Unhedged What is Apollo, anyway?
5 snips
Sep 17, 2024 
Sujeet Indap, Wall Street editor at the Financial Times, and Eric Platt, senior corporate finance correspondent, dive into the intricate world of Apollo Global Management. They explain how Apollo shifted from traditional asset management to a key player in corporate lending. The duo discusses asset-backed lending, the complexities of new credit dynamics, and the economic implications of changes like telework. They also dissect Boeing's potential despite its challenges and reveal the intriguing future of News Corp amidst its unfolding drama.
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Bank Instability
- Banks take customer deposits and make long-term loans, creating a mismatch.
- This mismatch between short-term liabilities and long-term assets is a core banking challenge.
Insurer Model
- Insurers receive premiums but pay claims over long periods, providing stable capital.
- They often outsource investment management rather than handling it themselves.
Blurring the Lines
- Large asset manager/insurance companies, like Apollo, are increasingly resembling banks.
- They are lending to large companies, blurring the lines between traditional financial institutions.