-Based Compensation	Equity-Based Compensation Employees and non-employees who provide services to the Company are granted equity-based awards as compensation which 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. In addition, certain restricted share units (“RSUs”) granted by AGM vest based on both continued service and the Company’s receipt of performance revenues, within prescribed periods, sufficient to cover the associated equity-based compensation expense. In accordance with U.S. GAAP, equity-based compensation expense for such awards, if and when granted, will be recognized on an accelerated recognition method over the requisite service period to the extent the performance revenue metrics are met or deemed probable. The Company accounts for forfeitures of equity-based awards when they occur.
Profit Sharing	Profit Sharing Profit sharing expense and profit sharing payable primarily consist of a portion of performance revenues earned from certain funds that are allocated to employees and former employees. Profit sharing amounts are recognized as the related performance revenues are earned. Accordingly, profit sharing amounts can be reversed during periods when there is a decline in performance revenues that were previously recognized. Profit sharing expense is recorded in compensation and benefits in the consolidated statements of operations. Profit sharing payable is recorded in accounts payable, accrued expenses and other liabilities for Asset Management in the consolidated statements of financial condition. Profit sharing amounts are generally not paid until the related performance revenue is distributed to the general partner upon realization of the fund’s investments. Under certain profit sharing arrangements, the Company requires that a portion of certain of the performance revenues distributed to its employees be used to purchase restricted common stock issued under AGM’s Equity Plan. Prior to distribution of the performance revenue, the Company records the value of the equity-based awards expected to be granted in other assets and other liabilities within the consolidated statements of financial condition. Such equity-based awards are recorded as equity-based compensation expense over the relevant service period once granted. Additionally, profit sharing amounts previously distributed may be subject to clawback from employees and former employees. When applicable, the accrual for potential clawback of previously distributed profit sharing amounts, which is a component of due from related parties on the consolidated statements of financial condition, represents all amounts previously distributed to employees and former employees that would need to be returned to the general partner if the Apollo funds were to be liquidated based on the fair value of the underlying funds’ investments as of the reporting date. The actual general partner receivable, however, would not become realized 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 governing document of the fund. Profit sharing payable also includes contingent consideration obligations that were recognized in connection with certain Apollo acquisitions. Changes in the fair value of the contingent consideration obligations are reflected in the Company’s consolidated statements of operations as compensation and benefits.
401(k) Savings Plan	401(k) Savings Plan The Company sponsors a 401(k) savings plan (the “401(k) Plan”) whereby U.S.-based employees are entitled to participate in the 401(k) Plan based upon satisfying certain eligibility requirements. The Company matches 50% of eligible annual employee contributions up to 3% of the eligible employees’ annual compensation. Matching contributions vest after three years of service.
General, Administrative and Other	General, Administrative and OtherGeneral, administrative and other primarily includes professional fees, occupancy, depreciation and amortization, travel, information technology, administration expenses and placement fees.
Other Income	Other Income 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 investments, at fair value between the opening reporting date and the closing reporting date. Net Gains 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 are presented within net gains from investment activities of consolidated variable interest entities and are attributable to non-controlling interests in the consolidated statements of operations. Other Income (Loss), Net
Income Taxes	Income Taxes The Company is a Delaware corporation and generally all of its income is subject to U.S. corporate income taxes. Certain subsidiaries of the Company operate as partnerships for U.S. income tax purposes and are subject to NYC UBT. Certain non-U.S. entities are also subject to non-U.S. corporate income taxes. The Company is included in the U.S. federal consolidated and certain state combined income tax returns with AGM and its other subsidiaries. For purposes of these separate company consolidated financial statements, the Company’s taxes were determined using the separate return method as if the Company had filed tax returns separate from AGM. As a result, the tax effects of certain activity and the tax treatment of certain transactions included in the consolidated financial statements of AGM may not be the same in the Company’s separate company consolidated financial statements. Significant judgment is required in determining tax expense and in evaluating certain and uncertain tax positions. The Company recognizes the tax benefit of uncertain tax positions when the position is “more likely than not” to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. The tax benefit is measured as the largest amount of benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. If a tax position is not considered more likely than not to be sustained, then no benefits of the position are recognized.
Comprehensive Income (Loss)	Comprehensive Income (Loss) U.S. GAAP guidance establishes standards for reporting comprehensive income and its components in a financial statement that is displayed with the same prominence as other financial statements. U.S. GAAP requires that the Company classify items of other comprehensive income (loss) (“OCI”) by their nature in the financial statements and display the accumulated balance of OCI separately in the stockholders’ equity section of the Company’s consolidated statements of financial condition. Comprehensive income consists of net income and OCI. Apollo’s OCI is primarily comprised of foreign currency translation adjustments associated with the Company's non-U.S. dollar denominated subsidiaries.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Reference Rate Reform (Topic 848) — Deferral of the Sunset Date of Topic 848 (ASU 2022-06, ASU 2021-01, ASU 2020-04) The Company adopted ASU 2020-04 and ASU 2021-01 and elected to apply certain of the practical expedients related to contract modifications, hedge accounting relationships, and derivative modifications pertaining to discounting, margining, or contract price alignment. The main purpose of the practical expedients is to ease the administrative burden of accounting for contracts impacted by reference rate reform, and these elections did not have, and are not expected to have, a material impact on the Consolidated Financial Statements. ASU 2022-06 amended and deferred the sunset date of Topic 848 from December 31, 2022, to December 31, 2024, after which the Company will no longer be permitted to apply the expedients provided in Topic 848. We will continue to evaluate the impact of reference rate reform on contract modifications and hedging relationships. Business Combinations – Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (ASU 2021-08) In October 2021, the FASB issued guidance to add contract assets and contract liabilities from contracts with customers acquired in a business combination to the list of exceptions to the fair value recognition and measurement principles that apply to business combinations, and instead require them to be accounted for in accordance with revenue recognition guidance. The new guidance was adopted by the Company on January 1, 2023 and applied prospectively. Fair Value Measurement — Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (ASU 2022-03) In June 2022, the FASB issued clarifying guidance that a restriction which is a characteristic of the holding entity rather than a characteristic of the equity security itself should not be considered in its fair value measurement. As a result, the Company is required to measure the fair value of equity securities subject to contractual restrictions attributable to the holding entity on the basis of the market price of the same equity security without those contractual restrictions. Companies are not permitted to recognize a contractual sale restriction attributable to the holding entity as a separate unit of account. The guidance also requires disclosures for these equity securities. The new guidance is mandatorily effective for the Company by January 1, 2024 with early adoption permitted. When adopted, the Company will apply the guidance on a prospective basis as an adjustment to current-period earnings with the adoption impact disclosed in the period of adoption. The Company is currently evaluating the new guidance and its impact on the consolidated financial statements.

GOODWILL (Tables)

GOODWILL (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table presents Apollo’s goodwill by segment: As of As of Asset Management $ 231,562 $ 84,776 Principal Investing 32,182 32,182 Total Goodwill $ 263,744 $ 116,958

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Summary of Investments	The following table presents Apollo’s investments: As of As of Investments, at fair value $ 1,321,220 $ 5,588,992 Equity method investments 978,923 1,345,750 Performance allocations 2,635,180 2,731,733 U.S. Treasury Securities, at fair value 708,844 1,687,105 Total Investments $ 5,644,167 $ 11,353,580
Summary of Equity Method Investments	As such, the following tables present summarized financial information of Athene Holding: For the Year Ended December 31, 2021 (in millions) Statements of Financial Condition Investments $ 177,567 Assets 235,149 Liabilities 212,968 Equity 22,181 For the Years Ended December 31, 2022 (1) 2021 2020 (in millions) Statements of Operations Revenues $ (269) $ 26,320 $ 14,764 Benefits and expenses 2,504 22,134 12,558 Income (loss) before income taxes (2,773) 4,186 2,206 Income tax expense (benefit) (407) 386 285 Net income (loss) (2,366) 3,800 1,921 Less: Net income (loss) attributable to non-controlling interests (883) (59) 380 Net income (loss) available to Athene Holding Ltd. shareholders $ (1,483) $ 3,859 $ 1,541 Less: Preferred stock dividends 35 141 95 Net income (loss) available to Athene Holding Ltd. common shareholders $ (1,518) $ 3,718 $ 1,446 (1) Reflects financial information for the quarter ended March 31, 2022. Equity Method Investments The tables below present summarized financial information of the Company’s equity method investments in aggregate: Statement of Financial Condition As of December 31, 2022 (1) 2021 (1) Investments $ 192,697,767 $ 167,822,116 Assets 213,480,443 179,261,843 Liabilities 115,817,931 103,549,788 Equity 97,662,512 75,712,055 Statement of Operations For the Years Ended 2022 (1) 2021 (1) 2020 (1) Revenues/Investment Income $ 7,647,558 $ 5,248,925 $ 7,283,270 Expenses 7,629,387 4,935,441 6,075,122 Net Investment Income (Loss) 18,171 313,484 1,208,148 Net Realized and Unrealized Gain (Loss) 2,687,584 15,881,825 2,376,496 Net Income (Loss) 2,705,755 16,195,309 3,584,644 (1) Certain fund amounts are as of and for the twelve months ended September 30, 2022, 2021 and 2020 and exclude amounts related to Athene Holding.
Summary of Realized and Net Change in Unrealized Gains (Losses) on Investments, at Fair Value	Net Gains (Losses) from Investment Activities The following table presents the realized and net change in unrealized gains reported in net gains (losses) from investment activities: For the Years Ended December 31, 2022 2021 2020 Realized gains (losses) on sales of investments, net $ 199,372 $ (238) $ 2,081 Net change in unrealized gains (losses) due to changes in fair value 735,392 2,611,141 (457,568) Net gains (losses) from investment activities $ 934,764 $ 2,610,903 $ (455,487)
Summary of Performance Allocation	Performance allocations receivable is recorded within investments in the consolidated statements of financial condition. The table below provides a roll forward of the performance allocations balance: Total Performance allocations, January 1, 2021 $ 1,624,156 Change in fair value of funds 2,768,435 Fund distributions to the Company (1,660,858) Performance allocations, December 31, 2021 $ 2,731,733 Change in fair value of funds 676,447 Fund distributions to the Company (773,000) Performance allocations, December 31, 2022 $ 2,635,180

PROFIT SHARING PAYABLE (Tables)

PROFIT SHARING PAYABLE (Tables)	12 Months Ended
	Dec. 31, 2022
Profit Sharing Payable [Abstract]
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: Total Profit sharing payable, January 1, 2021 $ 842,677 Profit sharing expense 1,469,800 Payments/other (867,825) Profit sharing payable, December 31, 2021 $ 1,444,652 Profit sharing expense 533,012 Payments/other (565,213) Profit sharing payable, December 31, 2022 $ 1,412,451

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Gain on Investments of Variable Interest Entities	The following table presents net gains from investment activities of the consolidated VIEs: For the Years Ended December 31, 2022 (1) 2021 (1) 2020 (1) Net gains (losses) from investment activities $ 158,785 $ 525,740 $ (22,451) Net gains from debt 10,138 54,638 27,118 Interest and other income 263,753 745,590 440,425 Interest and other expenses (27,587) (768,679) (247,723) Net gains from investment activities of consolidated variable interest entities $ 405,089 $ 557,289 $ 197,369 (1) Amounts reflect consolidation eliminations.
Principal Provisions of Debt	The following table summarizes the principal provisions of those amounts. As of December 31, 2022 As of December 31, 2021 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) $ — N/A N/A $ 7,431,467 3.16 % 15.5 Subordinated Notes (2) — N/A N/A 613,192 N/A (1) 14.5 Subscription Lines (2) 686,473 6.22 % 0.08 — N/A N/A Secured Borrowings (2)(3) — N/A N/A 18,149 2.33 % 0.4 Total $ 686,473 $ 8,062,808 (1) The principal outstanding balance of the subordinated notes do not have contractual interest rates but instead receive distributions from the excess cash flows of the VIEs. (2) The notes, subscription lines and borrowings of the consolidated VIEs are collateralized by assets held by each respective vehicle and assets of one vehicle may not be used to satisfy the liabilities of another vehicle. (3) As of December 31, 2021, secured borrowings consist of consolidated VIEs’ obligations through a repurchase agreement redeemable at maturity with third party lenders. The fair value of the secured borrowings as of December 31, 2021 approximates principal outstanding due to the short term nature of the borrowings. These secured borrowings are classified as a Level III liability within the fair value hierarchy.
Schedule of Repurchase Agreements	The following table summarizes the maturities of repurchase agreements: December 31, 2022 Remaining Contractual Maturity Overnight and continuous Less than 30 days 30-90 days 91 days to 364 days 1 year and greater Total Payables for repurchase agreements (1) $ — $ — $ — $ 1,254,109 $ — $ 1,254,109 (1) Included in other liabilities of consolidated variable interest entities on the consolidated statements of financial condition. The following table summarizes the gross carrying value of repurchase agreements by class of collateral pledged: December 31, 2022 Loans backed by residential real estate $ 770,190 Loans backed by commercial real estate 483,919 Total $ 1,254,109 Note: These repurchase agreements are carried at cost which approximates fair value and is classified as Level II of the fair value hierarchy.
Carrying Amounts of Assets and Liabilities	The following table presents the maximum exposure to losses relating to these VIEs for which Apollo has concluded that it holds a significant variable interest, but that it is not the primary beneficiary. As of (2) As of (2) Apollo Exposure (1) $ 343,383 $ 240,871 (1) Represents Apollo’s direct investment in those entities in which Apollo holds a significant variable interest and certain other investments. Additionally, cumulative performance allocations are subject to reversal in the event of future losses, as discussed in note 15. (2) Some amounts included are a quarter in arrears.

