8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

May 10, 2016

Date of Report (Date of earliest event reported)

Apollo Global Management, LLC

(Exact name of registrant as specified in its charter)

Delaware	001-35107	20-8880053
(State of Incorporation)	(Commission File Number)	(IRS Employer
		Identification Number)
	9 West 57th Street, 43rd Floor
	New York, New York 10019
	(Address of principal executive offices) (Zip Code)

(212) 515-3200

(Registrant’s telephone number, including area code)

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01 Regulation FD Disclosure.

On May 10, 2016, Apollo Global Management, LLC (the “Company”) filed its quarterly report on Form 10-Q as of and for the three month period ended March 31, 2016.  Pursuant to that certain indenture, dated as of May 30, 2014, as supplemented, among Apollo Management Holdings, L.P. (“AMH”), the guarantors party thereto (collectively with AMH, the “Credit Parties”) and Wells Fargo Bank, National Association, as trustee, attached as Exhibit 99.1 is a copy of the unaudited reconciliation indicating the differences between the financial information of the Company and the financial information of the Credit Parties and their subsidiaries on a combined and consolidated basis, taken as a whole.

The information included in this Current Report on Form 8-K (including the exhibit hereto) is being furnished under Item 7.01, “Regulation FD Disclosure” and Item 9.01 “Financial Statements and Exhibits” of Form 8-K.  As such, the information (including the exhibit) herein shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be incorporated by reference into a filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01  Financial Statements and Exhibits.

(d)       Exhibits

Exhibit No.	Description
99.1	Unaudited reconciliation of financial data.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	APOLLO GLOBAL MANAGEMENT, LLC
Date:  May 10, 2016	By:	/s/ Chris Weidler
		Chris Weidler
		Chief Accounting Officer

EXHIBIT INDEX

Exhibit No.	Description
99.1	Unaudited reconciliation of financial data.

EX-99.1

EXHIBIT 99.1

UNAUDITED RECONCILIATION OF FINANCIAL DATA

The following tables present the historical unaudited financial information for the Apollo Operating Group as of and for the three months ended March 31, 2016. The Apollo Operating Group does not report audited or unaudited financial information on a stand-alone basis. Accordingly, the financial data presented herein for the Apollo Operating Group has been reconciled to Apollo Global Management, LLC’s financial statements for the relevant periods.

	As of March 31, 2016
	Total Apollo Operating Group Consolidated			VIE & Consolidated Funds			Other (1)			Total Apollo Global Management, LLC Consolidated
	(dollars in thousands)
Statement of Financial Data
Assets:
Cash and cash equivalents	$	537,945		$	-		$	4,538		$	542,483
Cash and cash equivalents held at consolidated funds		-			6,920			-			6,920
Restricted cash		5,356			-			-			5,356
Investments		1,208,361			24,066			(98,868	)		1,133,559
Assets of consolidated variable interest entities:
Cash and cash equivalents		-			33,133			-			33,133
Investments, at fair value		-			964,099			(306	)		963,793
Other assets		-			59,582			-			59,582
Carried interest receivable		490,403			-			-			490,403
Due from affiliates		538,368			-			(276,465	)		261,903
Deferred tax assets		11,532			-			638,643			650,175
Other assets		88,912			7,664			(100	)		96,476
Goodwill		88,852			-			-			88,852
Intangible assets, net		28,132			-			-			28,132
Total Assets	$	2,997,861		$	1,095,464		$	267,442		$	4,360,767
Liabilities and Shareholders’ Equity
Liabilities:
Accounts payable and accrued expenses	$	98,661		$	-		$	-		$	98,661
Accrued compensation and benefits		50,131			-			-			50,131
Deferred revenue		175,536			-			-			175,536
Due to affiliates		88,092			-			506,162			594,254
Profit sharing payable		257,504			-			-			257,504
Debt		1,046,012			-			-			1,046,012
Liabilities of consolidated variable interest entities:
Debt, at fair value		-			878,306			(43,688	)		834,618
Other liabilities		-			74,172			(140	)		74,032
Due to affiliates		-			735			(735	)		-
Other liabilities		36,042			6,983			-			43,025
Total Liabilities	$	1,751,978		$	960,196		$	461,599		$	3,173,773
Shareholders’ Equity:
Apollo Global Management, LLC shareholders’ Equity:
Additional paid in capital		-			-			1,957,692			1,957,692
Accumulated deficit		693,378			34,758			(2,131,390	)		(1,403,254	)
Accumulated other comprehensive (loss) income		(3,802	)		(1,581	)		305			(5,078	)
Total Apollo Global Management, LLC shareholders’ equity		689,576			33,177			(173,393	)		549,360
Non-Controlling Interests in consolidated entities		7,673			102,091			(20,764	)		89,000
Non-Controlling Interests in Apollo Operating Group		548,634			-			-			548,634
Total Shareholders’ Equity		1,245,883			135,268			(194,157	)		1,186,994
Total Liabilities and Shareholders’ Equity	$	2,997,861		$	1,095,464		$	267,442		$	4,360,767

(1) Includes eliminations for VIE and Fund consolidation and entities not included in the Apollo Operating Group.

	For the Three Month Ended March 31, 2016
	Total Apollo Operating Group Consolidated			VIE & Consolidated Funds			Other (1)			Total Apollo Global Management, LLC Consolidated
	(dollars in thousands)
Statement of Operating Data:
Revenues:
Advisory and transaction fees from affiliates, net	$	7,999		$	-		$	-		$	7,999
Management fees from affiliates		234,447			(31	)		(621	)		233,795
Carried interest income (loss) from affiliates		(120,968	)		-			-			(120,968	)
Total Revenues		121,478			(31	)		(621	)		120,826
Expenses:
Compensation and benefits:
Salary, bonus and benefits		97,234			-			-			97,234
Equity-based compensation		14,002			-			-			14,002
Profit sharing expense		(37,605	)		-			-			(37,605	)
Total Compensation and Benefits		73,631			-			-			73,631
Interest expense		7,873			-			-			7,873
General, administrative and other		27,691			34			19			27,744
Professional fees		16,434			-			-			16,434
Occupancy		9,822			-			-			9,822
Placement fees		1,764			-			-			1,764
Depreciation and amortization		4,631			-			-			4,631
Total Expenses	$	141,846		$	34		$	19		$	141,899
Other  Income (Loss):
Net gains (loss) from investment activities		(56,498	)		29			-			(56,469	)
Net gains (loss) from investment activities of consolidated variable interest entities		-			(63	)		1,382			1,319
Income (loss) from equity method investments		(3,528	)		-			(289	)		(3,817	)
Interest income (loss)		1,006			339			(760	)		585
Other loss, net		(253	)		-			-			(253	)
Total Other Income (Loss)		(59,273	)		305			333			(58,635	)
Income (loss) before income tax (provision) benefit		(79,641	)		240			(307	)		(79,708	)
Income tax (provision) benefit		951			-			4,196			5,147
Net Income (Loss)		(78,690	)		240			3,889			(74,561	)
Net (income) loss attributable to Non-Controlling Interests		41,685			48			-			41,733
Net Income (Loss) Attributable to Apollo Global Management, LLC	$	(37,005	)	$	288		$	3,889		$	(32,828	)

(1) Includes eliminations for VIE and Fund consolidation and entities not included in the Apollo Operating Group.