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In Good Company with Nicolai Tangen
HIGHLIGHTS: Marc Rowan - CEO of Apollo
Nov 15, 2024
Marc Rowan, CEO and co-founder of Apollo Global Management, discusses the firm’s meteoric rise from $40 billion to over $700 billion in assets. He dives into how private credit is reshaping the banking landscape and challenges misconceptions about direct lending. The conversation highlights investment strategies, emphasizing the importance of purchase price amid inflated market valuations. Rowan also shares insights on navigating economic risks related to geopolitical tensions and expresses optimism about future work opportunities.
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Quick takeaways
- Apollo's growth from $40 billion to over $700 billion highlights the importance of strategic adaptability in a shifting financial landscape.
- The transition towards index-based strategies raises concerns about active management's viability and the challenges of short-term price discovery in public markets.
Deep dives
The Evolution of Apollo's Business Model
Apollo Global Management has experienced significant growth in assets under management, increasing from $40 billion in 2008 to over $700 billion today. This transformation has been driven not solely by prowess or talent, but by strategic positioning within a changing financial landscape. The firm has adapted by recognizing that private credit encompasses a wide array of assets traditionally viewed as bank products, thereby expanding their market reach. By focusing on value through careful pricing strategies, Apollo effectively navigates the complexities of both private and public credit markets, leveraging opportunities that others might overlook.
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