FAIR VALUE MEASUREMENTS OF FI_2

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Valuation of the Financial Assets and Liabilities by the Fair Value Hierarchy	The following tables summarize the Company’s financial assets and financial liabilities recorded at fair value by fair value hierarchy level: As of December 31, 2022 Level I Level II Level III NAV Total Assets Cash and cash equivalents (1) $ 1,200,735 $ — $ — $ — $ 1,200,735 Restricted cash and cash equivalents (2) 1,048,129 — — — 1,048,129 Cash and cash equivalents of VIEs 109,578 — — — 109,578 U.S. Treasury securities (3) 708,844 — — — 708,844 Investments, at fair value 189,995 38,729 1,084,349 (4) 8,147 1,321,220 Investments of VIEs, at fair value — 1,537,479 727,200 106,205 2,370,884 Due from related parties (5) — — 43,413 — 43,413 Derivative assets (6) — — 15,492 — 15,492 Total Assets $ 3,257,281 $ 1,576,208 $ 1,870,454 $ 114,352 $ 6,818,295 Liabilities Other liabilities of VIEs, at fair value $ — $ 24 $ — $ — $ 24 Contingent consideration obligations (7) — — 55,016 — 55,016 Other liabilities (8) 1,932 — — — 1,932 Derivative liabilities (6) — 56,674 — — 56,674 Total Liabilities $ 1,932 $ 56,698 $ 55,016 $ — $ 113,646 As of December 31, 2021 Level I Level II Level III NAV Total Assets Cash and cash equivalents (1) $ 917,183 $ — $ — $ — $ 917,183 Restricted cash and cash equivalents (2) 707,885 — — — 707,885 Cash and cash equivalents of VIEs 463,266 — — — 463,266 U.S. Treasury securities (3) 1,687,105 — — — 1,687,105 Investments Investment in Athene Holding 4,548,048 — — — 4,548,048 Other investments 48,493 46,267 946,184 (4) — 1,040,944 Total investments 4,596,541 46,267 946,184 — 5,588,992 Investments of VIEs, at fair value 6,232 1,055,421 13,187,803 487,595 14,737,051 Due from related parties (5) — — 47,835 — 47,835 Derivative assets (6) — 7,436 — — 7,436 Total Assets $ 8,378,212 $ 1,109,124 $ 14,181,822 $ 487,595 $ 24,156,753 Liabilities Debt of VIEs, at fair value $ — $ 446,029 $ 7,496,479 $ — $ 7,942,508 Other liabilities of VIEs, at fair value — 3,111 31,090 557 34,758 Contingent consideration obligations (7) — — 125,901 — 125,901 Other liabilities (8) 47,961 — — — 47,961 Derivative liabilities (6) — 1,520 — — 1,520 Total Liabilities $ 47,961 $ 450,660 $ 7,653,470 $ 557 $ 8,152,648 (1) Cash and cash equivalents as of December 31, 2022 and December 31, 2021 includes $0.4 million and $1.8 million, respectively, of cash and cash equivalents held by consolidated SPACs. Refer to note 14 for further information. (2) Restricted cash and cash equivalents as of December 31, 2022 and December 31, 2021 includes $1.0 billion and $690.2 million, respectively, of restricted cash and cash equivalents held by consolidated SPACs. Refer to note 14 for further information. (3) U.S. Treasury securities as of December 31, 2021 includes $1.2 billion of U.S. Treasury securities held by consolidated SPACs. Refer to note 14 for further information. (4) Investments as of December 31, 2022 and December 31, 2021 excludes $198.1 million and $175.8 million, respectively, of performance allocations classified as Level III related to certain investments for which the Company elected the fair value option. The Company’s policy is to account for performance allocations as investments. (5) Due from related parties represents a receivable from a fund. (6) Derivative assets and derivative liabilities are presented as a component of Other assets and Other liabilities, respectively, in the consolidated statements of financial condition. (7) Profit sharing payable includes contingent obligations classified as Level III. (8) Other liabilities as of December 31, 2022 includes the publicly traded warrants of APSG II. Other liabilities as of December 31, 2021 includes the publicly traded warrants of APSG I and APSG II.
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 Year Ended December 31, 2022 Investments and Derivative Assets Investments of Consolidated VIEs Total Balance, Beginning of Period $ 946,184 $ 13,187,803 $ 14,133,987 Net transfer in (out) due to consolidation (deconsolidation) 21,710 (12,627,487) (12,605,777) Purchases 232,244 3,111,780 3,344,024 Sale of investments/distributions (121,160) (3,196,867) (3,318,027) Net realized gains (losses) 47,134 30,263 77,397 Changes in net unrealized gains (losses) 7,472 204,018 211,490 Cumulative translation adjustment (34,747) (10,808) (45,555) Transfer into Level III (1) 1,004 38,465 39,469 Transfer out of Level III (1) — (9,967) (9,967) Balance, End of Period $ 1,099,841 $ 727,200 $ 1,827,041 Change in net unrealized gains included in investment income (loss) related to investments still held at reporting date $ 56,483 $ — $ 56,483 Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to investments still held at reporting date — 17,261 17,261 For the Year Ended December 31, 2021 Other Investments Investments of Consolidated VIEs Total Balance, Beginning of Period $ 369,772 $ 10,962,980 $ 11,332,752 Transfer out due to deconsolidation — (230,541) (230,541) Purchases 492,326 3,679,767 4,172,093 Sale of investments/distributions (3,235) (1,444,857) (1,448,092) Net realized gains (losses) 20,063 34,152 54,215 Changes in net unrealized gains (losses) 81,613 444,686 526,299 Cumulative translation adjustment (12,639) (31,717) (44,356) Transfer into Level III (1) 706 44,686 45,392 Transfer out of Level III (1) (2,422) (271,353) (273,775) Balance, End of Period $ 946,184 $ 13,187,803 $ 14,133,987 Change in net unrealized gains included in investment income (loss) related to investments still held at reporting date $ 81,613 $ — $ 81,613 Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to investments still held at reporting date — 307,829 307,829 (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 external pricing services.
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 Year Ended December 31, 2022 Contingent Consideration Obligations Debt and Other Liabilities of Consolidated VIEs Total Balance, Beginning of Period $ 125,901 $ 7,527,569 $ 7,653,470 Transfer out due to deconsolidation — (7,057,668) (7,057,668) Issuances — 1,276 1,276 Payments (13,358) (443,509) (456,867) Net realized (gains) losses — (480) (480) Changes in net unrealized (gains) losses (1) (57,527) (16,368) (73,895) Cumulative translation adjustment — (10,820) (10,820) Balance, End of Period $ 55,016 $ — $ 55,016 For the Year Ended December 31, 2021 Contingent Consideration Obligations Debt and Other Liabilities of Consolidated VIEs Total Balance, Beginning of Period $ 119,788 $ 7,100,620 $ 7,220,408 Issuances — 705,726 705,726 Payments (20,609) (320,529) (341,138) Net realized (gains) losses — 6,713 6,713 Changes in net unrealized (gains) losses (1) 26,722 66,212 92,934 Cumulative translation adjustment — (31,626) (31,626) Transfers into Level III (2) — 453 453 Balance, End of Period $ 125,901 $ 7,527,569 $ 7,653,470 Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to debt and other liabilities still held at reporting date $ — $ 44,895 $ 44,895 (1) Changes in fair value of contingent consideration obligations are recorded in profit sharing expense in the consolidated statements of operations. (2) 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.
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 December 31, 2022 Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted Average (1) Financial Assets Investments $ 525,696 Embedded value N/A N/A N/A 128,368 Discounted cash flow Discount rate 8.9% - 52.8% 28.7% 430,285 Adjusted transaction value N/A N/A N/A Due from related parties 43,413 Discounted cash flow Discount rate 15.0% 15.0% Derivative assets 15,492 Option model Volatility rate 60.0% 60.0% Investments of consolidated VIEs: Equity securities 458,282 Dividend discount model Discount rate 12.1% 12.1% Bank loans 243,703 Discounted cash flow Discount rate 6.4% - 32.7% 8.0% Adjusted transaction value N/A N/A N/A Bonds 25,065 Discounted cash flow Discount rate 7.9% 7.9% Warrants 150 Discounted cash flow Discount rate 15.4% 15.4% Total Financial Assets $ 1,870,454 Financial Liabilities Contingent Consideration Obligation 55,016 Discounted cash flow Discount rate 20.0% - 25.0% 23.6% Total Financial Liabilities $ 55,016 As of December 31, 2021 Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted Average (1) Financial Assets Other investments $ 516,221 Embedded value N/A N/A N/A 169,625 Discounted cash flow Discount rate 14.0% - 52.8% 26.4% 260,338 Adjusted transaction value N/A N/A N/A Due from related parties 47,835 Discounted cash flow Discount rate 16.0% 16.0% Investments of consolidated VIEs: Equity securities 4,144,661 Discounted cash flow Discount rate 3.0% - 19.0% 10.4% Dividend discount model Discount rate 13.7% 13.7% Market comparable companies NTAV multiple 1.25x 1.25x Adjusted transaction value Purchase multiple 1.25x 1.25x Adjusted transaction value N/A N/A N/A Bank loans 4,569,873 Discounted cash flow Discount rate 1.8% - 15.6% 4.3% Adjusted transaction value N/A N/A N/A Profit participating notes 2,849,150 Discounted cash flow Discount rate 8.7% - 12.5% 12.4% Adjusted transaction value N/A N/A N/A Real estate 511,648 Discounted cash flow Capitalization rate 4.0% - 5.8% 5.3% Discounted cash flow Discount rate 5.0% - 12.5% 7.3% Discounted cash flow Terminal capitalization rate 8.3% 8.3% Direct capitalization Capitalization rate 5.5% - 8.5% 6.2% Direct capitalization Terminal capitalization rate 6.0% - 12.0% 6.9% Bonds 50,885 Discounted cash flow Discount rate 4.0% - 7.0% 6.1% Third party pricing N/A N/A N/A As of December 31, 2021 Fair Value Valuation Techniques Unobservable Inputs Ranges Weighted Average (1) Other equity investments 1,061,586 Discounted cash flow Discount rate 11.8% -12.5% 12.1% Adjusted transaction value N/A N/A N/A Total Investments of Consolidated VIEs 13,187,803 Total Financial Assets $ 14,181,822 Financial Liabilities Liabilities of Consolidated VIEs: Secured loans $ 4,311,348 Discounted cash flow Discount rate 1.4% - 10.0% 2.8% Subordinated notes 3,164,491 Discounted cash flow Discount rate 4.5% - 11.9% 5.8% Participating equity 20,640 Discounted cash flow Discount rate 15.0% 15.0% Other liabilities 31,090 Discounted cash flow Discount rate 3.7% - 9.3% 6.3% Total Liabilities of Consolidated VIEs 7,527,569 Contingent Consideration Obligation 125,901 Discounted cash flow Discount rate 18.5% 18.5% Total Financial Liabilities $ 7,653,470 N/A Not applicable EBITDA Earnings before interest, taxes, depreciation, and amortization NTAV Net tangible asset value (1) Unobservable inputs were weighted based on the fair value of the investments included in the range.

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets consisted of the following: As of As of Fixed assets $ 447,065 $ 256,252 Less: Accumulated depreciation and amortization (160,654) (130,072) Fixed assets, net 286,411 126,180 Deferred equity-based compensation (1) 279,973 282,900 Intangible assets, net (2) 179,215 14,846 Commitment asset (3) 138,385 — Prepaid expenses 62,098 57,765 Tax receivables 92,610 30,334 Other 137,063 73,876 Total Other Assets $ 1,175,755 $ 585,901 (1) Deferred equity-based compensation relates to the value of equity-based awards that have been or are expected to be granted in connection with the settlement of certain profit sharing arrangements. A corresponding amount for awards expected to be granted of $227.8 million and $210.6 million, as of December 31, 2022 and 2021, respectively, is included in other liabilities on the consolidated statements of financial condition. (2) Includes intangible assets from the acquisition of Griffin Capital's U.S. asset management business. (3) Represents a commitment from an institutional investor as part of a strategic transaction.
Schedule of Finite-Lived Intangible Assets	Intangible assets, net consists of the following: As of December 31, 2022 2021 Intangible assets/management contracts $ 455,072 $ 272,542 Accumulated amortization (275,857) (257,696) Intangible assets, net $ 179,215 $ 14,846 The changes in intangible assets, net consist of the following and includes approximately $1.0 million and $1.8 million of indefinite-lived intangible assets as of December 31, 2022 and 2021, respectively. For the Years Ended December 31, 2022 2021 2020 Balance, beginning of year $ 14,846 $ 23,586 $ 20,615 Amortization expense (18,161) (8,740) (7,431) Acquisitions / additions, net of disposal (1) 182,530 — 10,402 Balance, end of year $ 179,215 $ 14,846 $ 23,586 (1) Includes intangible assets from the acquisition of Griffin Capital's U.S. asset management business for the year ended December 31, 2022.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Expected amortization of these intangible assets for each of the next 5 years and thereafter is as follows: 2023 2024 2025 2026 2027 Thereafter Total Amortization of intangible assets $ 22,213 $ 19,688 $ 18,620 $ 18,620 $ 18,611 $ 80,503 $ 178,255

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Lease Expense, Supplemental Cash Flow Information and Maturities of Lease Liabilities	The table below presents operating lease expenses recorded in general, administrative and other in the consolidated statements of operations. For the Years Ended December 31, 2022 2021 2020 Operating lease cost $ 71,445 $ 48,661 46,483 The following table presents supplemental cash flow information related to operating leases: For the Years Ended December 31, 2022 2021 2020 Operating cash flows for operating leases $ 51,886 $ 31,802 27,452 Supplemental information related to leases is as follows: As of As of Weighted average remaining lease term (in years) 12.3 12.3 Weighted average discount rate 2.8 % 2.7 %
Lease Payments by Maturity	As of December 31, 2022, the Company’s total lease payments by maturity are presented in the following table: Operating Lease Payments 2023 $ 68,979 2024 68,056 2025 66,464 2026 62,885 2027 65,296 Thereafter 454,279 Total lease payments $ 785,959 Less imputed interest (121,593) Present value of lease payments $ 664,366

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The provision for income taxes is presented in the following table: For the Years Ended December 31, 2022 2021 2020 Current: Federal income tax $ 26,040 $ 83,201 $ 21,039 Foreign income tax (1) 29,513 32,530 24,926 State and local income tax 46,776 3,562 5,389 Subtotal 102,329 119,293 51,354 Deferred: Federal income tax 128,717 422,561 9,109 Foreign income tax (1) (1,168) (946) 42 State and local income tax (19,958) 53,471 26,461 Subtotal 107,591 475,086 35,612 Total Income Tax Provision $ 209,920 $ 594,379 $ 86,966 (1) The foreign income tax provision was derived from $183.3 million, $211.7 million and $115.9 million of pre-tax income generated in foreign jurisdictions for the years ended December 31, 2022, 2021 and 2020, respectively.
Schedule of Effective Income Tax Rate Reconciliation	The following table reconciles the U.S. Federal statutory tax rate to the effective income tax rate: For the Years Ended December 31, 2022 2021 2020 U.S. Federal Statutory Tax Rate 21.0 % 21.0 % 21.0 % Income Passed Through to Non-controlling interests (10.3) (10.4) (12.2) State and Local Income Taxes (net of Federal Benefit) 1.0 0.8 3.8 Impact of Merger (2.7) — — Impact of Corporate Conversion — — 0.9 Impact of Foreign Taxes (net of Foreign Tax Credit) 0.6 0.3 2.3 Impact of Equity-Based Compensation (0.1) 0.5 (1.2) Other — — 1.1 Effective Income Tax Rate 9.5 % 12.2 % 15.7 %
Schedule of Deferred Tax Assets and Liabilities	The Company’s deferred tax assets and liabilities in the consolidated statements of financial condition consist of the following: As of December 31, 2022 2021 Deferred Tax Assets: Depreciation and amortization $ 450,747 $ 507,594 Net operating loss carryforwards 150 1,414 Deferred Revenue 4,863 5,981 Equity-based compensation 76,762 62,618 Basis difference in investments 65,473 — Other 39,415 39,805 Total Deferred Tax Assets 637,410 617,412 Deferred Tax Liabilities: Unrealized gains from investments — 192,538 Other 3,750 742 Total Deferred Tax Liabilities 3,750 193,280 Total Deferred Tax Assets, Net $ 633,660 $ 424,132
Schedule of Aggregate Unrecognized Tax Benefits	Below is a tabular roll forward of the beginning and ending aggregate unrecognized tax benefits: For the Years Ended December 31, 2022 2021 2020 Balance at beginning of period $ — $ — $ — Increases based on tax positions taken in the prior years 14,700 — — Balance at end of period $ 14,700 $ — $ —
Impact to the Deferred Tax Asset, Tax Receivable Agreement Liability and Additional Paid in Capital	After the Mergers, the Former Managing Partners and Contributing Partners no longer own AOG Units. Therefore, there were no new exchanges subject to the tax receivable agreement during the year ended December 31, 2022. The table below presents the impact to the deferred tax asset, tax receivable agreement liability and additional paid in capital related to the exchange of AOG Units for Class A shares for the year ended December 31, 2021. Exchange of AOG Units Increase in Deferred Tax Asset Increase in Tax Receivable Agreement Liability Increase to Additional Paid In Capital For the Year Ended December 31, 2021 $ 346,896 $ 287,917 $ 58,979

