Apollo Global Management Mergers and Acquisitions Presentation Deck
Athene is Capitalized for Growth
1.
2.
3.
Athene Deployable Capital & Dry Powder at 12/31/20
Excess Equity Capital
Incremental Debt Capacity¹
12.7% debt / capital at 12/31/20 vs. AA-/A+ rated companies at 25.1%
Undrawn Strategic 3rd Party Capital (ADIP)
Deployable Capital ²
Incremental Alts Capacity ³
Dry Powder
$3.5bn
2.5bn
1.7bn
$7.7bn
3.1bn
Untapped debt capacity assumes capacity of 25% debt to capitalization and is subject to general availability and market conditions. AA-/A+ Rated Companies metrics as of September 30, 2020 per SNL Financial. AA-/A+ Rated
Companies are: PFG (A+), PRU (AA-), MET (AA-) and GL (A+).
As disclosed publicly in Q4 2020 by Athene.
Implied based on 5% alternatives allocation applied to estimated consensus gross invested assets for 12/31/21E less 12/31/20 gross alternatives balance.
APOLLO
$10.8bn
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