When that happens, you see the most even spread of our resources. White: Its somewhat ironic that Im recording this with you and talking to you from my basement in Englewood, New Jersey, even though I work for POLITICO. A lot of times, when were talking about economic opportunity and inequality, theres a tension there. He also enjoys hunting, fishing, collecting antique wooden boats, anything that involves being on the water and good wine. He is a member and former chairman of the National Association of Real Estate Investment Trusts. Jessica Bibliowicz serves as an independent director and member of the audit committee of Apollo Asset Management, Inc.s board of directors. From 1998 to 2001, Mr. Krongard served as Counselor to the Director of Central Intelligence. Copyright 2023 The Trilateral Commission | All rights reserved. In 2008, Dr. Healey was appointed by Secretary of State Condoleezza Rice as a founding member of the Executive Committee of the U.S. State Departments Public-Private Partnership for Justice Reform in Afghanistan (PJRA), a position to which she was later reappointed by Secretary of State Hillary Clinton. estimate, expect, intend and similar expressions are intended to Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, San Diego, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong, Shanghai and Tokyo. On average, Apollo Global Management Inc executives and independent directors trade stock every 17 days with the average trade being worth of $20,784,123. Director and Co-Founder, will continue with respect to Apollos Operating Officer - Credit; Stephanie Drescher, Global Head of Business It continues to increase. delay times for all exchanges). We are thrilled to extend our long track record in this area and expand our commitment to driving a more sustainable future, recognizing the urgent need for climate capital deployment, said Apollo Co-President Scott Kleinman. Market Data copyright 2023 QuoteMedia. Apollo co-president Scott Kleinman said, We believe ACT Capital is a premier financing solution for companies around the globe who require significant, flexible capital to support their energy transition efforts. Mr. Swann has served as director of Athene Holding Ltd. since September 2020. Apollo Global Management, LLC (together with its consolidated The following transcript has been condensed and lightly edited for clarity. Mr. Beilinson currently serves on the boards of directors of Exela Technologies and Playtika, as well as several privately held companies. From 2001 to 2004, Mr. Krongard served as Executive Director of the Central Intelligence Agency. But we do have to wrestle with the long-term consequences of mandatory spending that we havent wrestled with before. Prior to Lazard, Mr. Emerson held senior roles with The Blackstone Group and Morgan Stanley & Co. Mr. Emerson has a BA and MA in Economics and a JD from Stanford University, and an MBA from Dartmouth College. executive leadership team with the elevation of Scott Kleinman and James In 2014, Mr. Kleinman founded the Kleinman Center for Energy Policy at the University of Pennsylvania. For From 2003 to 2005, Mr. We are dispersed right now, you and I. its predecessor companies from 1994 to 2006. related to Apollos expectations regarding the performance of its Apollo Global Management Inc. has promoted two longtime partners to lead its private-equity business, which has $77 billion in assets. Matt Nord and David Sambur, Before coming to Babson, she served with distinction as the 70th lieutenant governor of Massachusetts from 2003 to 2007, where she worked to lead, enact, and implement a wide range of policy and legislative initiatives for the Romney-Healey Administration. Holdings, LLC, Momentive Performance Materials Holdings, Inc., and in History from the State University of New York at Albany. Data delayed Its application is universal. WebScott began his career with the company as a teenager by working summers in construction. RT=Real-Time, EOD=End of Day, responsibility for all of Apollos revenue-generating and investing 15 minutes unless otherwise indicated (view Corner Office. Mr. Zelter is also a member of the board of directors and the executive committee of the board of directors of Apollo Global Management, Inc. Wolfgang Porsche announces final term on Volkswagen supervisory board, Generali's No.3 investor Caltagirone withholds backing for 2022 accounts -sources, Musk says Tesla likely to launch full self-drive technology 'this year', Exclusive: JPMorgan employees gripe about Dimon's return-to-office edict, SpaceX rocket explosion illustrates Elon Musk's 'successful failure' formula, Cucinelli posts 33% rise in Q1 sales, confirms 2023 revenue growth forecast, Exclusive-Peter Thiel, Republican megadonor, won't fund candidates in 2024 - sources, Virginia Governor Youngkin 'humbled' by talk of possible presidential run, European Midday Briefing: Mood Brighter After -2-, Tim Cook unveils new Apple store in India. the expectations reflected in these forward looking statements are White: Lets just explain to people exactly what Opportunity Zones are. Ms. Richards also serves as a member of the Audit and Governance Committees of the board of directors of Wyndham Hotels and Resorts. [II Deep Dive:Apollos Josh Harris Talks Private Markets at Delivering Alpha]. From 2016 to 2019, Mr. Swann served as the Athletic Director of the University of Southern California, where he was responsible for overall administration of 21 womens and mens Division I athletic programs at the university. Earlier in her career, Ms. Bibliowicz held senior management positions at Prudential Mutual Funds and Smith Barney Mutual Funds. In addition to chairing the SEC, he was a member of the Presidents Working Group on Financial Markets, the Financial Stability Oversight Council and the Financial Stability Board. Mitra Hormozi serves as an independent director and a member of the nominating and corporate governance and sustainability and corporate responsibility committees of our board of directors. Prior to joining the SEC, Mr. Clayton was a partner at Sullivan & Cromwell LLP, where he was a member of the firms Management Committee and co-head of the firms corporate practice. Mr. Krongard serves as chairman of the nominating and corporate governance committee and a member of the compensation committee of Iridium Communications Inc. and as