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Summary of Debt	Debt consisted of the following: As of December 31, 2022 As of December 31, 2021 Maturity Date Outstanding Fair Value Outstanding Fair Value 4.00% 2024 Senior Notes (1)(2) May 30, 2024 $ 499,122 $ 485,616 (4) $ 498,469 $ 530,052 (4) 4.40% 2026 Senior Notes (1)(2) May 27, 2026 498,243 475,629 (4) 497,730 553,055 (4) 4.87% 2029 Senior Notes (1)(2) February 15, 2029 674,816 638,649 (4) 674,786 777,703 (4) 2.65% 2030 Senior Notes (1)(2) June 5, 2030 495,524 406,787 (4) 494,928 506,094 (4) 4.77% 2039 Senior Secured Guaranteed Notes (1)(2) — — (5) 317,985 369,041 (3) 5.00% 2048 Senior Notes (1)(2) March 15, 2048 296,959 261,675 (4) 296,757 397,191 (4) 4.95% 2050 Subordinated Notes (1)(2) January 14, 2050 296,714 252,483 (4) 296,675 308,687 (4) 1.70% Secured Borrowing II (1) April 15, 2032 18,159 17,614 (4) 19,334 19,239 (6) 1.30% 2016 AMI Term Facility I (1) January 15, 2025 18,052 18,028 (3) 19,186 19,186 (6) 1.40% 2016 AMI Term Facility II (1) July 23, 2023 16,528 16,510 (3) 18,546 18,546 (6) Total Debt $ 2,814,117 $ 2,572,991 $ 3,134,396 $ 3,498,794 (1) Interest rate is calculated as weighted average annualized. (2) Includes amortization of note discount, as applicable, totaling $15.8 million and $25.1 million as of December 31, 2022 and December 31, 2021, respectively. Outstanding balance is presented net of unamortized debt issuance costs. (3) Fair value is based on a discounted cash flow method. These notes are classified as a Level III liability within the fair value hierarchy. (4) Fair value is based on obtained broker quotes. These notes are classified as a Level II liability within 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 external pricing services. (5) There is no outstanding balance as of December 31, 2022. These notes were transferred to a VIE consolidated by Athene during the three months ended March 31, 2022. (6) Fair value is based on obtained broker quotes. These notes are classified as a Level III liability within 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 external pricing services. For instances where broker quotes are not available, a discounted cash flow method is used to obtain a fair value.
Schedule of Credit Facilities	The following table represents the Company’s credit facilities as of December 31, 2022: Instrument/Facility Borrowing Date Maturity Date Administrative Agent Key terms 2022 AMH credit facility N/A October 12, 2027 Citibank, N.A. The commitment fee on the $1.0 billion undrawn 2022 AMH credit facility as of December 31, 2022 was 0.08%.
Schedule of Interest Expense	The following table presents the interest expense incurred related to the Company’s debt: For the Years Ended December 31, 2022 2021 2020 Total Interest Expense (1) $ 130,509 $ 139,090 133,239 (1) Debt issuance costs incurred are amortized into interest expense over the term of the debt arrangement, as applicable. The following table presents the revenues earned in aggregate from Athene and Athora: For the Years Ended December 31, 2022 2021 2020 Revenues earned in aggregate from Athene, Athora and AAA investments, net (1) $ 1,314,949 $ 1,117,571 $ 794,976 (1) Consisting of management fees, sub-advisory fees, and performance revenues from Athene and Athora, as applicable.
Schedule of Contractual Maturities For The Company's Debt Arrangements	The table below presents the contractual maturities for the Company's debt arrangements as of December 31, 2022: 2023 2024-2025 2026-2027 2028 and Thereafter Total 2024 Senior Notes $ — $ 500,000 $ — $ — $ 500,000 2026 Senior Notes — — 500,000 — 500,000 2029 Senior Notes — — — 675,000 675,000 2030 Senior Notes — — — 500,000 500,000 2048 Senior Notes — — — 300,000 300,000 2050 Subordinated Notes — — — 300,000 300,000 Secured Borrowing II — — — 18,159 18,159 2016 AMI Term Facility I — 18,052 — — 18,052 2016 AMI Term Facility II 16,528 — — — 16,528 Total Obligations as of December 31, 2022 $ 16,528 $ 518,052 $ 500,000 $ 1,793,159 $ 2,827,739

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation Arrangement By Share-Based Payment Award, Weighted Average Discounts	The following table summarizes the weighted average discounts for Plan Grants, Bonus Grants and Performance Grants. Years ended December 31, 2022 2021 2020 Plan Grants: Discount for the lack of distributions until vested (1) 0.2 % — % 0.1 % Marketability discount for transfer restrictions (2) 10.0 % 12.7 % 9.4 % Bonus Grants: Marketability discount for transfer restrictions (2) 3.5 % 3.5 % 3.0 % Performance Grants: Discount for the lack of distributions until vested (1) 1.3 % 7.3 % 8.7 % Marketability discount for transfer restrictions (2) 7.6 % 5.6 % 9.2 % (1) Based on the present value of a growing annuity calculation. (2) Based on the Finnerty Model calculation.
Summary of RSU Activity	The following table summarizes all RSU activity for the current period: Unvested Weighted Average Grant Date Fair Value Vested Total Number of RSUs Outstanding Balance at January 1, 2022 — $ — — — RSUs assumed in the Mergers 15,428,416 51.86 15,976,551 31,404,967 Granted 7,678,302 59.66 — 7,678,302 Forfeited (446,499) 54.49 (429) (446,928) Vested (5,642,440) 47.17 5,642,440 — Issued — — (6,924,079) (6,924,079) Balance at December 31, 2022 17,017,779 $ 56.91 14,694,483 31,712,262
Summary of Restricted Share Activity	The following table summarizes the restricted share award act ivity: Unvested Weighted Average Grant Date Fair Value Vested Total Number of RS Outstanding Balance at January 1, 2022 1,470,001 $ 63.73 1,037,738 2,507,739 Granted 546,766 62.83 474,922 1,021,688 Forfeited (12,883) 66.97 — (12,883) Vested (845,174) 60.04 845,174 — Issued (1) — 65.62 (1,882,912) (1,882,912) Balance at December 31, 2022 1,158,710 $ 65.96 474,922 1,633,632 (1) Refers to issued shares that became freely transferable in 2022.

EQUITY (Tables)

EQUITY (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Net Income (Loss) 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 Years Ended December 31, 2022 2021 2020 Net income attributable to non-controlling interests in consolidated entities: Interest in management companies and a co-investment vehicle (1) $ 6,801 $ 6,138 $ 3,386 Other consolidated entities 335,720 411,554 114,992 Net income attributable to non-controlling interests in consolidated entities $ 342,521 $ 417,692 $ 118,378 Net income attributable to non-controlling interests in the Apollo Operating Group: Net income $ 1,994,320 $ 4,267,895 $ 466,802 Net income attributable to non-controlling interests in consolidated entities (342,521) (417,692) (118,378) Net income after non-controlling interests in consolidated entities 1,651,799 3,850,203 348,424 Adjustments: Income tax provision (2) 209,920 594,379 86,966 NYC UBT and foreign tax benefit (3) (35,579) (32,516) (26,549) Net income in non-Apollo Operating Group entities 45,731 (5,385) (13,571) Series A Preferred share dividends (17,531) (17,531) (17,531) Series B Preferred share dividends (19,125) (19,125) (19,125) Total adjustments 183,416 519,822 10,190 Net income after adjustments 1,835,215 4,370,025 358,614 Weighted average ownership percentage of Apollo Operating Group 42.6 % 45.1 % 47.1 % Net income attributable to non-controlling interests in Apollo Operating Group $ 717,932 $ 2,011,712 $ 191,810 Net income attributable to non-controlling interests $ 1,060,453 $ 2,429,404 $ 310,188 Other comprehensive loss attributable to non-controlling interests (24,196) (28,730) 38,113 Comprehensive income attributable to non-controlling interests $ 1,036,257 $ 2,400,674 $ 348,301 (1) Reflects the remaining interest held by certain individuals who receive an allocation of income from certain of the yield funds managed by Apollo. (2) Reflects all taxes recorded in our consolidated statements of operations. Of this amount, U.S. federal, state, and local corporate income taxes attributable to the Company are added back to income of the Apollo Operating Group before calculating non-controlling interests as the income allocable to the Apollo Operating Group is not subject to such taxes. (3) Reflects NYC UBT and foreign taxes that are attributable to the Apollo Operating Group and its subsidiaries related to its operations in the U.S. as partnerships and in non-U.S. jurisdictions as corporations. As such, these amounts are considered in the income attributable to the Apollo Operating Group.
Activities Associated with Non-controlling Interests	The table below presents the activities associated with the redeemable non-controlling interests. For the Years Ended December 31, 2022 2021 Balance at beginning of period $ 1,770,034 $ 782,702 Redemption of non-controlling interests (776,272) — Deconsolidation of SPAC (39,588) — Net issuances of redeemable non-controlling interests 10,544 950,103 Accretion of redeemable non-controlling interests 67,196 37,229 Balance at end of period $ 1,031,914 $ 1,770,034

RELATED PARTY TRANSACTIONS AN_2

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Due from related parties and due to related parties are comprised of the following: As of As of Due from Related Parties: Due from funds (1) $ 333,165 $ 315,875 Due from employees and former employees 89,671 106,755 Due from portfolio companies 143,975 66,960 Due from parent 150,555 — Incentive fees receivable 8,887 4,236 Total Due from Related Parties $ 726,253 $ 493,826 Due to Related Parties: Due to Former Managing Partners and Contributing Partners (2) $ 874,406 $ 1,118,272 Due to parent 579,354 — Due to funds 123,734 104,130 Total Due to Related Parties $ 1,577,494 $ 1,222,402 (1) Includes $43.4 million and $47.8 million as of December 31, 2022 and December 31, 2021, respectively, related to a receivable from a fund in connection with the Company’s sale of a platform investment to such fund. The amount is payable to the Company over five years and is held at fair value. (2) Includes $350.5 million and $569.6 million as of December 31, 2022 and December 31, 2021, respectively, related to the purchase of limited partnership interests, payable in equal installments through December 31, 2024.
Sub-Allocation Fees Schedule	The amended fee agreement provides for a monthly fee to be payable by Athene to the Company in arrears, with retroactive effect to the month beginning on January 1, 2022, in an amount equal to the following, to the extent not otherwise payable to the Company pursuant to any one or more investment management or sub-advisory agreements or arrangements: (i) The Company, through its consolidated subsidiary Apollo Insurance Solutions Group LP, or ISG, earns a base management fee of 0.225% per year on the aggregate book value of substantially all of the assets in substantially all of the accounts of or relating to Athene (collectively, the “Athene Accounts”) up to $103.4 billion (the “Backbook Value”) and 0.150% per year on all assets in excess of $103.4 billion (the “Incremental Value”), respectively; plus (ii) with respect to each asset in an Athene Account, subject to certain exceptions, that is managed by the Company and that belongs to a specified asset class tier (“core,” “core plus,” “yield,” and “high alpha”), a sub-allocation fee as follows: As of Sub-Allocation Fees: Core Assets (1) 0.065 % Core Plus Assets (2) 0.130 % Yield Assets (3) 0.375 % High Alpha Assets (4) 0.700 % Other Assets (5) — % (1) Core assets include public investment grade corporate bonds, municipal securities, agency residential or commercial mortgage backed securities and obligations of any governmental agency or government sponsored entity that is not expressly backed by the U.S. government. (2) Core plus assets include private investment grade corporate bonds, fixed rate first lien commercial mortgage loans and obligations issued or assumed by a financial institution (such an institution, a “financial issuer”) and determined by Apollo to be “Tier 2 Capital” under the Basel III recommendations developed by the Basel Committee on Banking Supervision (or any successor to such recommendations). (3) Yield assets include non-agency residential mortgage-backed securities, investment grade collateralized loan obligations, certain asset-backed securities, commercial mortgage-backed securities, emerging market investments, below investment grade corporate bonds, subordinated debt obligations, hybrid securities or surplus notes issued or assumed by a financial issuer, as rated preferred equity, residential mortgage loans, bank loans, investment grade infrastructure debt and certain floating rate commercial mortgage loans. (4) High alpha assets include subordinated commercial mortgage loans, below investment grade collateralized loan obligations, unrated preferred equity, debt obligations originated by MidCap, below investment grade infrastructure debt, certain loans originated directly by Apollo and agency mortgage derivatives. (5) Other Assets include cash, treasuries, equities and alternatives. With respect to equities and alternatives, Apollo earns performance revenues of 0% to 20%.
Interest Income and Interest Expense	The following table presents the interest expense incurred related to the Company’s debt: For the Years Ended December 31, 2022 2021 2020 Total Interest Expense (1) $ 130,509 $ 139,090 133,239 (1) Debt issuance costs incurred are amortized into interest expense over the term of the debt arrangement, as applicable. The following table presents the revenues earned in aggregate from Athene and Athora: For the Years Ended December 31, 2022 2021 2020 Revenues earned in aggregate from Athene, Athora and AAA investments, net (1) $ 1,314,949 $ 1,117,571 $ 794,976 (1) Consisting of management fees, sub-advisory fees, and performance revenues from Athene and Athora, as applicable.
Schedule of Financial Information of SPACs	The tables below present the financial information of these SPACs in aggregate: As of As of Assets: Cash and cash equivalents $ 439 $ 1,796 Restricted cash and cash equivalents 1,045,976 690,205 U.S. Treasury securities, at fair value — 1,162,299 Other assets 1,651 2,627 Total Assets $ 1,048,066 $ 1,856,927 Liabilities, Redeemable non-controlling interests and Stockholders’ Equity Liabilities: Accounts payable and accrued expenses $ 3,446 $ 2,361 Due to related parties 8,300 20,146 Other liabilities 42,507 143,778 Total Liabilities 54,253 166,285 Redeemable non-controlling interests: Redeemable non-controlling interests 1,016,886 1,762,282 Stockholders’ Equity: Additional paid in capital (72,117) (98,369) Retained earnings 49,044 26,729 Total Stockholders’ Equity (23,073) (71,640) Total Liabilities, Redeemable non-controlling interests and Stockholders’ Equity $ 1,048,066 $ 1,856,927 For the Years Ended December 31, 2022 2021 2020 Expenses: Interest expense $ 33 $ 8 $ — General, administrative and other 7,445 19,015 583 Total Expenses 7,478 19,023 583 Other Income: Net gains from investment activities 19,617 3,446 35 Interest income 12,966 545 140 Other income (loss), net (400) (520) — Total Other Income 32,183 3,471 175 Income (loss) before income tax provision 24,705 (15,552) (408) Income tax provision (993) — — Net Income (Loss) Attributable to Apollo Asset Management, Inc. 23,712 (15,552) (408)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Summary of Fixed and Determinable Payments	As of December 31, 2022, fixed and determinable payments due in connection with these obligations were as follows: 2023 2024 - 2025 2026 - 2027 2028 and Thereafter Total Other long-term obligations $ 13,979 $ 675 $ — $ — $ 14,654

