Apollo posts a loss, the third publicly traded private-equity firm to report a hit from the coronavirus pandemic
Apollo Global Management Inc. reported a first-quarter loss, becoming the third publicly traded private-equity firm to take a hit to the value of its investments because of the coronavirus-driven market rout. But the firm’s credit portfolio held up better than the broader market.
Apollo lost $996.2 million, or $4.47 a share, in the quarter compared with a profit of $149.1 million, or 67 cents a share, during the same period last year. Roughly $3 of the firm’s per-share loss was related to the performance of Athene Holding...
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