Apollo Projects $10 Billion of Annual Earnings in Five Years (1)

Apollo Global Management Inc. expects to generate $10 billion of annual earnings across its asset management and retirement businesses by 2029, driven by investor demand for private credit and annuities.

Fee-related earnings are forecast to grow 20% on average annually for the next five years, while earnings at its Atheneinsurance arm will increase 10%, Apollo said Tuesday in an investor presentation.

Marc Rowan

Apollo Chief Executive Officer Marc Rowan touted retirement, wealth and infrastructure — including the transition to renewable energy — as the new tailwinds that will drive the firm’s growth.

“At the end of the day, private will ...