(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.)
By Jonathan Guilford
NEW YORK, Feb 9 (Reuters Breakingviews) - As Apollo nears $1 trln in assets, peers Carlyle, Brookfield and Blackstone are leading a delayed resurgence of activity. The new dawn, however, coincides with AI-fueled panic. Overheated 2021 tech deals would only start the trouble; industry crown jewels are also endangered.
Full view will be published shortly. Follow Jonathan Guilford on X and LinkedIn.
<h3>CONTEXT NEWS</h3>
Apollo Global Management said on February 9 that it generated $1.5 billion in adjusted net income in the fourth quarter of 2025, roughly 21% higher than what analysts were expecting, according to Visible Alpha.
Peer Carlyle on February 6 reported $365 million in after-tax distributable earnings, its comparable metric, up 10% from a year earlier. Blue Owl Capital on February 5 said it generated $383 million in earnings, a 21% increase, while Brookfield Asset Management on February 4 reported $767 million, up 18%. (Editing by Jeffrey Goldfarb; Production by Maya Nandhini)

BXMT

Reuters

Blackstone MortgageTrust

Blackstone

Pro Gbl Listed Pvt

Carlyle

Brookfield Asset

Brookfield

Blue Owl Capital

IQ H Multi-Strategy Tracker

Apollo Global

BREAKINGVIEWS-Buyout barons rise from the ashes into the fire