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Schedule of Financial Data for Reportable Segments	The following tables present financial data for the Company’s reportable segments. For the Years Ended December 31, 2022 2021 2020 Asset Management Management Fees $ 2,134,497 $ 1,878,210 $ 1,647,964 Capital solutions fees and other, net 413,524 298,108 251,520 Fee-related performance fees 71,483 56,865 9,836 Fee related compensation (753,481) (653,321) (532,556) Other operating expenses (454,933) (313,146) (275,066) Fee Related Earnings (FRE) 1,411,090 1,266,716 1,101,698 Principal Investing Realized performance fees 595,260 1,589,074 280,923 Realized investment income 543,139 437,256 29,290 Principal investing compensation (580,812) (876,442) (222,438) Other operating expenses (25,190) (42,347) (52,645) Principal Investing Income (PII) 532,397 1,107,541 35,130 Adjusted Segment Income 1,943,487 2,374,257 1,136,828 Segment Assets: Asset Management $ 2,167,599 Principal Investing 8,235,326 Total Assets (1) $ 10,402,925 (1) Refer below for a reconciliation of total assets for Apollo’s total reportable segments to total consolidated assets.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table presents the reconciliation of income before income tax provision reported in the consolidated statements of operations to Adjusted Segment Income: For the Years Ended December 31, 2022 2021 2020 Income before income tax provision $ 2,204,240 $ 4,862,274 $ 553,768 Equity-based profit sharing expense and other (1) 276,177 145,754 129,084 Equity-based compensation 184,613 79,777 67,852 Transaction-related charges (2) (36,912) 34,591 39,186 Merger-related transaction and integration costs (3) 68,072 66,848 — Charges associated with corporate conversion — — 3,893 (Gains) losses from changes in tax receivable agreement liability 26,250 (9,609) (12,426) Net income attributable to non-controlling interests in consolidated entities (352,534) (417,692) (118,378) Unrealized performance fees (2,085) (1,464,502) (34,796) Unrealized profit sharing expense 20,042 648,882 33,350 One-time equity-based compensation and other charges (4) — 949,152 — Net interest expense 91,597 132,834 117,348 Unrealized principal investment income (loss) 175,963 (221,645) (62,485) Unrealized net (gains) losses from investment activities and other (711,936) (2,432,407) 420,432 Adjusted Segment Income $ 1,943,487 $ 2,374,257 $ 1,136,828 (1) Equity-based profit sharing expense and other includes certain profit sharing arrangements in which a portion of performance fees distributed to the general partner are required to be used by employees of Apollo to purchase restricted shares of common stock or is delivered in the form of RSUs, which are granted under AGM’s Equity Plan. Equity-based profit sharing expense and other also includes performance grants which are tied to the Company’s receipt of performance fees, within prescribed periods, sufficient to cover the associated equity-based compensation expense. (2) Transaction-related charges include contingent consideration, equity-based compensation charges and the amortization of intangible assets and certain other charges associated with acquisitions, and restructuring charges. (3) Merger-related transaction and integration costs includes advisory services, technology integration, equity-based compensation charges and other costs associated with the Mergers. (4) Includes one-time equity-based compensation expense and associated taxes related to the Company’s compensation reset.
Reconciliation of Assets from Segment to Consolidated	The following table presents the reconciliation of the Company’s total reportable segment assets to total assets: As of As of Total reportable segment assets $ 10,402,925 $ 13,573,400 Adjustments (1) 3,391,022 16,928,494 Total assets $ 13,793,947 $ 30,501,894 (1) Represents the addition of assets of consolidated funds and VIEs and consolidation elimination adjustments.

ORGANIZATION (Details)

ORGANIZATION (Details)		12 Months Ended
	Jan. 01, 2022 vote	Dec. 31, 2022 segment investing_strategy
Entity Information [Line Items]
Number of segments | segment		2
Number of investing strategies | investing_strategy		3
Number of votes | vote	1
Intermediate Holding Companies
Entity Information [Line Items]
Economic interest percentage		57.40%
Apollo Global Management
Entity Information [Line Items]
Economic interest percentage		42.60%

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash and Cash Equivalents and Restricted Cash and Cash Equivalents (Details) $ in Millions	Dec. 31, 2022 USD ($)
Initial Business Combination Or Redemption Of Public Shares, ASPG II Trust Agreement
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Restricted cash	$ 698
Initial Business Combination Or Redemption Of Public Shares, Acropolis Trust Agreement
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Restricted cash	$ 348

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Goodwill (Details)	12 Months Ended
	Dec. 31, 2022 USD ($)
Accounting Policies [Abstract]
Annual goodwill impairment	$ 0

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Deferred Revenue (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Accounting Policies [Abstract]
Deferred revenue recognized	$ 114

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - 401(k) Savings Plan (Details)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Percent of eligible employee contributions	50%
Percent of the eligible employees’ compensation	3%
Service period	3 years

GOODWILL - Narrative (Details)

GOODWILL - Narrative (Details)	2 Months Ended	12 Months Ended
	May 03, 2022 USD ($) business_acquired	Dec. 31, 2022 USD ($) segment	Mar. 01, 2022 USD ($)	Dec. 31, 2021 USD ($)
Goodwill [Line Items]
Number of segments | segment		2
Annual goodwill impairment		$ 0
Goodwill		$ 263,744,000		$ 116,958,000
Griffin Capital
Goodwill [Line Items]
Number of businesses acquired | business_acquired	2
Goodwill	$ 133,600,000		$ 13,100,000

GOODWILL - Apollo_s Goodwill by

GOODWILL - Apollo’s Goodwill by Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Line Items]
Goodwill	$ 263,744	$ 116,958
Asset Management
Goodwill [Line Items]
Goodwill	231,562	84,776
Principal Investing
Goodwill [Line Items]
Goodwill	$ 32,182	$ 32,182

INVESTMENTS - Apollo's Investme

INVESTMENTS - Apollo's Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Investments, at fair value	$ 1,321,220	$ 5,588,992
Equity method investments	978,923	1,345,750
Performance allocations	2,635,180	2,731,733	$ 1,624,156
U.S. Treasury securities, at fair value	708,844	1,687,105
Total Investments	$ 5,644,167	$ 11,353,580

INVESTMENTS - Summarized Financ

INVESTMENTS - Summarized Financial Information of Equity Method Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statements of Financial Condition
Investments	$ 5,644,167	$ 11,353,580
Total assets	13,793,947	30,501,894
Liabilities	9,295,046	18,537,494
Equity	3,466,987	10,194,366	$ 5,513,263	$ 3,038,127
Statements of Operations
Total Revenues	3,551,356	5,951,598	2,354,019
Expenses	2,721,757	4,114,230	1,577,964
Investment income	800,134	3,699,209	392,181
Net income (loss)	1,994,320	4,267,895	466,802
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Statements of Financial Condition
Investments	192,697,767	167,822,116
Total assets	213,480,443	179,261,843
Liabilities	115,817,931	103,549,788
Equity	97,662,512	75,712,055
Statements of Operations
Total Revenues	7,647,558	5,248,925	7,283,270
Expenses	7,629,387	4,935,441	6,075,122
Investment income	18,171	313,484	1,208,148
Net Realized and Unrealized Gain (Loss)	2,687,584	15,881,825	2,376,496
Net income (loss)	2,705,755	16,195,309	3,584,644
Athene Holding
Statements of Financial Condition
Investments		177,567,000
Total assets		235,149,000
Liabilities		212,968,000
Equity		22,181,000
Statements of Operations
Expenses	2,504,000	22,134,000	12,558,000
Net income (loss)	$ (2,366,000)	$ 3,800,000	$ 1,921,000

INVESTMENTS - Summarized Fina_2

INVESTMENTS - Summarized Financial Information of Athene Holding (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Benefits and expenses	$ 2,721,757	$ 4,114,230	$ 1,577,964
Income (loss) before income taxes	2,204,240	4,862,274	553,768
Income tax expense (benefit)	209,920	594,379	86,966
Net income (loss)	1,994,320	4,267,895	466,802
Less: Net income (loss) attributable to non-controlling interests	1,060,453	2,429,404	310,188
Net income (loss) available to Athene Holding Ltd. shareholders	933,867	1,838,491	156,614
Net income (loss) available to Athene Holding Ltd. common shareholders	897,211	1,801,835	119,958
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Benefits and expenses	7,629,387	4,935,441	6,075,122
Net income (loss)	2,705,755	16,195,309	3,584,644
Athene Holding
Schedule of Equity Method Investments [Line Items]
Revenues	(269,000)	26,320,000	14,764,000
Benefits and expenses	2,504,000	22,134,000	12,558,000
Income (loss) before income taxes	(2,773,000)	4,186,000	2,206,000
Income tax expense (benefit)	(407,000)	386,000	285,000
Net income (loss)	(2,366,000)	3,800,000	1,921,000
Less: Net income (loss) attributable to non-controlling interests	(883,000)	(59,000)	380,000
Net income (loss) available to Athene Holding Ltd. shareholders	(1,483,000)	3,859,000	1,541,000
Less: Preferred stock dividends	35,000	141,000	95,000
Net income (loss) available to Athene Holding Ltd. common shareholders	$ (1,518,000)	$ 3,718,000	$ 1,446,000

INVESTMENTS - Summary of Net Ga

INVESTMENTS - Summary of Net Gains (Losses) from Investment Activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Realized gains (losses) on sales of investments, net	$ 199,372	$ (238)	$ 2,081
Net change in unrealized gains (losses) due to changes in fair value	735,392	2,611,141	(457,568)
Net gains (losses) from investment activities	$ 934,764	$ 2,610,903	$ (455,487)

INVESTMENTS - Performance Alloc

INVESTMENTS - Performance Allocations Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Performance Allocation [Roll Forward]
Performance allocations beginning balance	$ 2,731,733	$ 1,624,156
Change in fair value of funds	676,447	2,768,435
Fund distributions to the Company	(773,000)	(1,660,858)
Performance allocations ending balance	$ 2,635,180	$ 2,731,733

PROFIT SHARING PAYABLE - Rollfo

PROFIT SHARING PAYABLE - Rollforward Summary of Profit Sharing (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Profit Sharing Payable Rollforward [Roll Forward]
Profit sharing payable, beginning balance	$ 1,444,652	$ 842,677
Profit sharing expense	533,012	1,469,800
Payments/other	(565,213)	(867,825)
Profit sharing payable, ending balance	$ 1,412,451	$ 1,444,652

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of days trade is open with VIE	60 days
Fair value of collateral received	$ 1,522
Fair value of collateral rehypothecated	$ 1,522

VARIABLE INTEREST ENTITIES - Sc

VARIABLE INTEREST ENTITIES - Schedule of Net Gains from Investment Activities of Consolidated Variable Interest Entities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net gains from investment activities	$ 158,785	$ 525,740	$ (22,451)
Net gains (losses) from debt	10,138	54,638	27,118
Interest and other income	263,753	745,590	440,425
Interest and other expenses	(27,587)	(768,679)	(247,723)
Net gains from investment activities of consolidated variable interest entities	$ 405,089	$ 557,289	$ 197,369

VARIABLE INTEREST ENTITIES - Pr

VARIABLE INTEREST ENTITIES - Principal Provisions of Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Principal Outstanding	$ 2,827,739
Investments of Consolidated VIEs
Debt Instrument [Line Items]
Principal Outstanding	686,473	$ 8,062,808
Senior Secured Notes | Investments of Consolidated VIEs
Debt Instrument [Line Items]
Principal Outstanding	0	$ 7,431,467
Weighted Average Interest Rate		3.16%
Weighted Average Remaining Maturity in Years		15 years 6 months
Subordinated Notes | Investments of Consolidated VIEs
Debt Instrument [Line Items]
Principal Outstanding	0	$ 613,192
Weighted Average Remaining Maturity in Years		14 years 6 months
Revolving Credit Facility | Investments of Consolidated VIEs
Debt Instrument [Line Items]
Principal Outstanding	$ 686,473	$ 0
Weighted Average Interest Rate	6.22%
Weighted Average Remaining Maturity in Years	29 days
Secured Borrowings | Investments of Consolidated VIEs
Debt Instrument [Line Items]
Principal Outstanding	$ 0	$ 18,149
Weighted Average Interest Rate		2.33%
Weighted Average Remaining Maturity in Years		4 months 24 days

VARIABLE INTEREST ENTITIES - Re

VARIABLE INTEREST ENTITIES - Repurchase Agreements (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Agreements to repurchase, gross carrying value	$ 1,254,109
Loans backed by residential real estate | Residential Real Estate
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Agreements to repurchase, gross carrying value	770,190
Loans backed by commercial real estate | Commercial Real Estate
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Agreements to repurchase, gross carrying value	483,919
Overnight and continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Agreements to repurchase, gross carrying value	0
Less than 30 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Agreements to repurchase, gross carrying value	0
30-90 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Agreements to repurchase, gross carrying value	0
91 days to 364 days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Agreements to repurchase, gross carrying value	1,254,109
1 year and greater
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Agreements to repurchase, gross carrying value	$ 0

VARIABLE INTEREST ENTITIES - Va

VARIABLE INTEREST ENTITIES - Variable Interest Entities Which are Not Consolidated (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Apollo Exposure	$ 343,383	$ 240,871

