Apollo Global Management reports record Q2 earnings and opens Austin innovation hub

Apollo Global Management posted adjusted net income of $2.11 per share for the second quarter ended June 30, 2026, driven by record fee‑related earnings of $785 million (up 25% YoY) and spread‑related earnings of $877 million (up 7%). The firm’s assets under management reached $1.05 trillion and it attracted $38 billion of fresh capital, while principal investing income fell to $16 million as asset sales slowed in a higher‑interest‑rate environment.

In parallel, Apollo announced the launch of a new strategic hub in Austin, Texas, aimed at recruiting technology talent and developing emerging‑technology tools for its investment and operations platforms. The Austin office will be led by Eric Needleman and Mike Downing, with CEO Marc Rowan emphasizing the need to “lead change” and leverage the region’s engineering talent pool. Texas Governor Greg Abbott and Austin Mayor Kirk Watson praised the move as a boost to the state’s financial‑services and innovation ecosystem.