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Apollo hit by steep drop in deal profits

Investment firm’s earnings fell in its private equity, credit and real estate segments

Apollo Global Management said Wednesday that its second-quarter earnings fell 21% on a sharp decline in deal profits.

The New York investment firm reported a second-quarter profit of $56.4 or 30 cents a Class A share, down from $71.7 million, or 33 cents a share, during the same period a year ago.

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