Due from/to related parties consisted of the following:
| | | | | | | | | | | | | (In millions) | December 31, 2025 | | December 31, 2024 | | Due from Related Parties: | | | | Due from funds1 | $ | 496 | | | $ | 430 | | | Due from portfolio companies | 57 | | | 48 | | | Due from employees and former employees | 110 | | | 106 | | Total Due from Related Parties2 | $ | 663 | | | $ | 584 | | | Due to Related Parties: | | | | | Due to TRA holders | $ | 781 | | | $ | 406 | | | Due to funds | 241 | | | 229 | | | Due to portfolio companies | 40 | | | 75 | | | Total Due to Related Parties | $ | 1,062 | | | $ | 710 | | | | | | 1 Includes $15 million and $27 million as of December 31, 2025 and December 31, 2024, respectively, related to a receivable from a fund in connection with the Company’s sale of a platform investment to such fund. The amount is payable to the Company over five years and is held at fair value. | 2 Includes due from related parties of certain consolidated VIEs. |
The following table summarizes Athene’s investments in Athora:
| | | | | | | | | | | | | (In millions) | December 31, 2025 | | December 31, 2024 | | Investment fund | $ | 1,171 | | | $ | 1,033 | | | Non-redeemable preferred equity and corporate debt securities | 316 | | | 277 | | | Total investment in Athora | $ | 1,487 | | | $ | 1,310 | |
| | | | | | | | | | | | | (In millions) | December 31, 2025 | | December 31, 2024 | | AFS securities | $ | 105 | | | $ | — | | | Investment fund | 226 | | | 178 | | | Term loans receivable | 344 | | | 331 | | | Total investments in VA Capital and Venerable | $ | 675 | | | $ | 509 | |
Athene received capital contributions and paid distributions relating to ACRA of the following:
| | | | | | | | | | | | | | | | | | | | | | | | | Years ended December 31, | | (In millions) | | | | | 2025 | | 2024 | | 2023 | | Contributions from ADIP | | | | | $ | 466 | | | $ | 954 | | | $ | 996 | | | Distributions to ADIP | | | | | (444) | | | (920) | | | (539) | |
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