Conversations with Tyler Marc Rowan on Financial Market Evolution and University Governance
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Mar 6, 2024 
Marc Rowan, co-founder and CEO of Apollo Global Management, shares keen insights on navigating rising interest rates and rethinking liquidity in finance. He explores the unique challenges of managing liabilities in insurance, the evolving role of crypto in American markets, and reflects on university governance faults. Rowan also highlights hiring practices that value cultural fit over conventional metrics, and discusses his passion for modern architecture. Tune in for an engaging mix of finance, education, and personal anecdotes!
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Interest Rate Impact on Apollo
- Apollo, a $650B asset manager, thrives in higher rate environments.
- Their diverse portfolio, with $500B in credit and $150B in equity, allows flexibility.
Maturity Matching
- Unlike banks that borrow short and lend long, Apollo's unique structure focuses on long-term investments.
- Half of their funds come from investors without fixed maturities, and the other half from insurers who borrow and lend long.
Insurance Industry Challenges
- Insurance industry problems stem from poor liability choices, not asset management.
- Examples include mispricing risks like asbestos, D&O insurance, and Japanese earthquake risk.