The New York-based alternative asset manager said adjusted net income rose 8% year on year to $1.21bn, or $1.94 a share, above analysts' $1.88 estimate.
Record first-quarter inflows helped lift assets past the milestone and supported earnings that beat Wall Street expectations.
The results underscore Apollo's continued growth in alternative asset management as firms compete for investor money across private markets.
With Apollo surpassing $1 trillion AUM ahead of schedule, what risks or challenges could threaten its ambitious growth targets for 2029?
How will Apollo’s push to democratize private markets and expand into retail channels reshape access to alternative investments for everyday investors?
Could new regulations allowing alternatives in 401(k) plans create unintended risks for retirement savers, or will they unlock new growth for asset managers like Apollo?