Apollo Global Management (APO) is trading higher today after releasing first-quarter 2026 results before the open, with management calling out record fee-related earnings and assets under management surpassing $1.03 trillion as of March 31, 2026. The print reinforces the market narrative that Apollo’s scaled, fee-driven earnings base is expanding alongside continued growth in assets managed.

Beyond the headline AUM milestone, investors are keying in on the emphasis on record fee-related earnings, a metric often viewed as a cleaner read on the durability of the management-fee engine than performance-driven items. Apollo also declared a $0.5625 per-share cash dividend on its common stock for the quarter, payable May 29, 2026 (record date May 19, 2026), supporting the total-return profile as the company scales.

Attention now shifts to management’s commentary on the 8:30 a.m. ET earnings call, including updates on fundraising momentum, fee-generating asset growth, and the outlook for private credit origination and spreads. Investors will also parse whether Apollo’s record fee-related earnings reflects broad-based growth across strategies versus narrower strength in specific channels, and whether the firm signals any change in capital return priorities.