Apollo Global Management, Inc. (New)

Thank you for watching! © transcript Emily Beynon and many more. Thank you. Good morning and welcome to Apollo Global Management's second quarter 2026 earnings conference call.

During today's discussion, all callers will be placed in listen-only mode and following management's prepared remarks, the conference call will be open for questions. Please limit yourself to one question and then rejoin the queue. This conference call is being recorded. This call may include forward-looking statements and projections which do not guarantee future events or performance. Please refer to Apollo's most recent SEC filings for risk factors related to these statements. Apollo will be discussing certain non-GAAP Measures on this call which management believes are relevant in assessing the financial performance of the business. These non-GAAP measures are reconciled to GAAP figures in Apollo's earnings presentation, which is available on the company's website. Also note that nothing on this call constitutes an offer to sell or a solicitation of an offer to purchase an interest in any Apollo fund. I will now turn the call over to Noah Gunn, Global Head of Investor Relations.

Great. Thanks, operator. And welcome again, everyone, to our call. As usual, joining me to discuss our results are Marc Rowan, CEO, Jim Zelter, President, and Martin Kelly, CFO. Earlier this morning, we published our earnings release and financial supplement on the investor relations portion of our website. As you can see, our second quarter results demonstrate the momentum we are seeing across our business. We generated record fee-related earnings of $785 million, or $1.26 per share, and record spread-related earnings of $877 million, or $1.41 per share. Combined, these core earnings streams drove total earnings or adjusted net income of $1.3 billion, or $2.11 per share. Across key business drivers, including investment performance, origination, and capital formation, These results highlight the tangible execution we're delivering against our business plan and the targets we've set. I'll now turn it over to Marc. Thanks, Noah, and good morning.