Apollo Sees Assets Top $1 Trillion for the First Time Ever (2)

Apollo Global Management Inc. eclipsed $1 trillion of assets under management on record first-quarter inflows and reported earnings that beat Wall Street estimates.

Adjusted net income rose 8% from a year earlier to $1.21 billion, or $1.94 per share, the New York-based alternative asset manager said in a statement Tuesday. That surpassed the $1.88 average estimate of analysts surveyed by Bloomberg.

Apollo is pushing to become one of the largest underwriters on Wall Street. Inflows totaled $115 billion in the quarter and $300 billion over the past 12 months, according to the statement. By contrast, Blackstone Inc. took in $68.5 ...