Apollo Profit Doubles In Q4

Apollo Global Management LLC reported a 95 percent rise in quarterly earnings, as strong gains in private equity profits, driven by asset sales, more than compensated for a drop in income in its credit investment business, sister news service Reuters reported. Credit investments, such as non-performing loans, distressed debt and fixed income, now account for more than half of Apollo’s assets, but it was private equity that put in a strong showing in the quarter as the firm sold stakes in companies.