Apollo Global Management reported second-quarter earnings that fell short of Wall Street expectations, with adjusted net income remaining flat at $1.01 billion, translating to $1.64 per share, below the $1.75 estimate. The company's asset management segment saw record fee-related earnings of $516 million, a 17% increase year-over-year, but this was offset by an 11% decline in profits from its Athene retirement services unit, which posted $710 million in earnings. Total assets under management increased by 13% to $696 billion, driven by $39 billion in inflows during the quarter. Despite the earnings miss, Apollo's CEO highlighted record levels of debt origination and capital deployment, alongside significant investments totaling $70 billion. The firm also raised $6 billion to support a co-investment strategy with Athene, indicating a robust deal-making environment. Apollo's shares dipped 3% in premarket trading following the earnings report.