Apollo Global Management, Inc. is a private equity firm specializing in investments in credit, private equity and real estate markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions. The firm provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients. It also manages real estate funds and private equity funds for its clients. The firm invests in the fixed income and alternative investment markets across the globe. Its fixed income investments include income-oriented senior loans, bonds, collateralized loan obligations, structured credit, opportunistic credit, non-performing loans, distressed debt, mezzanine debt, and value oriented fixed income securities. The firm seeks to invest in chemicals, commodities, consumer and retail, oil and gas, metals, mining, agriculture, commodities, distribution and transportation, financial and business services, manufacturing and industrial, media distribution, cable, entertainment and leisure, telecom, technology, natural resources, energy, packaging and materials, and satellite and wireless industries. It also focuses on clean energy, sustainable industry, climate solutions, energy transition, industrial decarbonization, sustainable mobility, sustainable resource use, and sustainable real estate. It seeks to invest in companies based in across Africa, North America with a focus on United States, and Europe. The firm also makes investments outside North America, primarily in Western Europe and Asia. It employs a combination of contrarian, value, and distressed strategies to make its investments. The firm seeks to make investments in the range of $75 million and $1500 million. The firm seeks to invest in companies with Enterprise value between $750 million to $2500 million. The firm conducts in-house research to create its investment portfolio. It seeks to acquire minority and majority positions in its portfolio companies. Apollo Global Management, Inc. was founded in 1990 and is headquartered in New York, New York with additional offices in North America, Asia, India and Europe.

Apollo Global Management looks like a company with strong scalability, but with a notable disconnect between price and the quality of current earnings. Revenue and assets have grown over the recent periods, which supports the long-term business story and points to an expanding capital management base. At the same time, net income in TTM is effectively absent, and net profit margin, ROE, and ROA have dropped sharply versus previous periods, which weakens the quality of the current valuation. Operating margin and operating income have also declined compared with stronger quarters, so the short-term earnings trend looks weaker than a year ago. On the valuation side, the stock looks expensive: P/E is significantly above the industry median, P/B and especially P/FCF are also elevated, leaving limited room for further re-rating without earnings acceleration. P/S is closer to the median, but that is not enough to offset weak profitability and the high valuation on earnings and cash flow. The debt burden does not look critical overall, with debt/equity around the industry level, and current liquidity has even improved, but the quick ratio remains zero, which is a structural warning for investors. Dividend yield is rising, which supports the investment case for an income portfolio, but the yield itself is still modest and does not offset the revaluation risk. Net worth, equity, and cash on hand are all moving positively, and gross margin is high, but in Apollo’s case this partly reflects the nature of the business rather than a guarantee of sustainably high net returns. Overall, the fundamentals remain solid, but not strong enough to justify the current market premium without a discount for weak profitability and high multiples. For an investor, this implies a cautious view: the business is large and financially stable, but the valuation already reflects a lot of optimism, while current profitability has yet to justify such a high price.

Apollo Global Management, Inc. (New)

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Слабый индекс, значительно упал. Рынок на стороне быков.

Weak index, significantly down. The market is on the bulls' side.

Средний индекс, значительно вырос. Увеличился приток средств в лонги.

Medium index, significantly up. The inflow of funds into longs has increased.

Strong scale and asset growth are combined with an expensive valuation and declining profitability; the fundamentals justify a cautious rather than aggressive re-rating.

