170: The Irreversible Convergence of Public & Private Markets – With Scott Kleinman, Co-President of Apollo Asset Management

In the world of mythology, Apollo is one the most revered and significant of all the ancient Greek and Roman Gods. 

It was also the name given to an asset management business created in 1990 and today with assets of over $750 billion*, it’s a leading provider of alternative asset management and retirement solutions.  

In this conversation we understand Apollo’s growth, reach and specialisations. More importantly we discuss the convergence of the public and private asset management industries, where the accelerating marriage of alternatives and traditional assets appears irreversible. From institutional portfolios, now expanding into individual allocations, the trend appears early in its evolution. 

Scott Kleinman, Co-President of Apollo Asset Management, reviews the liquidity aspects implied by this phenomenon. He discusses the role of banks, where regulation has allowed the growth of non-bank enterprises like Apollo to blossom, and the trade-offs, risk, reward and liquidity, investors will make. 

He also describes opportunities and challenges, outside of the US where capital is less abundant, and securitisation malfunctioning. Finally, Scott offers some great advice to youth that “you can’t escape hard work” and “you should never stop asking why?!” 

The Money Maze Podcast is kindly sponsored by Schroders, IFM Investors, World Gold Council and LSEG. 

Sign up to our Newsletter | Follow us on LinkedIn | Watch on YouTube | As of 31st December 2024