FAIR VALUE MEASUREMENTS OF FI_3

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS - Valuation of Financial Assets and Liabilities by the Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 1,200,735	$ 917,183
Restricted cash and cash equivalents	1,048,129	707,885
Investments
Derivative assets	15,492	7,436
Total Assets	$ 6,818,295	24,156,753
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets
Liabilities
Other liabilities of VIEs, at fair value	$ 1,932	47,961
Derivative liabilities	56,674	1,520
Total Liabilities	113,646	8,152,648
Cash and cash equivalents	1,200,735	917,183	$ 1,555,517
Restricted cash and cash equivalents	1,048,129	707,885	17,708
U.S. Treasury securities, at fair value	708,844	1,687,105
Performance allocations	$ 2,635,180	2,731,733	1,624,156
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities
Sale of Investment | Due from/to credit funds
Investments
Due from related parties	$ 43,413	47,835
VIE, Primary Beneficiary
Assets
Cash and cash equivalents	109,578	463,266
Investments
Investments, at fair value	2,370,884	14,737,051
Liabilities
Debt of VIEs		7,942,508
Other liabilities of VIEs, at fair value	24	34,758
Cash and cash equivalents	109,578	463,266	$ 893,306
VIE, Primary Beneficiary | APSG I, APSGII and Acropolis
Liabilities
Cash and cash equivalents	439	1,796
Restricted cash and cash equivalents	1,045,976	690,205
U.S. Treasury securities, at fair value	0	1,162,299
U.S. Treasury securities, at fair value
Assets
U.S. Treasury securities	708,844	1,687,105
Total investments
Investments
Investments, at fair value	1,321,220	5,588,992
Total investments | VIE, Primary Beneficiary
Investments
Investments of VIEs, at fair value	2,370,884	14,737,051
Investment in Athene Holding
Investments
Investments, at fair value		4,548,048
Other Investments
Investments
Investments, at fair value		1,040,944
Contingent Consideration Obligation
Liabilities
Contingent consideration obligations	55,016	125,901
Level I
Assets
Cash and cash equivalents	1,200,735	917,183
Restricted cash and cash equivalents	1,048,129	707,885
Investments
Derivative assets	0	0
Total Assets	3,257,281	8,378,212
Liabilities
Other liabilities of VIEs, at fair value	1,932	47,961
Derivative liabilities	0	0
Total Liabilities	1,932	47,961
Level I | Sale of Investment | Due from/to credit funds
Investments
Due from related parties	0	0
Level I | VIE, Primary Beneficiary
Assets
Cash and cash equivalents	109,578	463,266
Liabilities
Debt of VIEs		0
Other liabilities of VIEs, at fair value	0	0
Level I | U.S. Treasury securities, at fair value
Assets
U.S. Treasury securities	708,844	1,687,105
Level I | Total investments
Investments
Investments, at fair value	189,995	4,596,541
Level I | Total investments | VIE, Primary Beneficiary
Investments
Investments of VIEs, at fair value	0	6,232
Level I | Investment in Athene Holding
Investments
Investments, at fair value		4,548,048
Level I | Other Investments
Investments
Investments, at fair value		48,493
Level I | Contingent Consideration Obligation
Liabilities
Contingent consideration obligations	0	0
Level II
Assets
Cash and cash equivalents	0	0
Restricted cash and cash equivalents	0	0
Investments
Derivative assets	0	7,436
Total Assets	1,576,208	1,109,124
Liabilities
Other liabilities of VIEs, at fair value	0	0
Derivative liabilities	56,674	1,520
Total Liabilities	56,698	450,660
Level II | Sale of Investment | Due from/to credit funds
Investments
Due from related parties	0	0
Level II | VIE, Primary Beneficiary
Assets
Cash and cash equivalents	0	0
Liabilities
Debt of VIEs		446,029
Other liabilities of VIEs, at fair value	24	3,111
Level II | U.S. Treasury securities, at fair value
Assets
U.S. Treasury securities	0	0
Level II | Total investments
Investments
Investments, at fair value	38,729	46,267
Level II | Total investments | VIE, Primary Beneficiary
Investments
Investments of VIEs, at fair value	1,537,479	1,055,421
Level II | Investment in Athene Holding
Investments
Investments, at fair value		0
Level II | Other Investments
Investments
Investments, at fair value		46,267
Level II | Contingent Consideration Obligation
Liabilities
Contingent consideration obligations	0	0
Level III
Assets
Cash and cash equivalents	0	0
Restricted cash and cash equivalents	0	0
Investments
Derivative assets	15,492	0
Total Assets	1,870,454	14,181,822
Liabilities
Other liabilities of VIEs, at fair value	0	0
Derivative liabilities	0	0
Total Liabilities	55,016	7,653,470
Level III | Sale of Investment | Due from/to credit funds
Investments
Due from related parties	43,413	47,835
Level III | VIE, Primary Beneficiary
Assets
Cash and cash equivalents	0	0
Liabilities
Debt of VIEs		7,496,479
Other liabilities of VIEs, at fair value	0	31,090
Level III | U.S. Treasury securities, at fair value
Assets
U.S. Treasury securities	0	0
Level III | Total investments
Investments
Investments, at fair value	1,084,349	946,184
Level III | Total investments | VIE, Primary Beneficiary
Investments
Investments of VIEs, at fair value	727,200	13,187,803
Level III | Investment in Athene Holding
Investments
Investments, at fair value		0
Level III | Other Investments
Investments
Investments, at fair value		946,184
Liabilities
Performance allocations	198,100	175,800
Level III | Contingent Consideration Obligation
Liabilities
Contingent consideration obligations	55,016	125,901
NAV
Assets
Cash and cash equivalents	0	0
Restricted cash and cash equivalents	0	0
Investments
Derivative assets	0	0
Total Assets	114,352	487,595
Liabilities
Other liabilities of VIEs, at fair value	0	0
Derivative liabilities	0	0
Total Liabilities	0	557
NAV | Sale of Investment | Due from/to credit funds
Investments
Due from related parties	0	0
NAV | VIE, Primary Beneficiary
Assets
Cash and cash equivalents	0	0
Liabilities
Debt of VIEs		0
Other liabilities of VIEs, at fair value	0	557
NAV | U.S. Treasury securities, at fair value
Assets
U.S. Treasury securities	0	0
NAV | Total investments
Investments
Investments, at fair value	8,147	0
NAV | Total investments | VIE, Primary Beneficiary
Investments
Investments of VIEs, at fair value	106,205	487,595
NAV | Investment in Athene Holding
Investments
Investments, at fair value		0
NAV | Other Investments
Investments
Investments, at fair value		0
NAV | Contingent Consideration Obligation
Liabilities
Contingent consideration obligations	$ 0	$ 0

FAIR VALUE MEASUREMENTS OF FI_4

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS - Changes in Fair Value in Financial Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	$ 14,133,987	$ 11,332,752
Net transfer in (out) due to consolidation (deconsolidation)	(12,605,777)	(230,541)
Purchases	3,344,024	4,172,093
Sale of investments/distributions	(3,318,027)	(1,448,092)
Net realized gains (losses)	77,397	54,215
Changes in net unrealized gains (losses)	211,490	526,299
Cumulative translation adjustment	(45,555)	(44,356)
Transfer into Level III	39,469	45,392
Transfer out of Level III	(9,967)	(273,775)
Balance, End of Period	$ 1,827,041	14,133,987
Fair Value, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement Of Income, Extensible List, Not Disclosed Flag	Net realized gains (losses)
Investments of Consolidated VIEs
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	$ 13,187,803	10,962,980
Net transfer in (out) due to consolidation (deconsolidation)	(12,627,487)	(230,541)
Purchases	3,111,780	3,679,767
Sale of investments/distributions	(3,196,867)	(1,444,857)
Net realized gains (losses)	30,263	34,152
Changes in net unrealized gains (losses)	204,018	444,686
Cumulative translation adjustment	(10,808)	(31,717)
Transfer into Level III	38,465	44,686
Transfer out of Level III	(9,967)	(271,353)
Balance, End of Period	727,200	13,187,803
Change in net unrealized gains included in investment income (loss) related to investments still held at reporting date
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	$ 56,483	$ 81,613
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net gains (losses) from investment activities	Net gains (losses) from investment activities
Change in net unrealized gains included in investment income (loss) related to investments still held at reporting date | Investments of Consolidated VIEs
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	$ 0	$ 0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net gains (losses) from investment activities	Net gains (losses) from investment activities
Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to investments still held at reporting date
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	$ 17,261	$ 307,829
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net gains from investment activities of consolidated variable interest entities	Net gains from investment activities of consolidated variable interest entities
Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to investments still held at reporting date | Investments of Consolidated VIEs
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	$ 17,261	$ 307,829
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net gains from investment activities of consolidated variable interest entities	Net gains from investment activities of consolidated variable interest entities
Investments and Derivative Assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	$ 946,184
Net transfer in (out) due to consolidation (deconsolidation)	21,710
Purchases	232,244
Sale of investments/distributions	(121,160)
Net realized gains (losses)	47,134
Changes in net unrealized gains (losses)	7,472
Cumulative translation adjustment	(34,747)
Transfer into Level III	1,004
Transfer out of Level III	0
Balance, End of Period	1,099,841	$ 946,184
Investments and Derivative Assets | Change in net unrealized gains included in investment income (loss) related to investments still held at reporting date
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	$ 56,483
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net gains (losses) from investment activities	Net gains (losses) from investment activities
Investments and Derivative Assets | Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to investments still held at reporting date
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)	$ 0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net gains from investment activities of consolidated variable interest entities	Net gains from investment activities of consolidated variable interest entities
Other Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	$ 946,184	$ 369,772
Net transfer in (out) due to consolidation (deconsolidation)		0
Purchases		492,326
Sale of investments/distributions		(3,235)
Net realized gains (losses)		20,063
Changes in net unrealized gains (losses)		81,613
Cumulative translation adjustment		(12,639)
Transfer into Level III		706
Transfer out of Level III		(2,422)
Balance, End of Period		946,184
Other Investments | Change in net unrealized gains included in investment income (loss) related to investments still held at reporting date
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)		81,613
Other Investments | Change in net unrealized gains included in net gains from investment activities of consolidated VIEs related to investments still held at reporting date
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized gains (losses)		$ 0

FAIR VALUE MEASUREMENTS OF FI_5

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS - Changes in Fair Value in Financial Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	$ 7,653,470	$ 7,220,408
Transfer out due to deconsolidation	(7,057,668)
Issuances	1,276	705,726
Payments	(456,867)	(341,138)
Net realized (gains) losses	(480)	6,713
Changes in net unrealized (gains) losses	(73,895)	92,934
Cumulative translation adjustment	(10,820)	(31,626)
Transfer into Level III		453
Balance, End of Period	$ 55,016	7,653,470
Fair Value, Recurring Basis, Unobservable Input Reconciliation, Liability, Gain (Loss), Statement Of Income, Extensible List, Not Disclosed Flag	Net realized (gains) losses
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Compensation and benefits
Debt And Other Liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized (gains) losses		44,895
Contingent Consideration Obligations
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	$ 125,901	119,788
Transfer out due to deconsolidation	0
Issuances	0	0
Payments	(13,358)	(20,609)
Net realized (gains) losses	0	0
Changes in net unrealized (gains) losses	(57,527)	26,722
Cumulative translation adjustment	0	0
Transfer into Level III		0
Balance, End of Period	55,016	125,901
Contingent Consideration Obligations | Debt And Other Liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized (gains) losses		0
Debt and Other Liabilities of Consolidated VIEs | Investments of Consolidated VIEs
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, Beginning of Period	7,527,569	7,100,620
Transfer out due to deconsolidation	(7,057,668)
Issuances	1,276	705,726
Payments	(443,509)	(320,529)
Net realized (gains) losses	(480)	6,713
Changes in net unrealized (gains) losses	(16,368)	66,212
Cumulative translation adjustment	(10,820)	(31,626)
Transfer into Level III		453
Balance, End of Period	$ 0	7,527,569
Debt and Other Liabilities of Consolidated VIEs | Investments of Consolidated VIEs | Debt And Other Liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in net unrealized (gains) losses		$ 44,895