Franklin Resources Inc. BEN is scheduled to report third-quarter fiscal 2026 results (ended June 30) on July 31, 2026, before market open. BEN’s quarterly earnings and revenues are anticipated to have increased from the year-ago reported levels.
In the last reported quarter, Franklin's earnings surpassed the Zacks Consensus Estimate. The company's results benefited from higher revenues. However, lower assets under management (AUM) and higher expenses acted as headwinds.
BEN’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average earnings surprise of 19%.
Franklin Resources, Inc. Price and EPS Surprise
Franklin’s Q3 Earnings & Sales Estimates
The Zacks Consensus Estimate for BEN’s earnings of 66 cents per share has remained unchanged over the past seven days. The figure indicates a rise of 34.7% from the year-ago quarter’s actual.
The consensus estimate for sales is pegged at $2.27 billion, suggesting a year-over-year rise of 9.7%.
Key Factors & Estimates for BEN in Q3
In the April-June quarter, the S&P 500 Index advanced 14.5%, reflecting a strong recovery in market performance. The equity markets benefited from improved investor sentiment despite geopolitical uncertainty and elevated inflation rates. The fixed-income market performance remained relatively resilient. As a result, Franklin's performance for the quarter ended in June is likely to have benefited from strong equity market gains, while the resilience in fixed-income markets probably provided additional support.
Amid the favorable market conditions, BEN is likely to have continued to record net inflows in the fiscal third quarter. Per the monthly metrics data published by Franklin, its preliminary total AUM as of June 30, 2026, was $1.79 trillion compared with $1.78 trillion as of May 31, 2026. The June-end AUM increase reflected long-term net inflows of $9 billion, partially offset by the net impact of markets, distributions and other.
Additionally, while the private markets continued to face headwinds from a muted exit environment and cautious institutional capital deployment, improving deal activity and favorable market performance are likely to have supported AUM growth in the fiscal third quarter. The Zacks Consensus Estimate for the fiscal third-quarter AUM is pegged at $1.8 trillion, indicating a 6.2% rise from the prior quarter’s actual.
The Zacks Consensus Estimate for investment management fees is pegged at $1.8 billion, indicating a sequential decline of 2.4%.
The consensus estimate for sales and distribution fees of $411.7 million indicates a 3.8% rise from the prior-quarter reported figure.
The consensus estimate for shareholder servicing fees of $67.4 million suggests a 2.4% decline from the prior-quarter actual.
The Zacks Consensus Estimate for other revenues is pegged at $11.1 million, implying a 10.5% sequential growth.
What Our Model Predicts for BEN
Our proven model predicts an earnings beat for BEN this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is exactly the case here.
You can uncover the best stocks before they are reported with our Earnings ESP Filter.
Earnings ESP: Franklin has an Earnings ESP of +1.14%.
Zacks Rank: BEN currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings Dates & Expectations of BEN’s Peers
T. Rowe Price Group, Inc. TROW is scheduled to announce second-quarter 2026 numbers on July 31.
Over the past seven days, the Zacks Consensus Estimate for TROW’s quarterly earnings has been unchanged at $2.52. The figure implies a rise of 12.5% from the prior-year quarter’s actual.
Apollo Global Management APO is slated to report second-quarter 2026 results on Aug. 4.
Over the past week, the Zacks Consensus Estimate for APO’s quarterly earnings has been revised downward to $2.18. The figure implies a rise of 13.5% from the prior-year quarter’s reported number.
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.
See Stocks Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Favorable Markets, Higher AUM Balance to Aid Franklin's Q3 Earnings

Key Points
Realty Income has extended its dividend growth streak to 115 quarters in a row.
The REIT has secured several deals to expand its private capital ecosystem this year.
That strategy should drive accelerated earnings and dividend growth going forward.
The S&P 500 is up about 9% year-to-date, putting it on track for another year of double-digit gains. That strong return is a high hurdle for a dividend-paying stock to overcome. However, that's just what Realty Income (NYSE: O) has done this year. The real estate investment trust (REIT) has gained over 16.5%, while its dividend has driven the total return to more than 19.5%.
Here's what's driving this unstoppable dividend's stock's market-crushing total returns in 2026.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
135 times (and counting)
Realty Income's main draw is its dividend income. The REIT pays a monthly dividend that currently yields about 4.9% (roughly four times the S&P 500's 1% dividend yield). That high-yielding dividend has proven unstoppable over the years. Realty Income has declared 673 consecutive monthly dividends throughout its history. The REIT has raised its payout 135 times since its public market listing in 1994, including for the past 115 consecutive quarters, growing it at a 4.1% compound annual rate.
The primary factor driving dividend growth is new investments. Realty Income buys billions of dollars in income-producing real estate each year, which grows its adjusted funds from operations (AFFO) per share. The REIT currently expects to invest about $9.5 billion this year (up from $6.2 billion last year), which should grow its AFFO to $4.41-$4.44 per share, a 3% to 3.7% increase from last year.
Securing partners to enhance its growth
Realty Income's unstoppable dividend isn't the main reason it's crushing the S&P 500 this year. The primary catalyst is its progress in building a private capital ecosystem. This strategy will enable it to accelerate AFFO per share growth with capital-light revenue, reduce its reliance on the public equity market, and expand its investment opportunities. This platform currently consists of four vehicles:
U.S. Core Plus Fund: The REIT launched a private capital fund to generate fee-based income, enhancing returns and increasing the amount of capital it can invest.
GIC strategic partnership: Realty Income formed a strategic partnership with GIC. They will form a joint venture (JV) focused on high-quality build-to-suit logistics development projects. GIC also became a cornerstone investor in the U.S. Core Plus Fund. Meanwhile, Realty Income agreed to a construction financing and take-out purchase agreement of a $200 million build-to-suit industrial portfolio in Mexico (its first investment in the country).
Apollo strategic partnership: Apollo-managed funds will invest $1 billion into a JV that will own a diversified portfolio of single-tenant retail properties.
Cloud Capital joint venture: Realty Income is forming a JV with Cloud Capital to invest in hyperscale data centers.
These partnerships provide Realty Income with additional capital to invest in real estate and new investment opportunities. These dual drivers position the REIT to grow AFFO per share faster going forward, which should support continued dividend increases.
Executing its acceleration strategy
Realty Income has made significant progress in building a private capital ecosystem. This strategy should drive faster growth going forward. That's driving up the REIT's share price this year. Despite that higher valuation, it's still a very attractive income investment, given its high yield and unstoppable dividend growth.
Should you buy stock in Realty Income right now?
Before you buy stock in Realty Income, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Realty Income wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $371,842!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,244,783!*
Now, it’s worth noting Stock Advisor’s total average return is 900% — a market-crushing outperformance compared to 207% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of July 21, 2026.
Matt DiLallo has positions in Realty Income. The Motley Fool has positions in and recommends Realty Income. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Meet the Unstoppable Dividend Stock Crushing the S&P 500 in 2026

