Apollo Global Management LLC (APO), the private-equity firm run by Leon Black, is considering seeking approval to raise the limit on its next flagship fund after investors expressed interest in putting in as much as $20 billion, according to two people with knowledge of the matter.
A 1.5% Management Fee will generate 300mm per year in management fees until the investment period ends. They have enough financial scale to drop a fair amount to the bottom line. Figure 50% so 150mm on 330mm shares gives shareholders 50cent dividend until 20% profits share kicks in. Nice!
"The Board of Directors has declared a quarterly distribution of $0.16 per common unit to holders of record at the close of business on August 19, 2013, payable on August 30, 2013. Year-to-date, the Board of Directors has declared $0.32 in distributions per common unit. Carlyle has generated $1.00 in year-to-date after-tax Distributable Earnings per common unit."