Alternative asset manager Apollo Global Management reported fourth-quarter profit that exceeded expectations on Tuesday, helped by a strong growth in fees and solid performance in its retirement business.

Apollo Global Management (APO) drew retail chatter on Tuesday after the company topped Wall Street estimates for quarterly profit, backed by a rise in fee earnings. The asset manager reported an adjusted net income of $2.

Apollo Global Management's fourth-quarter profit exceeded expectations, helped by a strong growth in fees and solid performance in its retirement business, sending shares of the company up 4% in premarket trading on Tuesday.