Key Points
Brookfield Renewable and Realty Income both currently pay high-yielding dividends.
They have an excellent track record of growing their dividends, which should continue.
My top financial goal is to become financially independent. I'll reach financial freedom once my passive income can cover my basic living expenses. That's leading me to buy stocks that pay sustainable dividends that should continue growing.
Two of my top passive income investments are Brookfield Renewable (NYSE: BEPC)(NYSE: BEP) and Realty Income (NYSE: O). I plan to hold both for the next decade. Here's why.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks »
High-powered dividend growth ahead
Brookfield Renewable checks all the boxes for what I seek in a core passive income stock investment:
A high current yield: At over 4.5%, it's well above the S&P 500's roughly 1% yield.
A strong dividend growth track record: Brookfield Renewable has increased its payout by at least 5% annually since 2011.
A fortress financial profile: Brookfield has stable cash flows (90% contracted for an average of 12 years), a comfortable dividend payout ratio (around 75% of its funds from operations (FFO) over the last 12 months), and a strong investment-grade balance sheet (BBB+).
Visible growth profile: It expects to grow its FFO per share by more than 10% annually through at least 2031, which should support dividend growth of 5% to 9% annually.
While Brookfield's current yield is very attractive, the company's growth potential is why I plan to hold it for the next decade. It has multiple growth drivers, including inflation-linked contractual rate increases, margin expansion as existing contracts expire and renew at higher rates, development projects, and acquisitions.
Brookfield has a large pipeline of renewable energy development projects, which should keep it busy for the next decade. For example, it's building over 10.5 gigawatts (GW) of power generation capacity for Microsoft alone between 2026 and 2030. For perspective, Brookfield's current operating capacity is around 47 GW.
The company's high-powered growth engine should enable it to generate strong total returns. With a 4.5%+ yield and a more than 10% annual earnings growth rate, Brookfield could deliver total annual returns in the mid-teens. So, it can grow my passive income and my wealth in the coming decade.
A dependable passive income producer
Realty Income is an ideal passive income investment because it pays a monthly dividend. The real estate investment trust (REIT) also has everything I look for in a core passive income investment:
Yield: Nearly 5%.
Dividend growth: Every year since its IPO in 1994. It has raised its payment 135 times, including for the past 115 consecutive quarters, growing it at a 4.1% compound annual rate.
Financial profile: 100% of its cash flow secured by long-term, triple-net leases, a 75% adjusted FFO payout ratio, and an A3/A- credit rating.
Growth potential: A $14 trillion total addressable market opportunity to invest in net-lease real estate across the U.S. and Europe.
Realty Income has taken several steps over the past year to enhance its ability to continue growing its portfolio and dividend in the coming decade. The REIT is tapping into the massive private market by forming several private capital investment vehicles and strategic partnerships. Over the past year, it launched its U.S. Core Plus Fund and joint ventures with Apollo, GIC, and Cloud Capital. This strategy will enhance returns, provide low-cost equity capital to fund new investments, and create new growth opportunities. For example, one aspect of its strategic partnership with GIC is a construction financing and take-out purchase agreement for a $200 million build-to-suit industrial portfolio in Mexico, its first investment in that country. Meanwhile, its programmatic joint venture with Cloud Capital will enable the REIT to invest in high-quality data centers in the U.S. and Europe.
Anchor income stocks
Brookfield Renewable and Realty Income are two of my foundational income holdings. They pay high-yielding dividends backed by strong financial profiles, providing me with income I can bank on. Meanwhile, they have strong growth track records, which should continue in the coming decade. That's why I plan to hold both for the next 10 years and will likely continue adding to my positions to further grow my passive income.
Should you buy stock in Brookfield Renewable right now?
Before you buy stock in Brookfield Renewable, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Brookfield Renewable wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $371,842!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,244,783!*
Now, it’s worth noting Stock Advisor’s total average return is 900% — a market-crushing outperformance compared to 207% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of July 19, 2026.
Matt DiLallo has positions in Brookfield Renewable, Brookfield Renewable Partners, and Realty Income. The Motley Fool has positions in and recommends Microsoft and Realty Income. The Motley Fool recommends Brookfield Renewable and Brookfield Renewable Partners. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