FAIR VALUE MEASUREMENTS OF FI_6

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS - Quantitative Inputs and Assumptions used for Financial Assets and Liabilities Categories (Details) $ in Thousands	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Financial Assets
Due from related parties	$ 726,253	$ 493,826
Derivative assets	15,492	7,436
Assets	1,827,041	14,133,987	$ 11,332,752
Financial Liabilities
Liabilities	55,016	7,653,470	7,220,408
Contingent Consideration Obligation | Discounted cash flow
Financial Liabilities
Liabilities	55,016	125,901
Investments of Consolidated VIEs
Financial Assets
Investments, at fair value	2,370,884	14,737,051
Assets	727,200	13,187,803	10,962,980
Investments of Consolidated VIEs | Secured loans
Financial Liabilities
Liabilities		4,311,348
Investments of Consolidated VIEs | Subordinated notes
Financial Liabilities
Liabilities		3,164,491
Investments of Consolidated VIEs | Participating equity
Financial Liabilities
Liabilities		20,640
Investments of Consolidated VIEs | Other liabilities
Financial Liabilities
Liabilities		31,090
Debt and Other Liabilities of Consolidated VIEs | Investments of Consolidated VIEs
Financial Liabilities
Liabilities	0	7,527,569	$ 7,100,620
Level III
Financial Assets
Derivative assets	15,492	0
Assets	1,870,454	14,181,822
Financial Liabilities
Liabilities	55,016	7,653,470
Level III | Embedded value
Financial Assets
Investments, at fair value	525,696
Level III | Discounted cash flow
Financial Assets
Investments, at fair value	128,368
Due from related parties	43,413
Level III | Adjusted transaction value
Financial Assets
Investments, at fair value	430,285
Level III | Option model
Financial Assets
Derivative assets	15,492
Level III | Other investments | Embedded value
Financial Assets
Investments, at fair value		516,221
Level III | Other investments | Discounted cash flow
Financial Assets
Investments, at fair value		169,625
Level III | Other investments | Adjusted transaction value
Financial Assets
Investments, at fair value		260,338
Level III | Investments of Consolidated VIEs
Financial Assets
Equity securities		4,144,661
Level III | Investments of Consolidated VIEs | Dividend discount model
Financial Assets
Equity securities	458,282
Level III | Investments of Consolidated VIEs | Bank loans
Financial Assets
Assets	243,703	4,569,873
Level III | Investments of Consolidated VIEs | Profit participating notes
Financial Assets
Assets		2,849,150
Level III | Investments of Consolidated VIEs | Real Assets
Financial Assets
Assets		511,648
Level III | Investments of Consolidated VIEs | Bonds
Financial Assets
Assets	25,065	50,885
Level III | Investments of Consolidated VIEs | Warrants
Financial Assets
Assets	$ 150
Level III | Investments of Consolidated VIEs | Other equity investments
Financial Assets
Assets		1,061,586
Level III | Discount rate | Discounted cash flow
Financial Assets
Due from related parties		$ 47,835
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Due from related parties	15%	16%
Level III | Discount rate | Minimum | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Investments, measurement input	0.089
Other investments, measurement input		14%
Level III | Discount rate | Minimum | Bank loans | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Bank loans, measurement input	0.064
Level III | Discount rate | Minimum | Contingent Consideration Obligation | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Contingent consideration obligation, measurement input	0.200
Level III | Discount rate | Maximum | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Investments, measurement input	0.528
Other investments, measurement input		52.80%
Level III | Discount rate | Maximum | Bank loans | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Bank loans, measurement input	0.327
Level III | Discount rate | Maximum | Contingent Consideration Obligation | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Contingent consideration obligation, measurement input	0.250
Level III | Discount rate | Weighted Average | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Investments, measurement input	0.287
Due from related parties	15%	16%
Level III | Discount rate | Weighted Average | Other investments | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Other investments, measurement input		26.40%
Level III | Discount rate | Weighted Average | Contingent Consideration Obligation | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Contingent consideration obligation, measurement input	0.236	0.185
Level III | Discount rate | Investments of Consolidated VIEs | Dividend discount model
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input	12.1	13.7
Level III | Discount rate | Investments of Consolidated VIEs | Bonds | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Bonds, measurement input	7.9
Level III | Discount rate | Investments of Consolidated VIEs | Warrants | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Warrants, measurement input	0.154
Level III | Discount rate | Investments of Consolidated VIEs | Participating equity | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input		0.150
Level III | Discount rate | Investments of Consolidated VIEs | Minimum | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input		0.030
Other equity investments, measurement input		0.118
Level III | Discount rate | Investments of Consolidated VIEs | Minimum | Bank loans | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Bank loans, measurement input		0.018
Level III | Discount rate | Investments of Consolidated VIEs | Minimum | Profit participating notes | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Profit participating notes, measurement input		0.087
Level III | Discount rate | Investments of Consolidated VIEs | Minimum | Real Assets | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input		0.050
Level III | Discount rate | Investments of Consolidated VIEs | Minimum | Bonds | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Bonds, measurement input		0.040
Level III | Discount rate | Investments of Consolidated VIEs | Minimum | Secured loans | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input		0.014
Level III | Discount rate | Investments of Consolidated VIEs | Minimum | Subordinated notes | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input		0.045
Level III | Discount rate | Investments of Consolidated VIEs | Minimum | Other liabilities | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input		0.037
Level III | Discount rate | Investments of Consolidated VIEs | Maximum | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input		0.190
Other equity investments, measurement input		0.125
Level III | Discount rate | Investments of Consolidated VIEs | Maximum | Bank loans | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Bank loans, measurement input		0.156
Level III | Discount rate | Investments of Consolidated VIEs | Maximum | Profit participating notes | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Profit participating notes, measurement input		0.125
Level III | Discount rate | Investments of Consolidated VIEs | Maximum | Real Assets | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input		0.125
Level III | Discount rate | Investments of Consolidated VIEs | Maximum | Bonds | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Bonds, measurement input		0.070
Level III | Discount rate | Investments of Consolidated VIEs | Maximum | Secured loans | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input		0.100
Level III | Discount rate | Investments of Consolidated VIEs | Maximum | Subordinated notes | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input		0.119
Level III | Discount rate | Investments of Consolidated VIEs | Maximum | Other liabilities | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input		0.093
Level III | Discount rate | Investments of Consolidated VIEs | Weighted Average | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input		0.104
Level III | Discount rate | Investments of Consolidated VIEs | Weighted Average | Dividend discount model
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input	0.121	0.137
Level III | Discount rate | Investments of Consolidated VIEs | Weighted Average | Bank loans | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Bank loans, measurement input	0.080	0.043
Level III | Discount rate | Investments of Consolidated VIEs | Weighted Average | Profit participating notes | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Profit participating notes, measurement input		0.124
Level III | Discount rate | Investments of Consolidated VIEs | Weighted Average | Real Assets | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input		0.073
Level III | Discount rate | Investments of Consolidated VIEs | Weighted Average | Bonds | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Bonds, measurement input	0.079	0.061
Level III | Discount rate | Investments of Consolidated VIEs | Weighted Average | Warrants | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Warrants, measurement input	0.154
Level III | Discount rate | Investments of Consolidated VIEs | Weighted Average | Other equity investments | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Other equity investments, measurement input		0.121
Level III | Discount rate | Investments of Consolidated VIEs | Weighted Average | Secured loans | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input		0.028
Level III | Discount rate | Investments of Consolidated VIEs | Weighted Average | Subordinated notes | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input		0.058
Level III | Discount rate | Investments of Consolidated VIEs | Weighted Average | Participating equity | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input		0.150
Level III | Discount rate | Investments of Consolidated VIEs | Weighted Average | Other liabilities | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Long-term debt, measurement input		0.063
Level III | Volatility rate | Option model
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Derivative assets, measurement input	0.600
Level III | Volatility rate | Weighted Average | Option model
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Derivative assets, measurement input	0.600
Level III | NTAV multiple | Investments of Consolidated VIEs | Market comparable companies
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input		1.25
Level III | NTAV multiple | Investments of Consolidated VIEs | Weighted Average | Market comparable companies
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input		1.25
Level III | Purchase multiple | Investments of Consolidated VIEs | Adjusted transaction value
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input		1.25
Level III | Purchase multiple | Investments of Consolidated VIEs | Weighted Average | Adjusted transaction value
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Equity securities, measurement input		1.25
Level III | Capitalization rate | Investments of Consolidated VIEs | Minimum | Real Assets | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input		0.040
Level III | Capitalization rate | Investments of Consolidated VIEs | Minimum | Real Assets | Direct capitalization
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input		0.055
Level III | Capitalization rate | Investments of Consolidated VIEs | Maximum | Real Assets | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input		0.058
Level III | Capitalization rate | Investments of Consolidated VIEs | Maximum | Real Assets | Direct capitalization
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input		0.085
Level III | Capitalization rate | Investments of Consolidated VIEs | Weighted Average | Real Assets | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input		0.053
Level III | Capitalization rate | Investments of Consolidated VIEs | Weighted Average | Real Assets | Direct capitalization
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input		0.062
Level III | Terminal capitalization rate | Investments of Consolidated VIEs | Real Assets | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input		0.083
Level III | Terminal capitalization rate | Investments of Consolidated VIEs | Minimum | Real Assets | Direct capitalization
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input		0.060
Level III | Terminal capitalization rate | Investments of Consolidated VIEs | Maximum | Real Assets | Direct capitalization
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input		0.12
Level III | Terminal capitalization rate | Investments of Consolidated VIEs | Weighted Average | Real Assets | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input		0.083
Level III | Terminal capitalization rate | Investments of Consolidated VIEs | Weighted Average | Real Assets | Direct capitalization
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Real estate, measurement input		0.069

FAIR VALUE MEASUREMENTS OF FI_7

FAIR VALUE MEASUREMENTS OF FINANCIAL INSTRUMENTS - Narrative (Details)	Dec. 31, 2021 $ / shares
Investment in Athene Holding
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Market price (in USD per share)	$ 83.33

OTHER ASSETS - Schedule of Othe

OTHER ASSETS - Schedule of Other Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fixed assets	$ 447,065	$ 256,252
Less: Accumulated depreciation and amortization	(160,654)	(130,072)
Fixed assets, net	286,411	126,180
Deferred equity-based compensation	279,973	282,900
Intangible assets, net	179,215	14,846	$ 23,586	$ 20,615
Commitment asset	138,385	0
Prepaid expenses	62,098	57,765
Tax receivables	92,610	30,334
Other	137,063	73,876
Total Other Assets	1,175,755	585,901
Other liabilities
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of grants	$ 227,800	$ 210,600

OTHER ASSETS - Narrative (Detai

OTHER ASSETS - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Depreciation	$ 34,500,000	$ 18,600,000	$ 11,400,000
Impairment of intangible assets, indefinite-lived	$ 0	$ 0

OTHER ASSETS - Schedule of Fini

OTHER ASSETS - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Intangible assets/management contracts	$ 455,072	$ 272,542
Accumulated amortization	(275,857)	(257,696)
Intangible assets, net	$ 179,215	$ 14,846	$ 23,586	$ 20,615

OTHER ASSETS - Changes in Intan

OTHER ASSETS - Changes in Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Indefinite-lived intangible assets	$ 1,000	$ 1,800
Intangible Asset [Roll Forward]
Balance, beginning of year	14,846	23,586	$ 20,615
Amortization expense	(18,161)	(8,740)	(7,431)
Acquisitions / additions, net of disposal	182,530	0	10,402
Balance, end of year	$ 179,215	$ 14,846	$ 23,586

OTHER ASSETS - Schedule of Amor

OTHER ASSETS - Schedule of Amortization (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
2023	$ 22,213
2024	19,688
2025	18,620
2026	18,620
2027	18,611
Thereafter	80,503
Total	$ 178,255

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 71,445	$ 48,661	$ 46,483

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating cash flows for operating leases	$ 51,886	$ 31,802	$ 27,452

LEASES - Lease Payments by Matu

LEASES - Lease Payments by Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Operating Lease Payments
2023	$ 68,979
2024	68,056
2025	66,464
2026	62,885
2027	65,296
Thereafter	454,279
Total lease payments	785,959
Less imputed interest	(121,593)
Present value of lease payments	$ 664,366	$ 505,206

LEASES - Narrative (Details)

LEASES - Narrative (Details) $ in Millions	Dec. 31, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Lease not yet commenced, amount	$ 127.4
Minimum
Lessee, Lease, Description [Line Items]
Lease not yet commenced, term	12 years
Maximum
Lessee, Lease, Description [Line Items]
Lease not yet commenced, term	14 years

LEASES - Supplemental Informati

LEASES - Supplemental Information Related to Lease (Details)	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Weighted average remaining lease term (in years)	12 years 3 months 18 days	12 years 3 months 18 days
Weighted average discount rate	2.80%	2.70%

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Income tax provision	$ 209,920,000	$ 594,379,000	$ 86,966,000
Effective tax rate	9.50%	12.20%	15.70%
Deferred tax assets, valuation allowance	$ 0
Unrecognized tax benefits that would impact effective tax rate	17,300,000
Accrued interest	$ 4,900,000
Period of recognition for tax intangibles	15 years
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 7,400,000
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	0
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Tax credit carryforward	$ 0

INCOME TAXES - Provision for In

INCOME TAXES - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current:
Federal income tax	$ 26,040	$ 83,201	$ 21,039
Foreign income tax	29,513	32,530	24,926
State and local income tax	46,776	3,562	5,389
Subtotal	102,329	119,293	51,354
Deferred:
Federal income tax	128,717	422,561	9,109
Foreign income tax	(1,168)	(946)	42
State and local income tax	(19,958)	53,471	26,461
Subtotal	107,591	475,086	35,612
Total Income Tax Provision	209,920	594,379	86,966
Foreign pretax income	$ 183,300	$ 211,700	$ 115,900

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Tax Rates (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
U.S. Federal Statutory Tax Rate	21%	21%	21%
Income Passed Through to Non-controlling interests	(10.30%)	(10.40%)	(12.20%)
State and Local Income Taxes (net of Federal Benefit)	1%	0.80%	3.80%
Impact of Merger	(2.70%)	0%	0%
Impact of Corporate Conversion	0%	0%	0.90%
Impact of Foreign Taxes (net of Foreign Tax Credit)	0.60%	0.30%	2.30%
Impact of Equity-Based Compensation	(0.10%)	0.50%	(1.20%)
Other	0%	0%	1.10%
Effective Income Tax Rate	9.50%	12.20%	15.70%

INCOME TAXES - Deferred Tax Ass

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred Tax Assets:
Depreciation and amortization	$ 450,747	$ 507,594
Net operating loss carryforwards	150	1,414
Deferred Revenue	4,863	5,981
Equity-based compensation	76,762	62,618
Basis difference in investments	65,473	0
Other	39,415	39,805
Total Deferred Tax Assets	637,410	617,412
Deferred Tax Liabilities:
Unrealized gains from investments	0	192,538
Other	3,750	742
Total Deferred Tax Liabilities	3,750	193,280
Total Deferred Tax Assets, Net	$ 633,660	$ 424,132

INCOME TAXES - Schedule of Aggr

INCOME TAXES - Schedule of Aggregate Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of period	$ 0	$ 0	$ 0
Increases based on tax positions taken in the prior years	14,700	0	0
Balance at end of period	$ 14,700	$ 0	$ 0

INCOME TAXES - Impact of Exchan

INCOME TAXES - Impact of Exchange of AOG Units (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Income Tax Contingency [Line Items]
Increase in Tax Receivable Agreement Liability	$ 287,900
Class A Common Stock
Income Tax Contingency [Line Items]
Increase in Deferred Tax Asset	346,896
Increase in Tax Receivable Agreement Liability	287,917
Increase to Additional Paid In Capital	$ 58,979

DEBT - Summary of Debt (Details

DEBT - Summary of Debt (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Outstanding Balance	$ 2,814,117,000	$ 3,134,396,000
Fair Value	2,572,991,000	3,498,794,000
Debt issuance costs	15,800,000	25,100,000
Senior Notes | 2024 Senior Notes
Debt Instrument [Line Items]
Outstanding Balance	499,122,000	498,469,000
Fair Value	$ 485,616,000	$ 530,052,000
Interest Rate	4%	4%
Senior Notes | 2026 Senior Notes
Debt Instrument [Line Items]
Outstanding Balance	$ 498,243,000	$ 497,730,000
Fair Value	$ 475,629,000	$ 553,055,000
Interest Rate	4.40%	4.40%
Senior Notes | 2029 Senior Notes
Debt Instrument [Line Items]
Outstanding Balance	$ 674,816,000	$ 674,786,000
Fair Value	$ 638,649,000	$ 777,703,000
Interest Rate	4.87%	4.87%
Senior Notes | 2030 Senior Notes
Debt Instrument [Line Items]
Outstanding Balance	$ 495,524,000	$ 494,928,000
Fair Value	$ 406,787,000	$ 506,094,000
Interest Rate	2.65%	2.65%
Senior Notes | 2048 Senior Notes
Debt Instrument [Line Items]
Outstanding Balance	$ 296,959,000	$ 296,757,000
Fair Value	$ 261,675,000	$ 397,191,000
Interest Rate	5%	5%
Senior Secured Notes | 2039 Senior Secured Guaranteed Notes
Debt Instrument [Line Items]
Outstanding Balance	$ 0	$ 317,985,000
Fair Value	$ 0	$ 369,041,000
Interest Rate	4.77%	4.77%
Secured debt	$ 0
Subordinated notes | 2050 Subordinated Notes
Debt Instrument [Line Items]
Outstanding Balance	296,714,000	$ 296,675,000
Fair Value	$ 252,483,000	$ 308,687,000
Interest Rate	4.95%	4.95%
AMI Term Facility | Secured Borrowing II
Debt Instrument [Line Items]
Outstanding Balance	$ 18,159,000	$ 19,334,000
Fair Value	$ 17,614,000	$ 19,239,000
Interest Rate	1.70%	1.70%
AMI Term Facility | 2016 AMI Term Facility I
Debt Instrument [Line Items]
Outstanding Balance	$ 18,052,000	$ 19,186,000
Fair Value	$ 18,028,000	$ 19,186,000
Interest Rate	1.30%	1.30%
AMI Term Facility | 2016 AMI Term Facility II
Debt Instrument [Line Items]
Outstanding Balance	$ 16,528,000	$ 18,546,000
Fair Value	$ 16,510,000	$ 18,546,000
Interest Rate	1.40%	1.40%

