Hackers Breach Apollo Global Amid $1 Trillion Assets Milestone
Apollo Global Management (NYSE:APO) revealed that hackers accessed some of its cloud platforms between July 6 and July 10, exposing sensitive customer data such as names, dates of birth, addresses, and Social Security numbers. The breach occurred just weeks after the firm surpassed $1 trillion in assets under management for the first time. Apollo's second-quarter results showed strong growth with AUM reaching $1.05 trillion and fee-related earnings hitting a record $785 million. CEO Marc Rowan emphasized Apollo’s expanding client base beyond institutional investors, including individuals and 401(k) plans. However, the data breach raises concerns about trust in handling sensitive financial information. The firm is offering free credit monitoring to affected customers but has not found evidence of public exposure or misuse of stolen data yet. The incident adds pressure on Apollo as it seeks broader investor confidence while navigating a challenging fundraising environment and regulatory scrutiny.
Tickers: $APO
Topics: Apollo Global Management assets under management cyberattack data breach