2 Passive Income Stocks I Plan to Hold for the Next Decade

Key Points
Apollo Global was booted from the Russell 1000 Growth Index in late June.
It was subsequently added to the Russell 1000 Value Index.
Is this now-value stock a good buy after the sell-off?
Apollo Global Management's (NYSE: APO) stock price is down about 15% in recent weeks. The decline is mainly tied to the annual reconstitution of the Russell indexes. Apollo, an alternative asset manager, was removed from the Russell 1000 Growth Index following the latest reconstitution, which took effect on June 26.
In the algorithms that Russell uses to reconstitute its various indexes, Apollo no longer exhibited the traits of a growth stock. Instead, it was deemed a value stock and was moved into the Russell 1000 Value Index.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Right after the rebalancing took effect, Apolloʻs stock price dropped sharply and is now trading at roughly $120 per share, off 18% year to date. But is this an opportunity to buy low on this growth-turned-value stock?
Growth to value
A big reason Apollo stock dropped is that it got kicked out of two massive growth exchange-traded funds (ETFs) -- the $127 billion iShares Russell 1000 Growth ETF (NYSEMKT: IWF) and the $44 billion Vanguard Russell 1000 Growth ETF (NASDAQ: VONG). Losing invested capital from these sizeable funds, literally overnight, can leave a big dent in the stock price.
It did get added to two value ETFs -- the $81 billion iShares Russell 1000 Value ETF (NYSEMKT: IWD) and the $20 billion Vanguard Russell 1000 Value ETF (NASDAQ: VONV). But combined, these two ETFs have almost $75 billion less in assets to invest than the two growth ETFs.
That aside, Apollo Global still has strong fundamentals, and this rebalancing could present an excellent buying opportunity.
Showtime for Apollo?
Apollo stock looks like a good buy right now, with some momentum following a strong first quarter. As an alternative asset manager, it invests in private equity, private debt, and other alternative investments. These assets tend to have a low correlation to stocks, often performing well when stocks don't -- like they did in the first quarter.
In Q1, Apollo had record fee-related income of $728 million, up 30% year over year, while adjusted net income rose 8% to $1.2 billion. Wall Street analysts project 21% revenue growth in 2026 and 14% growth in 2027. Earnings are expected to rise 6% this year and another 20% in 2027.
One concern that contributed to the sell-off was a June 22 Securities and Exchange Commission (SEC) filing that said Apollo was capping redemptions at 5%. This was most likely due to high redemption requests to its flagship fund, Apollo Debt Solutions, totalling 16.8% of the fund. This was sparked by heightened concerns among investors about problems in the private credit market. It's the second quarter in a row that they've put redemption caps in place. While private credit has been resilient, it is something to watch.
Apollo is a good value on a forward earnings basis
Apollo's price-to-earnings (P/E) ratio is high, but that's because it took GAAP (generally accepted accounting principles) losses last quarter due to a high one-time offshore tax-related expense. But on a forward earnings basis, it is relatively cheap, trading at 13 times forward earnings.
Some 73% of Wall Street analysts rate it as a buy, with a median price target of $150 per share. That would suggest 25% upside.
I think reconstitution will benefit investors, as they can now get this value stock at a discount.
Should you buy stock in Apollo Global Management right now?
Before you buy stock in Apollo Global Management, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Apollo Global Management wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $396,542!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,299,961!*
Now, it’s worth noting Stock Advisor’s total average return is 931% — a market-crushing outperformance compared to 210% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of July 16, 2026.
Dave Kovaleski has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Apollo Global Just Got Kicked Out of the Russell Growth Indexes. Is the Forced Selling a Buying Opportunity?