DEBT - Credit Facilities (Detai

DEBT - Credit Facilities (Details) - Revolving Credit Facility - AMH Credit Facility - USD ($)	12 Months Ended
	Dec. 31, 2022	Oct. 12, 2022
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 1,000,000,000
Commitment fee (as a percent)	0.08%

DEBT - Narrative (Details)

DEBT - Narrative (Details) - Revolving Credit Facility - AMH Credit Facility	Oct. 12, 2022 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,000,000,000
Incremental facilities	$ 250,000,000
Leverage ratio	4
Outstanding amount		$ 0

DEBT - Interest Expense (Detail

DEBT - Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Total Interest Expense	$ 130,509	$ 139,090	$ 133,239

DEBT - Debt Maturities (Details

DEBT - Debt Maturities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
2023	$ 16,528
2024-2025	518,052
2026-2027	500,000
2028 and Thereafter	1,793,159
Total	2,827,739
Senior Notes | 2024 Senior Notes
Debt Instrument [Line Items]
2023	0
2024-2025	500,000
2026-2027	0
2028 and Thereafter	0
Total	500,000
Senior Notes | 2026 Senior Notes
Debt Instrument [Line Items]
2023	0
2024-2025	0
2026-2027	500,000
2028 and Thereafter	0
Total	500,000
Senior Notes | 2029 Senior Notes
Debt Instrument [Line Items]
2023	0
2024-2025	0
2026-2027	0
2028 and Thereafter	675,000
Total	675,000
Senior Notes | 2030 Senior Notes
Debt Instrument [Line Items]
2023	0
2024-2025	0
2026-2027	0
2028 and Thereafter	500,000
Total	500,000
Senior Notes | 2048 Senior Notes
Debt Instrument [Line Items]
2023	0
2024-2025	0
2026-2027	0
2028 and Thereafter	300,000
Total	300,000
Subordinated notes | 2050 Subordinated Notes
Debt Instrument [Line Items]
2023	0
2024-2025	0
2026-2027	0
2028 and Thereafter	300,000
Total	300,000
AMI Term Facility | Secured Borrowing II
Debt Instrument [Line Items]
2023	0
2024-2025	0
2026-2027	0
2028 and Thereafter	18,159
Total	18,159
AMI Term Facility | 2016 AMI Term Facility I
Debt Instrument [Line Items]
2023	0
2024-2025	18,052
2026-2027	0
2028 and Thereafter	0
Total	18,052
AMI Term Facility | 2016 AMI Term Facility II
Debt Instrument [Line Items]
2023	16,528
2024-2025	0
2026-2027	0
2028 and Thereafter	0
Total	$ 16,528

EQUITY-BASED COMPENSATION - Nar

EQUITY-BASED COMPENSATION - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense		$ 484.1	$ 1,200	$ 213.1
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized equity-based compensation expense		$ 683.8
Granted (in shares)		7,678,302
RSUs | President
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	6,000,000
RSUs | Weighted Average
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized equity-based compensation expense, period of recognition		2 years 10 months 24 days
RSUs | Plan Grants | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year
RSUs | Plan Grants | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		6 years
RSU, service grants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense		$ 207.1	$ 92.6	$ 75.7
Granted (in shares)		3,700,000	2,500,000	2,400,000
Fair value of grants		$ 229.9	$ 130.4	$ 105.9
RSU, service grants | President
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense		55.6
Award requisite service period	5 years
Performance-based awards | Certain Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense		$ 205.1	$ 103.7	$ 97.4
Granted (in shares)		3,900,000	2,900,000	2,200,000
Fair value of grants		$ 228.2	$ 150.2	$ 86.6
Performance-based awards | President
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense		23.5
Granted (in shares)	2,000,000
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation expense		56	$ 30.2	$ 25.8
Unrecognized equity-based compensation expense		$ 51.8
Unrecognized equity-based compensation expense, period of recognition		1 year 2 months 12 days
Granted (in shares)		546,766	1,200,000	600,000
Fair value of grants		$ 36	$ 152.1	$ 30.7
Transfer grants in period		500,000

EQUITY-BASED COMPENSATION - Wei

EQUITY-BASED COMPENSATION - Weighted Average Discounts (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Plan Grants
Class of Stock [Line Items]
Discount for the lack of distributions until vested	0.20%	0%	0.10%
Marketability discount for transfer restrictions	10%	12.70%	9.40%
Bonus Grants
Class of Stock [Line Items]
Marketability discount for transfer restrictions	3.50%	3.50%	3%
Performance Grants
Class of Stock [Line Items]
Discount for the lack of distributions until vested	1.30%	7.30%	8.70%
Marketability discount for transfer restrictions	7.60%	5.60%	9.20%

EQUITY-BASED COMPENSATION - RSU

EQUITY-BASED COMPENSATION - RSU and Restricted Share Awards Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
RSUs
Unvested
Beginning balance (in shares)	0
RSUs assumed in the Mergers	15,428,416
Granted (in shares)	7,678,302
Forfeited (in shares)	(446,499)
Vested (in shares)	(5,642,440)
Ending balance (in shares)	17,017,779	0
Weighted Average Grant Date Fair Value
Beginning balance (in USD per share)	$ 0
RSUs assumed in Merger (in USD per share)	51.86
Granted (in USD per share)	59.66
Forfeited (in USD per share)	54.49
Vested (in USD per share)	47.17
Ending balance (in USD per share)	$ 56.91	$ 0
Vested
Vested, Beginning Balance (in shares)	0
RSUs assumed in the Merger (in shares)	15,976,551
Granted (in shares)	0
Forfeited (in shares)	(429)
Vested (in shares)	5,642,440
Issued (in shares)	(6,924,079)
Vested, Ending Balance (in shares)	14,694,483	0
Total Number of RSUs Outstanding
Total Number Shares Outstanding, beginning balance (in shares)	0
RSUs assumed in Merger (in shares)	31,404,967
Granted (in shares)	7,678,302
Forfeited (in shares)	(446,928)
Vested (in shares)	0
Issued (in shares)	(6,924,079)
Total Number Shares Outstanding, ending balance (in shares)	31,712,262	0
Restricted Stock Awards
Unvested
Beginning balance (in shares)	1,470,001
Granted (in shares)	546,766	1,200,000	600,000
Forfeited (in shares)	(12,883)
Vested (in shares)	(845,174)
Ending balance (in shares)	1,158,710	1,470,001
Weighted Average Grant Date Fair Value
Beginning balance (in USD per share)	$ 63.73
Granted (in USD per share)	62.83
Forfeited (in USD per share)	66.97
Vested (in USD per share)	60.04
Issued (in USD per share)	65.62
Ending balance (in USD per share)	$ 65.96	$ 63.73
Vested
Vested, Beginning Balance (in shares)	1,037,738
Granted (in shares)	474,922
Forfeited (in shares)	0
Vested (in shares)	845,174
Issued (in shares)	(1,882,912)
Vested, Ending Balance (in shares)	474,922	1,037,738
Total Number of RSUs Outstanding
Total Number Shares Outstanding, beginning balance (in shares)	2,507,739
Granted (in shares)	1,021,688
Forfeited (in shares)	(12,883)
Vested (in shares)	0
Issued (in shares)	(1,882,912)
Total Number Shares Outstanding, ending balance (in shares)	1,633,632	2,507,739

EQUITY - Preferred Stock Issuan

EQUITY - Preferred Stock Issuance, Narrative (Details) - $ / shares		3 Months Ended	12 Months Ended
	Feb. 09, 2023	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Preferred Stock
Class of Stock [Line Items]
Increase to distribution rate (as a percent)			5%
Preferred Stock | Equity, Redemption, Period Two
Class of Stock [Line Items]
Redemption price (in USD per share)		$ 25	$ 25
Preferred Stock | Equity, Redemption, Period One
Class of Stock [Line Items]
Redemption price (in USD per share)		$ 25.25	$ 25.25
Required days notice			30 days
Number of days within occurrence			60 days
6.375% Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares issued (in shares)		11,000,000	11,000,000	11,000,000
Preferred stock, shares outstanding (in shares)		11,000,000	11,000,000	11,000,000
Dividends declared per share (in USD per share)		$ 0.398438
6.375% Series A Preferred Stock | Subsequent Event
Class of Stock [Line Items]
Dividends declared per share (in USD per share)	$ 0.398438
6.375% Series B Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares issued (in shares)		12,000,000	12,000,000	12,000,000
Preferred stock, shares outstanding (in shares)		12,000,000	12,000,000	12,000,000
Dividends declared per share (in USD per share)		$ 0.398438
6.375% Series B Preferred Stock | Subsequent Event
Class of Stock [Line Items]
Dividends declared per share (in USD per share)	$ 0.398438
6.375% Series B Preferred Stock | Equity, Redemption, Period One
Class of Stock [Line Items]
Redemption price (in USD per share)		$ 25.50	$ 25.50
Required days notice			30 days
Number of days within occurrence			60 days

EQUITY - Interests in Consolida

EQUITY - Interests in Consolidated Entities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net income attributable to non-controlling interests in consolidated entities:
Net income attributable to non-controlling interests in consolidated entities	$ 1,060,453	$ 2,429,404	$ 310,188
Net income attributable to non-controlling interests in the Apollo Operating Group:
Net Income	1,994,320	4,267,895	466,802
Net income attributable to non-controlling interests in consolidated entities	(1,060,453)	(2,429,404)	(310,188)
Net income (loss) available to Athene Holding Ltd. shareholders	933,867	1,838,491	156,614
Adjustments:
Income tax provision	209,920	594,379	86,966
NYC UBT and foreign tax benefit	(35,579)	(32,516)	(26,549)
Net income in non-Apollo Operating Group entities	(933,867)	(1,838,491)	(156,614)
Total adjustments	183,416	519,822	10,190
Other comprehensive loss attributable to non-controlling interests	(24,196)	(28,730)	38,113
Comprehensive income attributable to non-controlling interests	1,036,257	2,400,674	348,301
Series A Preferred Stock
Adjustments:
Preferred Stock Dividends	(17,531)	(17,531)	(17,531)
Series B Preferred Stock
Adjustments:
Preferred Stock Dividends	(19,125)	(19,125)	(19,125)
Other consolidated entities
Net income attributable to non-controlling interests in consolidated entities:
Net income attributable to non-controlling interests in consolidated entities	335,720	411,554	114,992
Net income attributable to non-controlling interests in the Apollo Operating Group:
Net income attributable to non-controlling interests in consolidated entities	(335,720)	(411,554)	(114,992)
Consolidated entities
Net income attributable to non-controlling interests in consolidated entities:
Net income attributable to non-controlling interests in consolidated entities	342,521	417,692	118,378
Net income attributable to non-controlling interests in the Apollo Operating Group:
Net income attributable to non-controlling interests in consolidated entities	(342,521)	(417,692)	(118,378)
Net income (loss) available to Athene Holding Ltd. shareholders	1,651,799	3,850,203	348,424
Adjustments:
Net income in non-Apollo Operating Group entities	(1,651,799)	(3,850,203)	(348,424)
Net income after adjustments	1,835,215	4,370,025	358,614
Interest in management companies and a co-investment vehicle
Net income attributable to non-controlling interests in consolidated entities:
Net income attributable to non-controlling interests in consolidated entities	6,801	6,138	3,386
Net income attributable to non-controlling interests in the Apollo Operating Group:
Net income attributable to non-controlling interests in consolidated entities	(6,801)	(6,138)	(3,386)
Apollo Operating Group
Net income attributable to non-controlling interests in consolidated entities:
Net income attributable to non-controlling interests in consolidated entities	717,932	2,011,712	191,810
Net income attributable to non-controlling interests in the Apollo Operating Group:
Net income attributable to non-controlling interests in consolidated entities	(717,932)	(2,011,712)	(191,810)
Net income (loss) available to Athene Holding Ltd. shareholders	(45,731)	5,385	13,571
Adjustments:
Net income in non-Apollo Operating Group entities	$ 45,731	$ (5,385)	$ (13,571)
Weighted average ownership percentage of Apollo Operating Group	42.60%	45.10%	47.10%

EQUITY - Redeemable Non-Control

EQUITY - Redeemable Non-Controlling Interests (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Redeemable Non-Controlling Interests [Roll Forward]
Balance at beginning of period	$ 1,770,034	$ 782,702
Redemption of non-controlling interests	(776,272)	0
Deconsolidation of SPAC	(39,588)	0
Net issuances of redeemable non-controlling interests	10,544	950,103
Accretion of redeemable non-controlling interests	67,196	37,229
Balance at end of period	$ 1,031,914	$ 1,770,034

RELATED PARTY TRANSACTIONS AN_3

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Due from and Due to Affiliates (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Due from Related Parties:
Total Due from Related Parties	$ 726,253	$ 493,826
Due to Related Parties:
Total Due to Related Parties	1,577,494	1,222,402
Due from employees and former employees
Due from Related Parties:
Total Due from Related Parties	89,671	106,755
Due from portfolio companies
Due from Related Parties:
Total Due from Related Parties	143,975	66,960
Incentive fees receivable
Due from Related Parties:
Total Due from Related Parties	8,887	4,236
Due to Former Managing Partners and Contributing Partners
Due to Related Parties:
Total Due to Related Parties	874,406	1,118,272
Due to Former Managing Partners and Contributing Partners | Purchase of Limited Partnership Interests
Due to Related Parties:
Total Due to Related Parties	350,500	569,600
Due to parent
Due from Related Parties:
Total Due from Related Parties	150,555	0
Due to Related Parties:
Total Due to Related Parties	579,354	0
Due to funds
Due from Related Parties:
Total Due from Related Parties	333,165	315,875
Due to Related Parties:
Total Due to Related Parties	123,734	104,130
Capital Markets | Sale of Investment
Due to Related Parties:
Total Due to Related Parties	$ 43,400	$ 47,800
Due from related parties, repayment period	5 years

