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'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.

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.