On 7/15/26, Apollo Global Management Inc (new's 6.75% Series A Mandatory Convertible Preferred Stock (Symbol: APO.PRA) will trade ex-dividend, for its quarterly dividend of $0.8438, payable on 7/31/26. As a percentage of APO.PRA's recent share price of $61.08, this dividend works out to approximately 1.38%, so look for shares of APO.PRA to trade 1.38% lower — all else being equal — when APO.PRA shares open for trading on 7/15/26. On an annualized basis, the current yield is approximately 5.45%, which compares to an average yield of 6.77% in the "Financial" preferred stock category, according to Preferred Stock Channel. The chart below shows the one year performance of APO.PRA shares, versus APO:
Below is a dividend history chart for APO.PRA, showing historical dividends prior to the most recent $0.8438 on Apollo Global Management Inc (new's 6.75% Series A Mandatory Convertible Preferred Stock:
In Monday trading, Apollo Global Management Inc (new's 6.75% Series A Mandatory Convertible Preferred Stock (Symbol: APO.PRA) is currently down about 1.3% on the day, while the common shares (Symbol: APO) are off about 1.1%.
Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen »
Further APO.PRA Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Cash Dividend On The Way From Apollo Global Management's Series A Preferred Stock

Key Points
Private credit businesses invest in companies outside public markets.
There are potentially big rewards from making such investments, but there are also material risks.
Historically, only high-net-worth investors and institutions invested in private credit, but that seems set to change.
Private credit sounds fancy, but it really isn't. Essentially, private credit businesses invest in the equity and debt of non-traded businesses. It's roughly similar to what happens in the public stock and bond markets, just without the liquidity that public markets offer. That said, there are material risks for investors to consider before making a private credit investment.
That's going to be increasingly important because private credit investments are likely heading to a 401(k) near you. Here's what to think about before investing in private credit, and a way to profit from the increased availability that doesn't require you to buy a private credit fund. (Hint: Blackstone (NYSE: BX), Apollo Global Management (NYSE: APO), and KKR (NYSE: KKR) all manage private equity investments.)
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Are higher potential returns worth the very real increase in risk?
Private credit invests in businesses that, for whatever reason, are not seeking funding in the public market. Often, the reason is that the company is too small or not profitable enough to tap the capital markets. Investing in early stage companies can offer higher long-term returns. But not every early stage company becomes a winner, and many fall by the wayside.
One particularly troubling issue to consider is the lack of liquidity in private credit markets. When a business is troubled, there may be nobody willing to buy its securities. Those who have invested in it simply end up with nothing. Moreover, during recessions and periods of rising interest rates, some private credit investments can struggle to cover interest payments.
Those are just some of the reasons why private credit has long been the purview of high-net-worth investors and institutions. Small investors who can't afford to risk their capital should think twice before making private credit investments, even if they are available in a 401(k). But many investors are likely to do so, anyway, noting that the 401(k) market is home to $14 trillion in assets, by some estimates. That will have a huge impact on companies that manage private credit funds.
Three options to consider in private credit
Three ways to invest in the private credit space without actually investing in a private credit fund are Blackstone, Apollo Global Management, and KKR. Each of these companies manages money on behalf of others, generating investment fees, with a material portion of their businesses devoted to private credit.
Blackstone is particularly well-positioned because of its long and successful history in private credit. The company's non-investment-grade strategies have returned 9.4% on an annualized basis through multiple credit cycles over the past 20 years. As of the first quarter of 2026, institutional investors and insurance companies accounted for 75% of Blackstone's private credit business, providing a strong foundation for growth as it opens up the platform to other investors. The company boasts over 90 investment strategies, ranging from non-investment-grade to investment-grade, enabling it to offer products that will appeal to a broad range of customers. At the end of the first quarter, the company had $1.3 trillion in assets under management.
Apollo is another well-respected company in the private credit space. The company's asset management operation is complemented by its retirement services business (Athene), which sells products such as annuities. The company's retirement services business typically focuses on investment-grade assets. That provides a strong foundation for the business as it looks to expand into the 401(k) market, with annuity products potentially helping build trust in the more aggressive investment options it offers. At the end of the first quarter, Apollo had just over $1 trillion in assets under management. Notably, Apollo has been working to increase the transparency of the private credit sector. That, too, should help build trust not just for Apollo, but for the entire industry as it enters a potential new growth phase.
KKR is smaller than Blackstone and Apollo, with roughly $760 billion in assets under management at the end of the first quarter. Like Apollo, KKR has an insurance and retirement business (Global Atlantic), which provides a solid foundation and an opportunity to build customer relationships. The company's investments are roughly evenly split between private equity, real estate, and private credit, diversification that could help smooth out its financial results over time. Notably, while the media has been filled with concerns around private credit, KKR's inflows doubled quarter over quarter in the first quarter. That suggests that investors are, indeed, looking to well-respected companies with long histories in the private capital markets as they invest in the space.
An alternative to a private credit investment in your 401(k)
For many, adding private credit to a 401(k) account may be a step beyond the comfort zone. That's not unreasonable. However, that doesn't mean you can't invest in the private credit sector's growth opportunity within the 401(k) market. Companies like Blackstone, Apollo, and KKR are strong options. Given their already large businesses and stature in the private credit market, now, before the 401(k) market cracks open, could be the time for a deep dive.
Should you buy stock in Blackstone right now?
Before you buy stock in Blackstone, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Blackstone wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $407,004!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,244,599!*
Now, it’s worth noting Stock Advisor’s total average return is 924% — a market-crushing outperformance compared to 210% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of July 10, 2026.
Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Blackstone and KKR. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Private Credit Is Coming to 401(k) Plans. These Are the Alternative Asset Managers Set to Cash In.

