(“AMH”), a subsidiary out of AGM, renting a plane occasionally to possess business explore away from Bank of Utah, maybe not in private ability however, exclusively as the holder trustee (“BOU”), away from a plane beneficially owned by MarCar 5000 LLC (“MarCar”), a friends beneficially belonging to Marc Rowan. For the flights under the book, AMH will pay lease to BOU and you may will pay the expense to employ trip team and you will work the new aircraft. The brand new plans had been authorized by the Disputes Committee of one’s AAM Board considering Apollo’s interest in ensuring the protection and you can defense out of Mr. Rowan to have their business flights to own Apollo. Away from January step one, 2023 due to December 29, 2023, AMH paid off lease out of $2,762,846 within the book and you may paid a lot more will cost you out of $1,910,251 to have trip team, electricity and you may operational expenditures for its business use of the aircraft. Assets for the restricted partnerships and you can limited liability businesses by which AAM operates its enterprises.
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Apollo considers multiple issues to possess choosing just what will be included in the definition of AUM. For example issues are but they are not restricted to help you (1) Apollo’s capability to dictate the new funding choices to own present and you can available assets; (2) Apollo’s capacity to generate income regarding the hidden possessions within the funds; and you may (3) the newest AUM actions you to definitely Apollo spends around otherwise thinks are used because of the other money professionals. Considering the variations in the brand new financing steps and you may formations certainly almost every other choice financing professionals, Apollo’s formula from AUM may differ regarding the computations used by most other financing managers and, as a result, so it level may not be personally similar to similar procedures exhibited because of the most other financing executives. Apollo’s computation along with differs from the manner in which its affiliates registered for the SEC report “Regulatory Possessions Below Management” for the Mode ADV and you will Mode PF in different implies. Apollo uses AUM among the efficiency size of its financing items, and also to screen finance proportions in terms of professional money and you can structure demands. The fresh AGM board of directors variations ad hoc committees out of time to some time and as a result of the thorough needs on the ad hoc panel people, the fresh AGM board from directors provides certain fixed costs to pay ad hoc panel people because of their extra service.
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Certain opinions from the interactions try shared with Apollo’s government party and you will Board out of Directors, while the appropriate. Within the 2023, we and you may clear on our administrators confronted with a major stockholder advisory corporation to know its position to the our software and greatest techniques within the administrator compensation programs and then we engaged with some other big stockholder advisory firm also. In reaction in order to feedback from our stockholders, i increased all of our disclosure to incorporate more info regarding the all of our payment-risk review, fellow class constitution plus the framework of our performance payment agreements.
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