Apollo aims to double its asset under management to $1 trillion by 2026

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Marc Rowan, co-founder and then-senior managing director, Apollo International Administration, takes half in a panel dialogue Beverly Hills, California April 29, 2014. REUTERS/Kevork Djansezian/File Picture

Oct 19 (Reuters) – Apollo International Administration Inc mentioned on Tuesday it anticipated its property underneath administration to greater than double to $1 trillion by 2026 because it expands its companies throughout insurance coverage, credit score and personal fairness.

Apollo trails Blackstone Group Inc , the world’s largest various asset supervisor, which introduced in 2018 that it will additionally develop its property underneath administration to $1 trillion by 2026. Blackstone had $684 billion in property as of the tip of June.

“We’re within the extra return enterprise and property are what’s briefly provide, not capital,” Apollo Chief Government Marc Rowan mentioned throughout an investor day occasion.

Rowan mentioned its insurance coverage platform, led by annuities supplier Athene Holding Ltd , might be a key driver in increasing its property underneath administration and earnings over the following 5 years.

That’s as a result of Athene has the capability to amass vital outdoors capital with out a lot fundraising, permitting Apollo to generate revenue from its fixed-income investments at low prices and from even low charges of return, Rowan mentioned.

Apollo had $472 billion in property underneath administration as of the tip of June.

Reporting by Chibuike Oguh in New York
Edited by Alistair Bell


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