(RTTNews) - Apollo Global Management, Inc. (APO), a private equity firm, Wednesday announced that it has appointed Paul Miller, the current Chief Executive Officer of Questex to lead the combined company that will be formed when Apollo acquires Emerald Holding, Inc. (EEX), a B2B event organizer, and Questex, LLC, an information and events company.
The previously announced transaction is expected to be completed in the second half of 2026.
Miller has over three decades of experience across the events, information services, and media industries. Prior to Questex, he was the President of Informa's Industry & Infrastructure Intelligence.
Upon transaction close, the current CEO of Emerald, Herv Sedky will serve as a senior advisor to the combined company.
In pre-market activity, APO shares were trading at $131.06, up 0.34% on the New York Stock Exchange.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Apollo Global Appoints Questex CEO Paul Miller To Lead Combined Emerald, Questex Platform

In the latest look at the underlying components of the S&P 500 ordered by largest market capitalization, Apollo Global Management Inc (new (Symbol: APO) has taken over the #184 spot from TE Connectivity plc (Symbol: TEL), according to The Online Investor.
Market capitalization is an important data point for investors to keep an eye on, for various reasons. The most basic reason is that it gives a true comparison of the value attributed by the stock market to a given company's stock. Many beginning investors look at one stock trading at $10 and another trading at $20 and mistakenly think the latter company is worth twice as much — that of course is a completely meaningless comparison without knowing how many shares of each company exist. But comparing market capitalization (factoring in those share counts) creates a true "apples-to-apples" comparison of the value of two stocks. In the case of Apollo Global Management Inc (new (Symbol: APO), the market cap is now $77.95 billion, versus TE Connectivity plc (Symbol: TEL) at $62.08 billion.
Below is a chart of Apollo Global Management Inc (new versus TE Connectivity plc plotting their respective size rank within the S&P 500 over time (APO plotted in blue; TEL plotted in green):
Below is a three month price history chart comparing the stock performance of APO vs. TEL:
Another reason market capitalization is important is where it places a company in terms of its size tier in relation to peers — much like the way a mid-size sedan is typically compared to other mid-size sedans (and not SUV's). This can have a direct impact on which mutual funds and ETFs are willing to own the stock. For instance, a mutual fund that is focused solely on Large Cap stocks may for example only be interested in those companies sized $10 billion or larger. Another illustrative example is the S&P MidCap index which essentially takes the S&P 500 index and "tosses out" the biggest 100 companies so as to focus solely on the 400 smaller "up-and-comers" (which in the right environment can outperform their larger rivals). So a company's market cap, especially in relation to other companies, carries great importance, and for this reason we at The Online Investor find value to putting together these rankings daily.
Examine the full APO market cap history vs. the full TEL market cap history.
At the closing bell, APO is down about 3.3%, while TEL is down about 4.3% on the day Tuesday.
Further APO Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Apollo Global Management Now #184 Largest Company, Surpassing TE Connectivity

