Money Maze Podcast 170: The Irreversible Convergence of Public & Private Markets – With Scott Kleinman, Co-President of Apollo Asset Management
Apr 1, 2025
Scott Kleinman, Co-President of Apollo Asset Management, shares insights from his extensive experience in a firm managing over $750 billion. He dives into the fascinating convergence of public and private markets, highlighting how traditional investment strategies are evolving. Kleinman discusses the impacts of passive investing on market dynamics and liquidity. He also addresses opportunities outside the US and emphasizes the importance of hard work and curiosity for the youth, reminding listeners to always ask 'why?'. A treasure trove of finance wisdom!
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Private Equity's Zero-Rate Era Impact
- The zero interest rate era led to inflated valuations and increased private equity scale.
- Distinguishing true alpha generators from those benefiting from cheap capital has become more challenging.
Convergence of Public and Private Markets
- Public and private asset markets are converging, especially in liquidity characteristics.
- This shift challenges traditional risk and liquidity assumptions, opening vast new investment opportunities.
Include Private Assets in Retirement
- Individuals should be allowed to include illiquid private assets in retirement portfolios.
- Even a small allocation to private assets can greatly boost long-term retirement growth.
