Apollo Global Management Inc. /zigman2/quotes/203829595/composite APO -2.35% shares rose 2% in pre-market trades on Tuesday after the firm announced 2026 financial targets of $1 trillion in assets under management and doubling fee related earnings of $2.8 billion. The private equity firm said its pending merger with its Athene Holding Ltd. /zigman2/quotes/201199327/composite ATH -2.43% insurance business will push its distributable earnings up to $9 a share by 2026, up from $5.50 a Share in 2022. Analyst currently estimate 2022 earnings of $4.56 a share for Apollo, according to a FactSet survey. Separately, Athene said Monday it paid an undisclosed sum to Warburg Pincus for a majority interest in mortgage lender Newfi. The investment in Newfi will be managed by Apollo. Founder and CEO Steve Abreu will continue to lead Newfi and will retain his equity position. Shares of Apollo are up 39.4% this year, compared to an increase of 19.5% by the S&P 500.