RELATED PARTY TRANSACTIONS AN_4

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Tax Receivable Agreement (Details) - USD ($)	1 Months Ended		12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Percentage of amount of cash savings			15%
Recorded liability				$ 287,900,000
Cash payment on tax receivable agreement	$ 51,000,000	$ 39,900,000	$ 51,032,000	39,884,000	$ 48,195,000
Distribution to noncontrolling interests		$ 34,700,000
Cash payment, multiplier by outstanding units				3.66
Due to related parties			1,577,494,000	1,222,402,000
Noncontrolling Interest
Related Party Transaction [Line Items]
Distributed income - basic (in USD per share)		$ 0.15
Parent Company
Related Party Transaction [Line Items]
Gain (loss) from remeasurement of tax receivable agreement liability			(26,200,000)	9,600,000	$ 12,400,000
Due to Former Managing Partners and Contributing Partners
Related Party Transaction [Line Items]
Due to related parties			874,406,000	1,118,272,000
Purchase of Limited Partnership Interests | Due to Former Managing Partners and Contributing Partners
Related Party Transaction [Line Items]
Due to related parties			$ 350,500,000	$ 569,600,000
Due to Former Managing Partners and Contributing Partners
Related Party Transaction [Line Items]
Percentage of amount of cash savings			85%

RELATED PARTY TRANSACTIONS AN_5

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Due from Employees and Former Employees (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Related Party Transactions [Abstract]
Loans to related party	$ 8.8	$ 17.5
Loans due upon liquidation of fund	$ 72.1	$ 64.5

RELATED PARTY TRANSACTIONS AN_6

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Indemnity (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Related Party Transactions [Abstract]
Indemnity liability	$ 13.2	$ 13.2

RELATED PARTY TRANSACTIONS AN_7

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Due to Funds (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Related Party Transactions [Abstract]
General partner obligation	$ 106.5	$ 81.2

RELATED PARTY TRANSACTIONS AN_8

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Athene (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Asset threshold	$ 13,793,947	$ 30,501,894
Athene Holding
Related Party Transaction [Line Items]
Management fee rate	0.225%
Athene Holding | Revised Fee Agreement
Related Party Transaction [Line Items]
Management fee rate	0.15%
Asset threshold	$ 103,400,000

RELATED PARTY TRANSACTIONS AN_9

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Sub-Allocation Fee Schedule (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Athene Holding | Athene Holding
Related Party Transaction [Line Items]
Ownership percentage		28.40%
Core Assets
Related Party Transaction [Line Items]
Sub-Allocation Fees	0.065%
Core Plus Assets
Related Party Transaction [Line Items]
Sub-Allocation Fees	0.13%
Yield Assets
Related Party Transaction [Line Items]
Sub-Allocation Fees	0.375%
High Alpha Assets
Related Party Transaction [Line Items]
Sub-Allocation Fees	0.70%
Other Assets
Related Party Transaction [Line Items]
Sub-Allocation Fees	0%
Other Assets | Minimum
Related Party Transaction [Line Items]
Performance revenue, percentages	0%
Other Assets | Maximum
Related Party Transaction [Line Items]
Performance revenue, percentages	20%

RELATED PARTY TRANSACTIONS A_10

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Athora (Details) $ in Millions	Dec. 31, 2022 USD ($)
Athora | Equity Investments | Advisory Services | Affiliated Entity
Related Party Transaction [Line Items]
Other commitment	$ 342.6

RELATED PARTY TRANSACTIONS A_11

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Performance Allocations and Revenues Earned (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Athene, Athora and AAA Investments
Related Party Transaction [Line Items]
Revenues earned in aggregate from Athene and Athora, net	$ 1,314,949	$ 1,117,571	$ 794,976

RELATED PARTY TRANSACTIONS A_12

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Due to Parent (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Due from related parties	$ 726,253	$ 493,826
Due to related parties	1,577,494	1,222,402
Due to parent
Related Party Transaction [Line Items]
Due from related parties	150,555	0
Due to related parties	$ 579,354	$ 0

RELATED PARTY TRANSACTIONS A_13

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Investment in SPACs (Details) - USD ($) $ in Thousands			1 Months Ended	12 Months Ended
	Jul. 13, 2021	Feb. 12, 2021	Oct. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Net change in unrealized gains (losses) due to changes in fair value				$ 735,392	$ 2,611,141	$ (457,568)
Apollo Strategic Growth Capital (ASPG I) | Affiliated Entity
Related Party Transaction [Line Items]
Unrealized gain on deconsolidation				162,000
Net change in unrealized gains (losses) due to changes in fair value				$ 81,500
Apollo Strategic Growth Capital (ASPG I) | Affiliated Entity | IPO | APSG I
Related Party Transaction [Line Items]
Sale of stock, capital from third party investors			$ 816,800
APSG II | Affiliated Entity | IPO
Related Party Transaction [Line Items]
Sale of stock, capital from third party investors		$ 690,000
Acropolis | Affiliated Entity | IPO
Related Party Transaction [Line Items]
Sale of stock, capital from third party investors	$ 345,000

RELATED PARTY TRANSACTIONS A_14

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Financial Information of SPACs in Aggregate (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets:
Cash and cash equivalents	$ 1,200,735	$ 917,183	$ 1,555,517
Restricted cash and cash equivalents	1,048,129	707,885	17,708
U.S. Treasury securities, at fair value	708,844	1,687,105
Other assets	1,175,755	585,901
Total Assets	13,793,947	30,501,894
Liabilities:
Accounts payable and accrued expenses	167,764	145,054
Due to related parties	1,577,494	1,222,402
Other liabilities	422,441	500,980
Total Liabilities	9,295,046	18,537,494
Redeemable non-controlling interests:
Redeemable non-controlling interests	1,031,914	1,770,034	782,702
Apollo Asset Management, Inc. Stockholders’ Equity:
Additional paid in capital	1,304,378	2,096,403
Retained earnings	0	1,143,899
Total Stockholders’ Equity	3,466,987	10,194,366	5,513,263	$ 3,038,127
Total Liabilities, Redeemable non-controlling interests and Stockholders’ Equity	13,793,947	30,501,894
Investments of Consolidated VIEs
Assets:
Cash and cash equivalents	109,578	463,266	$ 893,306
Other assets	30,310	251,581
Liabilities:
Other liabilities	1,898,841	781,482
Investments of Consolidated VIEs | APSG I, APSGII and Acropolis
Assets:
Cash and cash equivalents	439	1,796
Restricted cash and cash equivalents	1,045,976	690,205
U.S. Treasury securities, at fair value	0	1,162,299
Other assets	1,651	2,627
Total Assets	1,048,066	1,856,927
Liabilities:
Accounts payable and accrued expenses	3,446	2,361
Due to related parties	8,300	20,146
Other liabilities	42,507	143,778
Total Liabilities	54,253	166,285
Redeemable non-controlling interests:
Redeemable non-controlling interests	1,016,886	1,762,282
Apollo Asset Management, Inc. Stockholders’ Equity:
Additional paid in capital	(72,117)	(98,369)
Retained earnings	49,044	26,729
Total Stockholders’ Equity	(23,073)	(71,640)
Total Liabilities, Redeemable non-controlling interests and Stockholders’ Equity	$ 1,048,066	$ 1,856,927

RELATED PARTY TRANSACTIONS A_15

RELATED PARTY TRANSACTIONS AND INTERESTS IN CONSOLIDATED ENTITIES - Financial Information of SPACs in Aggregate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Expenses:
Interest expense	$ 130,509	$ 139,090	$ 133,239
General, administrative and other	648,059	481,760	356,027
Total Expenses	2,721,757	4,114,230	1,577,964
Other Income:
Net gains from investment activities	934,764	2,610,903	(455,487)
Interest income	49,754	4,255	14,999
Other income (loss), net	(14,966)	(147,541)	20,832
Total Other Income (Loss)	1,374,641	3,024,906	(222,287)
Income (loss) before income taxes	2,204,240	4,862,274	553,768
Income tax provision	(209,920)	(594,379)	(86,966)
Net income (loss) available to Athene Holding Ltd. shareholders	933,867	1,838,491	156,614
APSG I, APSGII and Acropolis | Investments of Consolidated VIEs
Expenses:
Interest expense	33	8	0
General, administrative and other	7,445	19,015	583
Total Expenses	7,478	19,023	583
Other Income:
Net gains from investment activities	19,617	3,446	35
Interest income	12,966	545	140
Other income (loss), net	(400)	(520)	0
Total Other Income (Loss)	32,183	3,471	175
Income (loss) before income taxes	24,705	(15,552)	(408)
Income tax provision	(993)	0	0
Net income (loss) available to Athene Holding Ltd. shareholders	$ 23,712	$ (15,552)	$ (408)

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Investment Commitments (Details) $ in Billions	Dec. 31, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Unfunded capital commitments	$ 0.6

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Litigation and Regulatory Matters (Details) $ in Thousands, € in Millions					1 Months Ended
	Mar. 08, 2021 USD ($)	Jun. 08, 2020 defendant claim	Dec. 21, 2017 USD ($)	Aug. 03, 2017 EUR (€)	Mar. 31, 2020 defendant
United States District Court Middle District Of Florida Against AGM
Long-term Purchase Commitment [Line Items]
Damages sought | €				€ 30
Harbinger Capital Partners II LP et al. v. Apollo Global Management Inc, et al. (No. 657515/2017)
Long-term Purchase Commitment [Line Items]
Damages sought | $			$ 1,900,000
Number of suits | claim		3
Harbinger Capital Partners II LP et al. v. Apollo Global Management Inc, et al. (No. 657515/2017) | SkyTerra
Long-term Purchase Commitment [Line Items]
Number of defendants | defendant		8
Benjamin Fongers Against CareerBuilder, LLC And AGM Inc.
Long-term Purchase Commitment [Line Items]
Damages sought | $	$ 35,000
Frank Funds v. Apollo Global Management | Officers and Employees
Long-term Purchase Commitment [Line Items]
Number of defendants | defendant					3

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Summary of Fixed and Determinable Payments (Details) - Other long-term obligations $ in Thousands	Dec. 31, 2022 USD ($)
Other Commitments [Line Items]
2023	$ 13,979
2024 - 2025	675
2026 - 2027	0
2028 and Thereafter	0
Total	$ 14,654

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES - Contingent Obligations (Details)	Dec. 31, 2022 USD ($) subsidiary	Dec. 31, 2021 USD ($)
Variable Interest Entity [Line Items]
Unfunded contingent commitments	$ 600,000,000
Apollo Capital Markets Partnership | Sumitomo Mitsui Banking Corp
Variable Interest Entity [Line Items]
Maximum borrowing capacity	2,250,000,000
Outstanding amount	$ 518,000,000
Underwriting Commitments | AGS
Variable Interest Entity [Line Items]
Number of subsidiaries | subsidiary	1
Commitment To Purchase Underlying Portfolio Investment | AGS
Variable Interest Entity [Line Items]
Unfunded contingent commitments	$ 0	$ 0
Investments of Consolidated VIEs
Variable Interest Entity [Line Items]
Cumulative revenues recognized if existing investments become worthless	$ 4,600,000,000

COMMITMENTS AND CONTINGENCIES_5

COMMITMENTS AND CONTINGENCIES - Contingent Consideration (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Fair value of the contingent obligation	$ 55	$ 125.9

COMMITMENTS AND CONTINGENCIES_6

COMMITMENTS AND CONTINGENCIES - Atlas (Details) - Subsequent Event - Atlas $ in Billions	Feb. 23, 2023 USD ($) Transaction
Long-term Purchase Commitment [Line Items]
Number of transaction acquired | Transaction	2
Guarantee | $	$ 3.3

SEGMENT REPORTING - Narrative (

SEGMENT REPORTING - Narrative (Details)	12 Months Ended
	Dec. 31, 2022 segment
Segment Reporting [Abstract]
Number of reportable segments	2

SEGMENT REPORTING - Reconciliat

SEGMENT REPORTING - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total Assets	$ 13,793,947	$ 30,501,894
Management fees
Segment Reporting Information [Line Items]
Revenues	2,280,508	1,920,946	$ 1,686,973
Advisory and transaction fees, net
Segment Reporting Information [Line Items]
Revenues	443,491	302,379	249,482
Total reportable segment assets
Segment Reporting Information [Line Items]
Adjusted Segment Income	1,943,487	2,374,257	1,136,828
Total Assets	10,402,925	13,573,400
Total reportable segment assets | Asset Management
Segment Reporting Information [Line Items]
Fee-related performance fees	71,483	56,865	9,836
Fee related compensation	(753,481)	(653,321)	(532,556)
Other operating expenses	(454,933)	(313,146)	(275,066)
Adjusted Segment Income	1,411,090	1,266,716	1,101,698
Total Assets	2,167,599
Total reportable segment assets | Asset Management | Management fees
Segment Reporting Information [Line Items]
Revenues	2,134,497	1,878,210	1,647,964
Total reportable segment assets | Asset Management | Advisory and transaction fees, net
Segment Reporting Information [Line Items]
Revenues	413,524	298,108	251,520
Total reportable segment assets | Principal Investing
Segment Reporting Information [Line Items]
Other operating expenses	(25,190)	(42,347)	(52,645)
Adjusted Segment Income	532,397	1,107,541	35,130
Realized performance fees	595,260	1,589,074	280,923
Realized investment income	543,139	437,256	29,290
Principal investing compensation	(580,812)	$ (876,442)	$ (222,438)
Total Assets	$ 8,235,326

SEGMENT REPORTING - Reconcili_2

SEGMENT REPORTING - Reconciliation of Income (Loss) Before Income Tax Provision to Economic Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Income before income tax provision	$ 2,204,240	$ 4,862,274	$ 553,768
Net income attributable to non-controlling interests in consolidated entities	(1,060,453)	(2,429,404)	(310,188)
Unrealized net (gains) losses from investment activities and other	(735,392)	(2,611,141)	457,568
Segment Reconciling Items
Segment Reporting Information [Line Items]
Equity-based profit sharing expense and other	276,177	145,754	129,084
Equity-based compensation	184,613	79,777	67,852
Transaction-related charges	(36,912)	34,591	39,186
Merger-related transaction and integration costs	68,072	66,848	0
Charges associated with corporate conversion	0	0	3,893
(Gains) losses from changes in tax receivable agreement liability	26,250	(9,609)	(12,426)
Net income attributable to non-controlling interests in consolidated entities	(352,534)	(417,692)	(118,378)
Unrealized performance fees	(2,085)	(1,464,502)	(34,796)
Unrealized profit sharing expense	20,042	648,882	33,350
One-time equity-based compensation and other charges	0	949,152	0
Net interest expense	91,597	132,834	117,348
Unrealized principal investment income (loss)	175,963	(221,645)	(62,485)
Unrealized net (gains) losses from investment activities and other	(711,936)	(2,432,407)	420,432
Total Segments
Segment Reporting Information [Line Items]
Adjusted Segment Income	$ 1,943,487	$ 2,374,257	$ 1,136,828

SEGMENT REPORTING - Reconcili_3

SEGMENT REPORTING - Reconciliation of Reportable Segments to Total Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total assets	$ 13,793,947	$ 30,501,894
Total reportable segment assets
Segment Reporting Information [Line Items]
Total assets	10,402,925	13,573,400
Adjustments
Segment Reporting Information [Line Items]
Total assets	$ 3,391,022	$ 16,928,494