Apollo Global Management reported a first-quarter loss, becoming the third publicly traded private-equity firm to take a hit to the value of its investments because of the coronavirus-driven market rout. But the firm’s credit portfolio held up better than the broader market.

Apollo lost $996.2m, or $4.47 a share, in the quarter compared with a profit of $149.1m, or 67 cents a share, during the same period last year. Roughly $3 of the firm’s per-share loss was related to the performance of Athene Holding Ltd., ATH -5.46% a publicly traded insurance company in which Apollo owns a 35% stake. Athene’s stock dropped by roughly half from its recent high in mid-February to the end of the quarter.