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Apollo s first-quarter earnings surge on strong fee revenue Reuters 5 hrs ago By Chibuike Oguh © Reuters/Kevork Djansezian Marc Rowan takes part in a panel discussion of Credit Markets: What s Next? during the 2014 Milken Institute Global Conference in Beverly Hills By Chibuike Oguh (Reuters) - Apollo Global Management Inc said on Tuesday its first-quarter distributable earnings rose 78%, driven by growing management fees from its sprawling credit business and a surge in asset sales from its private equity portfolio. This was the first quarterly earnings reported by Apollo with co-founder Marc Rowan at the helm as chief executive. He succeeded Leon Black, who left the New York-based firm in March following a review by law firm Dechert of his ties to late financier and convicted sex offender Jeffrey Epstein.

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