阿波罗全球管理美股招股说明书(2025-11-06版)

$400,000,000 4.600% Senior Notes due 2031Interest payable on January15 and July15, commencing July15, 2026 $350,000,000 5.150% Senior Notes due 2035Interest payable on February12 and August12, commencingFebruary 12, 2026 Apollo Global Management, Inc. (the “Issuer”) is offering $400,000,000 aggregate principal amount of 4.600% Senior Notes due 2031 (the “2031 notes”) and an additional$350,000,000 aggregate principal amount of the Issuer’s 5.150% Senior Notes due 2035 (the “new 2035 notes” and, together with the 2031 notes, the “notes”). The notes of each series will befully and unconditionally guaranteed on a joint and several basis by Apollo Asset Management, Inc., Apollo Principal Holdings A, L.P., Apollo Principal Holdings B, L.P., Apollo PrincipalHoldings C, L.P., AMH Holdings (Delaware), L.P., Apollo Management Holdings, L.P. and any other entity that is required to become a guarantor of the notes as provided under “Descriptionof the Notes—Guarantees” (collectively, the “Guarantors”). The Issuer and the Guarantors are all holding companies, and the notes are not guaranteed by any businesses generating significantfees, any funds managed by subsidiaries of Apollo Global Management, Inc. or by Athene Holding Ltd. (“AHL” and, together with its subsidiaries, “Athene”) and its direct and indirectsubsidiaries. The 2031 notes will mature on January15, 2031 and the new 2035 notes will mature on August12, 2035. We intend to use the net proceeds from the offering of the notes for general corporate purposes. The 2031 notes will bear interest from and including November7, 2025, or from and including the most recent interest payment date to which interest has been paid or duly providedfor, at the annual rate of 4.600%. Interest on the 2031 notes will be payable semi-annually in arrears on January15 and July15 of each year, commencing July15, 2026. The new 2035 noteswill bear interest from and including August12, 2025, at the annual rate of 5.150%. Interest on the new 2035 notes will be payable semi-annually in arrears on February12 and August12 ofeach year, commencingFebruary 12, 2026. See “Description of the Notes—Principal and Interest.” The new 2035 notes offered hereby constitute a further issuance of the Issuer’s 5.150% senior notes due 2035, of which $500,000,000 principal amount was issued on August12, 2025(the “existing 2035 notes”). The new 2035 notes offered hereby will form a single series with, and have identical terms as, the existing 2035 notes (other than the initial offering price and theissue date) and will be fungible with the existing 2035 notes. Upon settlement, the new 2035 notes offered hereby will have the same CUSIP number and will trade fungibly with the existing2035 notes. Immediately after giving effect to the issuance of the new 2035 notes offered hereby, we will have $850,000,000 aggregate principal amount of 5.150% senior notes due 2035outstanding. At any time prior to the maturity date of the notes of a series, the Issuer may redeem all or a portion of the notes of such series at the applicable redemption prices described under“Description of the Notes—Optional Redemption of the Notes.” If a Change of Control Repurchase Event (as defined herein) occurs, the Issuer may be required to offer to purchase the notesof the applicable series from the holders as described in this prospectus supplement under the heading “Description of the Notes—Offer to Repurchase Upon a Change of Control RepurchaseEvent.” The notes and the guarantees will constitute the Issuer’s and the Guarantors’ direct, unsecured and unsubordinated obligations and will rank equally in right of payment with all of theirrespective existing and future unsecured and unsubordinated indebtedness and senior to any of their respective subordinated indebtedness and will be effectively subordinated to all of theirrespective secured indebtedness to the extent of the value of the assets securing that indebtedness, and will be structurally subordinated in right of payment to all existing and futureindebtedness, liabilities and other obligations of each subsidiary of the Issuer and the Guarantors that is not itself the Issuer or a Guarantor. See “Description of the Notes—Ranking.” The 2031 notes are a new issue of securities for which there is no established trading market. The new 2035 notes offered hereby will be a further issuance of, and will be fungiblewith, the existing 2035 notes. The existing 2035 notes are not listed, and we do not intend to list the notes of either series, on any national or international securities exchange or arrange forthe notes of either series to be quoted on any quotation system. For a more detailed description of the notes, see “Description of the Notes.” (1)Plus accrued interest, if any, from November7, 2025 if the settlement occurs after that date, and in the case of the new 2035 notes offered hereby, plus accrued and unpaid interest from, and including, August12,2025, to, but excluding, the