The conversation details the significant shift of making private market investments, traditionally reserved for large institutions, accessible to the broader wealth management channel. This involves creating new, more liquid product structures (like interval funds and ETFs), investing heavily in technology, and providing extensive education to financial advisors.
A core tenet of Apollo's philosophy is investing its own capital alongside its clients, a practice it refers to as guaranteeing a "shared outcome." Through its retirement services business, Athene, the firm is often the largest single investor in its own funds, with its own capital sometimes making up two-thirds of a portfolio.
The speaker identifies Apollo's ability to originate its own proprietary investment opportunities as its primary differentiator, not simply its scale or ability to deploy capital. The firm has built 16 distinct origination platforms over 15 years to source unique deals across various asset classes.
Successfully serving the wealth channel requires a massive, long-term commitment to building the right infrastructure. This includes a $1 billion investment from Apollo's balance sheet into wealth-tech companies and partnerships to create innovative, easier-to-access product wrappers that can integrate into existing advisory platforms.
Keep pulling the thread on Stephanie Drescher.