KindredCast

“There’s Nothing to Celebrate Until We Exit” with Apollo’s Reed Rayman

9 snips
Jan 6, 2025
Reed Rayman, a Partner at Apollo Global Management specializing in tech and media investments, shares insights from his impressive 15-year career. He discusses the dramatic growth of Apollo, highlighting how assets surged from $30 billion to $700 billion. Reed delves into navigating investment strategies during the pandemic and the complexities behind significant deals, like Yahoo's carve-out from Verizon. He also explores the disruptive potential of AI in private equity and shares a lighthearted lightning round revealing his personal interests.
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ANECDOTE

From Goldman To Apollo

  • Reed left Goldman when the GSPS desk was Volcker'd and then joined Apollo in fall 2010.
  • Apollo at the time had roughly $30 billion of AUM and about 150 people.
ADVICE

Be A Generalist Early

  • Work as an associate across sectors and on varied reps to learn from top partners.
  • Prioritize strong teammates over 'sexy' sectors to build durable skills and experience.
INSIGHT

Apollo's Scale Gives A Broader Toolkit

  • Apollo's growth added credit, insurance, and hybrid businesses that expanded its investor toolkit.
  • That scale lets Reed offer buyouts, hybrid solutions, PIPEs, and inventory/receivable financing to corporates.
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