Apollo REPE (recent M&A & hiring)
On the heels of today’s press release to hire a new group head and recent acquisition of Bridge… what’s going on over there? The Athene capital all consuming?
Based on the most helpful WSO content, Apollo has been actively revamping its recruiting and operational strategies to support its ambitious goal of doubling assets within five years. This includes diversifying its asset classes and expanding beyond traditional private equity. While the context does not specifically mention the acquisition of Bridge or the hiring of a new group head, Apollo's recent initiatives include:
Diversity Hiring Initiatives: Apollo has been focusing on building a diverse talent pipeline, as seen with their MBA internship program, which had a class composition of 55% women, 36% minorities, and 9% veterans.
Expansion into Alternative Asset Classes: Apollo, like other megafunds, is not solely focused on flagship PE funds. Instead, they are targeting growth in areas like secondaries, growth equity, and other alternative asset classes.
Cultural and Workplace Enhancements: The firm has been upgrading its office spaces with collaborative areas, a new cafeteria, gym, and coffee bar to foster a more inclusive and engaging work environment.
Athene Capital: While the context does not provide specific details about Athene's role, Apollo's broader strategy likely involves leveraging its insurance platform (Athene) to fuel growth and expand its investment capabilities.
If you're looking for more specific details about the Bridge acquisition or the new group head, additional sources or press releases might provide clarity.
Sources: Apollo is revamping recruiting and softening its culture. Here's a look., More negative press on Apollo
also just hired a new Head of Equity from Invesco
Bump
They fired basically their entire previous RE equity team from what I’ve heard. Similar story to Barings etc
Can confirm, I know a few of my friends in the equity team who got laid off last year. Curious how they’re going to approach hiring going forward
Apollo laid off its equity team or Bridge laid off theirs?
Why did they do that?
It sounded like a clearing of house for the new group head. Also, the current team was less investment fiduciary and more culturally similar to the PE team (Ex IB), so they’re building a new team from scratch to go after lower cost capital as well as opportunistic.
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