Despite Adversity, 5% Surge... What Happened to Wall Street's Alternative Investment Giant

Apollo Global Management Inc. (NYSE: APO) jumped 5.44% on the New York Stock Exchange to close at $115.93, lifting its market capitalization to about $67 billion (roughly ₩90 trillion). In a single day, the firm’s enterprise value climbed by approximately $3.8 billion (around ₩5.2 trillion).

On the same day, U.S. shareholder-rights law firm Hagens Berman announced it had filed a securities class action against Apollo on behalf of investors who purchased shares between May 2021 and February 2026. The suit alleges Apollo made false disclosures regarding its connections to Jeffrey Epstein.

Following the initial reports of Epstein-related ties, Apollo saw nearly $12 billion (about ₩16 trillion) wiped from its market cap over three weeks. More recently, however, the stock has rebounded over 5%, fueled by perceptions of undervaluation and expectations for returns from alternative investments.

Founded in 1990 by Leon Black and others, Apollo Global Management is a leading U.S.-based alternative asset manager with investments in private equity, private credit and real estate. With nearly $1 trillion in assets under management, it ranks among the top global firms in its sector.

Co-founder Mark Rowan now serves as CEO. Under his leadership, Apollo has expanded aggressively into private credit and large-scale acquisition financing. However, the Epstein-related allegations and the resulting litigation have emerged as a significant reputational risk.