Assets under management (AUM) remain one of the most important growth drivers for T. Rowe Price Group TROW, as the company generates the bulk of its revenues from investment advisory fees tied to the AUM levels. As of March 31, 2026, 90.6% of its net revenues were generated from investment advisory fees.
In the first quarter of 2026, T. Rowe Price’s average AUM increased 9.1% year over year to $1.71 trillion, supporting a 5.3% rise in net revenues to $1.86 billion. This highlights how a larger asset base can directly benefit the company’s top line. The AUM balance witnessed a compound annual growth rate (CAGR) of 9.7% over 2011-2025.
AUM Growth Trend
Image Source: T. Rowe Price Group
A key strength for T. Rowe Price is its diversified AUM mix across equities, fixed income, multi-asset products and alternatives. While equity strategies, especially U.S. growth-oriented offerings, continued to face outflows, other asset classes showed resilience. Multi-asset, fixed income and alternative products recorded positive net flows, helping reduce the impacts of weakness in equities. This diversification is important because it gives the company more than one avenue for growth, especially at a time when active equity managers face pressure from the rising popularity of passive products.
TROW is also working to expand its investment capabilities through product innovation and strategic partnerships. Its alternative credit offerings, supported by Oak Hill Advisors, including private credit and flexible credit income products, are aimed at meeting investor demand for income and diversification. These initiatives could help strengthen future AUM growth and reduce the dependence on traditional equity strategies.
However, challenges remain. T. Rowe Price recorded firmwide net outflows of $13.7 billion in the first quarter of 2026, showing that client redemptions are still concerning. Continued pressure in U.S. equity products may weigh on organic growth if inflows in other categories are not strong enough to offset the decline. In addition, stress in private credit markets could dampen investor appetite for alternative credit strategies and increase redemption risks, particularly if concerns around liquidity, valuations, leverage and credit quality intensify.
Overall, TROW’s diversified AUM base remains a meaningful strength. Although equity outflows remain a near-term challenge, growth in multi-asset, fixed income and alternatives could help stabilize revenues. However, the company’s expansion into private credit will require disciplined risk management to sustain investor confidence and support long-term AUM growth.
AUM Performance of Other Asset Managers
Franklin Resources’ BEN AUM witnessed a CAGR of 3.1% over the past five fiscal years (2021-2025), with the rising trend continuing in the first quarter of fiscal 2026. The gain was driven by its efforts to diversify into high-demand asset classes, including alternative investments, and by favorable net flows from its regionally focused distribution model. Strategic acquisitions have also supported AUM growth, enabling Franklin Resources to expand its global footprint and strengthen its non-U.S. business.
Apollo Global Management’s APO AUM saw a CAGR of 19.6% over the past three years (2022-2025), with the uptrend continuing in the first quarter of 2026. The increase in Apollo’s AUM is primarily driven by growth in retirement services client assets, platform subscriptions and new financing facilities. The acquisition of Bridge Investment Group Holding nearly doubled Apollo’s real estate AUM to more than $110 billion. By 2029, Apollo expects its total AUM to reach $1.5 trillion by scaling its private equity business.
TROW’s Price Performance & Zacks Rank
Over the past three months, shares of T. Rowe Price have gained 21.6% compared with the industry’s rise of 10%.
Price Performance
Image Source: Zacks Investment Research
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy)stocks here.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

