What does Apollo FIG & Strategy team do?
What does Apollo FIG & Strategy team do? Is it an investing function? It seems like it deals with a lot of insurance/reinsurance and strategic partnerships with other financial institutions. But I couldn't gain any in-depth information. My questions are as below.
1. Is it an investing function?
2. How does the pay compare to other investing roles (eg PE, Credit)
3. If it's not investing role, what do you normally do? Just doing a lot of research on FIG related matters?
4. Do you think this has a bright career prospects?
Based on the most helpful WSO content, here's what you need to know about Apollo's FIG (Financial Institutions Group) and Strategy team:
Is it an investing function?
Yes, Apollo's FIG and Strategy team is closely tied to investing, particularly in financial services-focused investing roles. They deal with insurance, reinsurance, and strategic partnerships with other financial institutions. This team leverages FIG expertise to identify and execute investment opportunities, often in areas like hybrid value or financial services-specific private equity.
How does the pay compare to other investing roles (e.g., PE, Credit)?
While specific pay details for the FIG & Strategy team aren't explicitly outlined, Apollo is known for offering highly competitive compensation across its roles. For instance, traditional PE roles at Apollo are among the highest-paying in the industry, with Year 1 comp around $400k and rapid progression to principal and partner levels. FIG-related roles likely align closely with this competitive pay structure, especially given the technical expertise required.
If it's not an investing role, what do you normally do?
If the role leans more towards strategy than direct investing, it might involve extensive research on FIG-related matters, structuring strategic partnerships, and working on initiatives that align with Apollo's broader investment goals. This could include analyzing market trends, evaluating potential acquisitions, and supporting portfolio companies in the financial services sector.
Do you think this has bright career prospects?
Absolutely. FIG expertise is highly valued, especially as financial services-focused investing continues to grow. Roles in Apollo's FIG & Strategy team can open doors to top-tier platforms like Apollo's hybrid value or FIG-specific PE roles. The skill set developed here—combining deep industry knowledge with strategic and investment acumen—positions professionals for long-term success in finance.
For more insights, you might explore threads like "Why Should I Work in FIG Investment Banking?" or "Financial Institutions (FIG) Private Equity Recruiting Overview?" on WSO.
Sources: Apollo is revamping recruiting and softening its culture. Here's a look., PE Recruiting From BB FIG, Is Apollo that bad?, Apollo Credit Strategies Fund, Financial Institutions (FIG) Private Equity Recruiting Overview?
It's Marc Rowan's team that builds Apollo. What they do is this:
Bump
They do internal strategy at Apollo.
That is primarily: insurance/Athene and buying/building origination platforms.
Look at the people on that team. It’s a bunch of Senior SpecFin hires from GE Capital, Barclays, etc. Those folks usually have a IBD client service mentality and are thanking their lucky stars they got plucked out of those old world shit boxes late in their careers to get on the golden buyside chariot. There’s some home grown Apollo talent in there too (primarily ex-classic PE) — they’ve had their nose to the grindstone so long that now it’s more likely their sphenoid bone to the grindstone.
I think the mandate is technically both Apollo strategy and FIG PE, but given the focus on the former at the founder-level, I can’t imagine that the latter is given much priority.
Also if the master for strategy
Marc Rowan, the level of attention/focus and bar is going to be ridiculously high. So I would expect max anal retentiveness, tons of iterations, and a very low bar for blowing up night, weekend, holidays.
Usually if Marc asks if it’s raining in London, the person he asked usually rapidly deploys a swat team to come up with 10 scenario analyses for why he might be asking that, then laying out a comprehensive deck with suggested strategies and paths to go down along with 3 alternatives. When he invariably says “oops, wrong text” all that work goes in the dumpster. And the team gets back to the all nighter the just abandoned.
There’s also been some chatter of Marc Rowan not being long for that seat given the recent talk of him going to DC. Not sure how his successor would be. Presumably one of the Sr PE guys like Scott or possibly a left field successor out of the Insurance/FIG side. Don’t know if there’s anyone accomplished/prominent enough to fill the shoes from that side of the house.
Lmao bro this is all so relatable. Not at APO but a similar firm. Invariably says oops wrong text story of my life
Thank you very much!!! This is extremely helpful. Do you think comp/career wise this is in line with other investment roles?
Depends on your perspective.
If purely focused on associate comp (which is dumb imo), then it’s prob all the same initially, however it likely diverges meaningfully over time.
For example, I’m sure you would think comp of $300k vs. $400k is a massive delta. But that $100k difference is what a mid-level partner makes in 7 days.
The real value of the associate seat at a place like Apollo is the sum of all future earnings, not Associate comp, which is peanuts.
So is FIG and Strategy the same as FIG PE?
You're funny. Do you work there or just know people on the team.
How does comp compare to more traditional investing roles in PE and hybrid at the mid and senior levels? Do folks in FIG get carry in any funds / get any Apollo stock?
Comp is better than traditional PE / Hybrid, it is literally the key architecture underlying Apollo at this point. Apollo could close its PE fund tomorrow and it wouldn't make a dent in its share price.
You are compensated in performance related stock options based on long-term performance of the origination platforms which are not owned out of funds.
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