Performance Watch: How Apollo’s PE vehicles fared in Q3 2020

Interactive charts showing the investment giant's private equity portfolio, which has depreciated 1.6% over the past 12 months.

As global markets recover from the coronavirus pandemic at their own pace, the latest quarterly reporting from private equity’s listed giants sheds new light on how the asset class fared during the crisis.

We examine Apollo Global Management’s private equity funds in the return of Private Equity International’s Performance Watch, which compares the firm’s Q3 2020 figures with those from the prior three quarters.

The firm’s private equity portfolio appreciated 8 percent during the quarter and has depreciated 1.6 percent over the past 12 months, driven by a 21.6 percent markdown in the first quarter.

PE assets under management increased 5 percent quarter-on-quarter to $77 billion, while firm-wide assets under management increased almost 5 percent from the second quarter to $433 billion. Apollo closed on $3.9 billion of third-party capital in Q3, including holding a $1.9 billion first close on its second Hybrid Value fund.

The firm anticipates a slowdown in fundraising for its drawdown vehicles as limited partners await the outcome of a board review into the relationship between firm co-founder Leon Black and the late Jeffrey Epstein, a convicted sex offender.

The interactive charts below depict seven of the firm’s private equity fund families based on its two previous quarterly earnings reports. The bubbles are sized proportionately to the size of the fund; toggle between the tabs to see how their performance differed between quarters.