$APO Q2:
> AM FRE + 25% YoY
> AM inflows: $38B (!)
> Athene inflows: $22B
> Athene SRE: +6.8% yoy on tighter net spread (8bps)
My main holding out of the Alt GPs picked up during the great private credit crash of March 2026 (RIP)
They will be a major beneficiary of IG credit