T. Rowe Price's AUM Growth: Can Diversification Offset Equity Outflows?

The Bank of England (“BoE”) has turned its attention to one of global finance’s fastest-growing sectors, private markets. The BoE has launched a “doomsday” stress test designed to determine whether the rapidly expanding private markets sector can withstand a severe global financial shock. The exercise, described as the first of its kind worldwide, reflects growing regulatory concerns over the increasing role of private credit and private equity in the global financial system.
In the stress test, 46 firms have agreed to take part, including alternative asset managers Apollo Global Management Inc. APO, Ares Management Corp. ARES, Blackstone Inc. BX and KKR & Co. KKR. Also, major banks, which provide leverage across the private markets ecosystem like Barclays and JPMorgan JPM, and asset managers such as BlackRock have also participated.
Here’s Why Private Markets Are Under the Spotlight
Private markets, including private equity, private credit and other non-public investments, have expanded rapidly over the past decade, attracting trillions of dollars from institutional investors seeking higher returns.
But scale changes the risk profile. With global private-market assets estimated at $16 trillion, the sector has become too large to ignore. Regulators are increasingly focused on its limited transparency, complex valuation practices and growing links to the broader financial system. Unlike publicly traded assets, private investments can be difficult to price and may become harder to sell during periods of market stress.
The Financial Stability Board has recently warned of emerging stresses in private credit, which often involves opaque, non-bank lending to mid-sized companies. The BoE is concerned that this opacity could amplify isolated failures into wider financial instability, especially given private equity-backed firms’ significant role in U.K. employment and corporate debt.
The BoE concern is not that private markets are inherently fragile, but that they have not yet been tested through a prolonged downturn at their current scale. Much of the industry’s growth took place during a period of low interest rates, abundant liquidity and strong fundraising. A sustained environment of higher borrowing costs, weaker valuations and tighter refinancing conditions could reveal vulnerabilities that have been hidden in more favorable market conditions.
The BoE’s Stress Test Scenario
The BoE's private markets’ stress test is built around a severe but plausible five-year global recession designed to assess how private equity firms, private credit managers, banks and institutional investors would respond to extreme financial stress. Rather than evaluating the resilience of individual firms, the exercise focuses on identifying vulnerabilities that could threaten the stability of the broader financial system.
The test scenario assumes that U.K. interest rates and inflation both rise to 7% in the first year, while the economy subsequently enters a deep recession, with UK GDP contracting 4% in the second year. During the recovery period, unemployment increases to 7.5%, U.K. equity markets fall 35%, leveraged loan spreads widen by 400 basis points and market volatility rises sharply, with the volatility index reaching around 40. Although the economy is expected to recover, growth remains weak over the following three years, averaging 0.7% annually.
In addition to macroeconomic shocks, the scenario incorporates artificial intelligence (AI)-related risks by assuming higher energy costs, shortages of advanced semiconductors and slower adoption of AI technologies. These factors are intended to test how reduced productivity gains and disruptions to AI-dependent sectors could affect investment portfolios and financial stability.
Participants like Apollo Global, Ares Management, Blackrock, KKR & Co. and JPMorgan are required to evaluate how they would respond to the stress scenario, submit their expected actions and portfolio adjustments, and review market-wide aggregated feedback provided by the BoE. The BoE will then revise and resubmit their responses in a second round.
The BoE will publish only aggregate results, using the exercise to better understand how stress in the private markets could transmit through the broader financial system. Initial findings from the information-gathering phase will be included in the July Financial Stability Report. Interim results from Round 1 will be released later in 2026, with the final report expected in 2027.
Final Takeaways
The BoE’s stress test marks a significant step in expanding regulatory oversight beyond traditional banks to the rapidly growing private markets sector. By simulating an extended period of economic stress, higher interest rates, declining asset values and AI-related disruptions, the exercise aims to identify how risks could spread through an increasingly interconnected financial system.
While the test is not intended to assess the resilience of individual firms, the participation of major firms like BlackRock, KKR & Co., Ares Management, Apollo Global and JPMorgan, the stress test may deliver critical insights into how vulnerable the system may be under severe strain.
As private equity and private credit continue to play a larger role in global finance, the results of this pioneering exercise could shape future regulatory frameworks, risk management practices and transparency standards for the industry. Ultimately, the findings will help regulators better understand whether private markets can remain resilient under extreme conditions or whether additional safeguards are needed to protect broader financial stability.
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum Stocks Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
KKR & Co. Inc. (KKR) : Free Stock Analysis Report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Apollo Global Management, Inc. (New)

Trend

Trend Class

Trend Power

Pattern

EMA

EMA-20

EMA-50

EMA-100

EMA-20

EMA-50

EMA-100

Oscillators

Stochastic

RSI

MACD

Candle pattern type