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 5, 2017

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))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition

period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 7.01 Regulation FD Disclosure.

On May 5, 2017, Apollo Global Management, LLC (the “Company”) filed its quarterly report on Form 10-Q as of and for the three months ended March 31, 2017. 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: May 5, 2017	By:	/s/ Martin Kelly
		Martin Kelly
		Chief Financial 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 months ended March 31, 2017. 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, 2017
	Total Apollo Operating Group Consolidated (1)			VIE & Consolidated Funds			Other (2)			Total Apollo Global Management, LLC Consolidated
Statement of Financial Data	(dollars in thousands)
Assets:
Cash and cash equivalents	$	1,077,848		$	—		$	6,370		$	1,084,218
Cash and cash equivalents held at consolidated funds	—			7,880			—			7,880
Restricted cash	4,946			—			—			4,946
Investments	1,641,029			9,602			(74,944		)	1,575,687
Assets of consolidated variable interest entities:
Cash and cash equivalents	—			60,086			—			60,086
Investments, at fair value	—			991,339			(286		)	991,053
Other assets	—			55,268			—			55,268
Carried interest receivable	1,422,707			—			(1,847		)	1,420,860
Due from related parties	545,960			—			(296,079		)	249,881
Deferred tax assets	9,342			—			552,182			561,524
Other assets	140,110			345			(153		)	140,302
Goodwill	88,852			—			—			88,852
Intangible assets, net	21,006			—			—			21,006
Total Assets	$	4,951,800		$	1,124,520		$	185,243		$	6,261,563
Liabilities and Shareholders’ Equity
Liabilities:
Accounts payable and accrued expenses	$	71,889		$	—		$	281		$	72,170
Accrued compensation and benefits	54,257			—			—			54,257
Deferred revenue	171,267			—			—			171,267
Due to related parties	92,433			—			506,542			598,975
Profit sharing payable	634,668			—			—			634,668
Debt	1,353,572			—			—			1,353,572
Liabilities of consolidated variable interest entities:
Debt, at fair value	—			839,231			(41,903		)	797,328
Other liabilities	—			127,833			(153		)	127,680
Due to related parties	—			2,615			(2,615		)	—
Other liabilities	96,079			6,187			1,589			103,855
Total Liabilities	2,474,165			975,866			463,741			3,913,772
Shareholders’ Equity:
Apollo Global Management, LLC shareholders' equity:
Preferred shares (11,000,000 units issued and outstanding as of March 31, 2017)	264,683			—			—			264,683
Additional paid in capital	—			—			1,763,146			1,763,146
Accumulated deficit	1,170,618			14,884			(2,024,188		)	(838,686		)
Accumulated other comprehensive income (loss)	(12,957		)	(2,849		)	4,003			(11,803		)
Total Apollo Global Management, LLC shareholders’ equity	1,422,344			12,035			(257,039		)	1,177,340
Non-Controlling Interests in consolidated entities	5,731			136,619			(21,459		)	120,891
Non-Controlling Interests in Apollo Operating Group	1,049,560			—			—			1,049,560
Total Shareholders’ Equity	2,477,635			148,654			(278,498		)	2,347,791
Total Liabilities and Shareholders’ Equity	$	4,951,800		$	1,124,520		$	185,243		$	6,261,563

(1) Includes Apollo Principal Holdings XII, L.P. that became a credit party on April 13, 2017.

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

	For the Three Months Ended March 31, 2017
	Total Apollo Operating Group Consolidated			VIE & Consolidated Funds			Other (1)			Total Apollo Global Management, LLC Consolidated
Statement of Operating Data	(dollars in thousands)
Revenues:
Management fees from related parties	$	270,276		$	—		$	(733	)	$	269,543
Advisory and transaction fees from related parties, net	15,067			—			—			15,067
Carried interest income (loss) from related parties	359,006			—			(65		)	358,941
Total Revenues	644,349			—			(798		)	643,551
Expenses:
Compensation and benefits:
Salary, bonus and benefits	101,613			—			—			101,613
Equity-based compensation	23,107			—			—			23,107
Profit sharing expense	144,324			—			—			144,324
Total Compensation and Benefits	269,044			—			—			269,044
Interest expense	12,999			—			—			12,999
General, administrative and other	62,038			—			2			62,040
Placement fees	1,905			—			—			1,905
Total Expenses	345,986			—			2			345,988
Other Income (Loss):
Net gains from investment activities	34,490			27			—			34,517
Net gains from investment activities of consolidated variable interest entities	—			3,068			1,040			4,108
Income (loss) from equity method investments	39,147			—			(594		)	38,553
Interest income	1,029			16			(242		)	803
Other income, net	18,647			—			—			18,647
Total Other Income	93,313			3,111			204			96,628
Income (loss) before income tax (provision) benefit	391,676			3,111			(596		)	394,191
Income tax (provision) benefit	(5,396		)	—			(33,765		)	(39,161		)
Net Income (Loss)	386,280			3,111			(34,361		)	355,030
Net (income) loss attributable to Non-controlling Interests	(207,317		)	(2,517		)	—			(209,834		)
Net Income (Loss) Attributable to Apollo Global Management, LLC	$	178,963		$	594		$	(34,361	)	$	145,196

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