Private equity firm Apollo Global Management LLC's (APO.N) first quarter earnings rose fivefold from a year earlier as the value of its investments increased, in its first quarterly report since its March IPO. First-quarter economic net income -- a measure private equity firms use to report -- was $390 million, up from $77 million a year earlier. Apollo, which followed private equity firms Blackstone Group (BX.N) and Kohlberg Kravis Roberts and Co (KKR.N) in going public, said net proceeds of its IPO were $384 million. Total assets under management were $70 billion as of the end of March, up from $56 billion the same time a year earlier. Shares are slightly lower than the $19 IPO price, closing on Wednesday down 23 cents at $18.48.
Apollo Global Management, LLC (Apollo) is a global alternative asset manager. Shares of APO remained unchanged at $18.48. In the past year, the shares have traded as low as $17.65 and as high as $19.00. On average, 2011120 shares of APO exchange hands on a given day and today's volume is recorded at 0.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX remained unchanged at $17.79. In the past year, the shares have traded as low as $8.93 and as high as $19.63. On average, 4018050 shares of BX exchange hands on a given day and today's volume is recorded at 200.
KKR & Co. L.P.: NYSE:KKR quotes & news - Google Finance Source
