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

November 4, 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 November 4, 2016, Apollo Global Management, LLC (the “Company”) filed its quarterly report on Form 10-Q as of and for the three and nine month period ended September 30, 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 9.01Financial 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: November 4, 2016	By:	/s/ Chris Weidler
		Chris Weidler
		Chief Accounting Officer

EXHIBIT INDEX

Exhibit No.	Description
Exhibit 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 and nine months ended September 30, 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 September 30, 2016
	Total Apollo Operating Group Consolidated			VIE & Consolidated Funds			Other (1)			Total Apollo Global Management, LLC Consolidated
Statement of Financial Data	(dollars in thousands)
Assets:
Cash and cash equivalents	$	922,217		$	—		$	4,715		$	926,932
Cash and cash equivalents held at consolidated funds	—			6,014			—			6,014
Restricted cash	4,776			—			—			4,776
Investments	1,470,080			14,622			(93,704		)	1,390,998
Assets of consolidated variable interest entities:
Cash and cash equivalents	—			53,489			—			53,489
Investments, at fair value	—			946,836			(302		)	946,534
Other assets	—			49,733			—			49,733
Carried interest receivable	993,074			—			(1,259		)	991,815
Due from related parties	568,333			—			(270,614		)	297,719
Deferred tax assets	10,308			—			585,920			596,228
Other assets	105,868			6,653			(89		)	112,432
Goodwill	88,852			—			—			88,852
Intangible assets, net	24,693			—			—			24,693
Total Assets	$	4,188,201		$	1,077,347		$	224,667		$	5,490,215
Liabilities and Shareholders’ Equity
Liabilities:
Accounts payable and accrued expenses	$	116,277		$	—		$	—		$	116,277
Accrued compensation and benefits	122,143			—			—			122,143
Deferred revenue	204,516			—			—			204,516
Due to related parties	153,834			—			507,681			661,515
Profit sharing payable	466,055			—			—			466,055
Debt	1,355,994			—			—			1,355,994
Liabilities of consolidated variable interest entities:
Debt, at fair value	—			882,884			(44,180		)	838,704
Other liabilities	—			54,934			(133		)	54,801
Due to related parties	—			1,995			(1,995		)	—
Other liabilities	58,189			1,156			—			59,345
Total Liabilities	2,477,008			940,969			461,373			3,879,350
Shareholders’ Equity:
Apollo Global Management, LLC shareholders' Equity:
Additional paid in capital	—			—			1,876,342			1,876,342
Accumulated deficit	916,000			28,933			(2,092,731		)	(1,147,798		)
Accumulated other comprehensive income (loss)	(4,312		)	(1,754		)	616			(5,450		)
Total Apollo Global Management, LLC shareholders’ equity	911,688			27,179			(215,773		)	723,094
Non-Controlling Interests in consolidated entities	6,234			109,199			(20,933		)	94,500
Non-Controlling Interests in Apollo Operating Group	793,271			—			—			793,271
Total Shareholders’ Equity	1,711,193			136,378			(236,706		)	1,610,865
Total Liabilities and Shareholders’ Equity	$	4,188,201		$	1,077,347		$	224,667		$	5,490,215

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

	For the Nine Month Ended September 30, 2016
	Total Apollo Operating Group Consolidated			VIE & Consolidated Funds			Other (1)			Total Apollo Global Management, LLC Consolidated
Statement of Operating Data	(dollars in thousands)
Revenues:
Advisory and transaction fees from related parties, net	$	102,699		$	—		$	—		$	102,699
Management fees from related parties	777,973			(70		)	(2,732		)	775,171
Carried interest income from related parties	407,134			—			—			407,134
Total Revenues	1,287,806			(70		)	(2,732		)	1,285,004
Expenses:
Compensation and benefits:
Salary, bonus and benefits	290,013			—			—			290,013
Equity-based compensation	74,203			—			—			74,203
Profit sharing expense	179,767			—			—			179,767
Total Compensation and Benefits	543,983			—			—			543,983
Interest expense	30,505			—			—			30,505
General, administrative and other	92,759			192			19			92,970
Professional fees	50,955			—			—			50,955
Occupancy	29,221			—			—			29,221
Placement fees	5,781			—			—			5,781
Depreciation and amortization	14,139			—			—			14,139
Total Expenses	767,343			192			19			767,554
Other Income:
Net gains from investment activities	49,360			927			—			50,287
Net gains (loss) from investment activities of consolidated variable interest entities	—			(1,218		)	4,035			2,817
Income from equity method investments	65,821			—			(1,465		)	64,356
Interest income	3,271			1,106			(1,304		)	3,073
Other income, net	485			—			—			485
Total Other Income	118,937			815			1,266			121,018
Income before income tax provision	639,400			553			(1,485		)	638,468
Income tax provision	(11,715		)	—			(50,793		)	(62,508		)
Net Income	627,685			553			(52,278		)	575,960
Net income (loss) attributable to Non-controlling Interests	(340,990		)	913			—			(340,077		)
Net Income Attributable to Apollo Global Management, LLC	$	286,695		$	1,466		$	(52,278	)	$	235,883

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

	For the Three Month Ended September 30, 2016
	Total Apollo Operating Group Consolidated			VIE & Consolidated Funds			Other (1)			Total Apollo Global Management, LLC Consolidated
Statement of Operating Data	(dollars in thousands)
Revenues:
Advisory and transaction fees from related parties, net	$	29,801		$	—		$	—		$	29,801
Management fees from related parties	275,252			(21		)	(918		)	274,313
Carried interest income from related parties	199,617			—			—			199,617
Total Revenues	504,670			(21		)	(918		)	503,731
Expenses:
Compensation and benefits:
Salary, bonus and benefits	92,591			—			—			92,591
Equity-based compensation	26,163			—			—			26,163
Profit sharing expense	90,152			—			—			90,152
Total Compensation and Benefits	208,906			—			—			208,906
Interest expense	12,832			—			—			12,832
General, administrative and other	32,320			83			—			32,403
Professional fees	11,816			—			—			11,816
Occupancy	9,701			—			—			9,701
Placement fees	1,953			—			—			1,953
Depreciation and amortization	4,646			—			—			4,646
Total Expenses	282,174			83			—			282,257
Other Income:
Net gains from investment activities	17,361			385			—			17,746
Net gains (loss) from investment activities of consolidated variable interest entities	—			(627		)	1,427			800
Income from equity method investments	23,726			—			(513		)	23,213
Interest income	1,326			376			(510		)	1,192
Other income (loss), net	(40		)	—			—			(40		)
Total Other Income	42,373			134			404			42,911
Income before income tax provision	264,869			30			(514		)	264,385
Income tax provision	(4,419		)	—			(25,248		)	(29,667		)
Net Income	260,450			30			(25,762		)	234,718
Net income (loss) attributable to Non-controlling Interests	(140,582		)	483			—			(140,099		)
Net Income Attributable to Apollo Global Management, LLC	$	119,868		$	513		$	(25,762	)	$	94,619

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