The View From Apollo Private Equity: Alpha in an Evolving Market
23 snips
Nov 24, 2025 Antoine Munfakh, Deputy Global Head of Private Equity at Apollo, and Bryn Gostin, Lead Equity Product Specialist, share insights on the evolving landscape of private equity. They discuss why operational depth has become crucial and how disciplined strategies are key to generating alpha. The duo also forecasts risks related to indexation and highlights the advantages of private equity's long-term focus. With an eye on 2026, they emphasize the importance of strategic exits and specialized management in navigating market volatility.
AI Snips
Chapters
Transcript
Episode notes
Indexation Has Distorted Public Markets
- Passive indexation has driven extreme concentration and elevated valuations in public markets.
- Bryn Gostin warns this regime raises the risk of a disorderly unwind and weak medium-term returns.
Private Equity's Structural Edge
- Private equity performance benefits from control, alignment, and longer time horizons.
- Antoine Munfakh says those structural features allow managers to influence outcomes beyond market beta.
Mix Public Liquidity With Private Compounding
- Pair public-market liquidity with private-market compounding when building portfolios.
- Use vintage diversification, secondaries, and co-invests to manage liquidity and J-curve timing.