(Reuters) - Apollo Global Management LLC became the latest private equity group on Friday to report lower fourth-quarter earnings due to mark-to-market valuations of its assets, even as the cash flow from its share of investment profits more than tripled.
Apollo, whose investments include casino operator Caesars Entertainment Corp
ENI fell to $357 million in the fourth quarter from $926 million a year earlier. After-tax ENI per share was 80 cents, down from $2.52 a year ago.
Total realized gains from carried interest -- Apollo's share of the investment profits of its funds -- were up 238 percent to $278 million for the quarter.
A fourth-quarter distribution of 46 cents per Class A share brought Apollo's 2011 dividend to $1.12.
Assets under management were $75 billion at the end of 2011, 15 percent up year-on-year.
(Reporting by Greg Roumeliotis in New York; Editing by Gerald E. McCormick)