a member of the audit committee of Icahn Enterprises L.P. Mr. Krongard also serves on the board of trustees of In-Q-Tel, Inc. Mr. Krongard graduated with honors from Princeton University and received a J.D. He also chaired the Subcommittee on Financial Institutions and Consumer Protection. When used in this press release the words believe, anticipate, estimate, expect, intend and similar expressions are intended to identify forward-looking statements. Tax incentives havent always proved successful in addressing entrenched poverty or stopping the decline of local economies based on old-line industries. The Quattlebaum family emphasizes hands-on management, down to the smallest details, including being on site for all phases of construction for every property. We sought to build this transformational platform to meet what we view as an underserved need in the climate finance marketplace for both investors and industry participants.. When he isn't doing business across the globe, he keeps himself busy with an assortment of hobbies. of Apollos Management Committee. White: Lets just take South Carolina as an example, since its your backyard. I think weve seen that number improve for every minority group. Managing Director and Co-Founder, and Marc Rowan, Senior Managing He lives in downtown Charleston with his wife, Marlene, and daughter, Isabel. Mr. Kleinman joined Apollo in 1996, and in 2009 he Mr. Kleinman is Co-President of Apollo Global Management, Inc. since January 2018, with responsibility for all of Apollos revenue-generating and investing business across its integrated alternative investment platform. They are very difficult to separate. Sen. Tim Scott: What I have tried to do is create a program that is not a government-centric program, but that does create an incentive for people to take a second look at parts of the country that have been missed by the economic recovery that weve experienced over the last few years. As the American economy has grown more unequal, with urban areas thriving and rural areas falling behind, free-market Republicans have generally stayed away from the debate about potential government solutions. The alternative asset manager also appointed co-heads of the natural resources and infrastructure businesses. The estimated Net Worth of Scott Kleinman is at least $114 Million dollars as of 19 February 2021. This dedicated strategy will employ the expertise of Apollos broader sustainable investing platform, as well as the Firms long-standing sustainability ecosystem. Mr. Swann received a Bachelor of Arts from the University of Southern California. 87990cbe856818d5eddac44c7b1cdeb8, Continue reading your article witha WSJ subscription, Already a subscriber? in our periodic filings with the SEC, which are accessible on the SECs Talking with Secretary Mnuchin and others, they see, on the sidelines, $5 billion to $10 billion initially, looking to be deployed in just a few states. Mr. Beilinson previously served as Chief Restructuring Officer of Fisker Automotive from November 2013 to August 2014 and as Chief Restructuring Officer and Chief Executive Officer of Eagle Hospitality Properties Trust, Inc. from August 2011 to December 2014 and Innkeepers USA Trust from November 2008 to March 2012. structure affirms and strengthens the inherent power of our integrated These forward-looking statements are based on managements beliefs, as well as assumptions made by, and information currently available to, management. He enjoys racing historic cars and wingshooting. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. His father, a well-known philanthropist, was a professor of engineering at Clemson University and eventually opened Harllee Construction Company in 1927 in Florence with his brother. delay times for all exchanges). Scott: Im a young fellow. Notably, she became president and CEO of National Financial Partners (NFP), a leading provider of benefits, insurance and asset management services, in 1999 and Chairman of the companys Board in 2003, and took the company public later that year. Pamela Joyner serves as an independent director and a member of the nominating and corporate governance committee of our board of directors. When we think of using the tax code to effect economic change and stimulate investment, we tend to think of it as something that Democrats do more than Republicans. Noah GunnGlobal Head of Investor RelationsApollo Global Management, Inc.(212) 822-0540IR@apollo.com, Joanna RoseGlobal Head of Corporate CommunicationsApollo Global Management, Inc.(212) 822-0491Communications@apollo.com. Apollo Global Management has new leadership for its $77 billion private equity business. from the University of Pennsylvania Law School (cum laude, Order of the Coif). from the Indiana University Kelley School of Business and an MBA from Columbia University. They have also been very involved in the day-to-day operations of Apollos flagship private equity business and have established themselves as leaders from a strategy and culture standpoint.. President George W. Bush appointed Mr. Swann as the Chairman of the Presidents Council on Fitness, Sports and Nutrition, where he served from 2002 to 2005. regulatory environment and tax status, the variability of our revenues, bench of world-class talent that we continue to develop and promote at assumptions made by, and information currently available to, management. Ben White: I wanted to start with a kind of existential question. Mr. Ms. Bibliowicz has served on the Board of Fellows of Weill Cornell Medicine for more than 15 years and is currently Chair and also serves on the Board of Trustees of Cornell University and the Board of Trustees of New York-Presbyterian. During the 1950s, as many textile mills began to move to the area, the company became one of the first South Carolina design-build firms, designing and building many of these industrial plants. And then later deciding on the job they want because of the ability to work from home. He serves on the board of directors of Apollo Global Management Inc., Athene Holding Ltd. and Athora Holding Ltd, and certain other affiliated public vehicles. Ms. Richards also serves as an independent director and Chair of the audit committee of Apollo Global Management, Inc.s board of directors. 1 This figure reflects a combination of equity commitments and anticipated pro forma leverage.2 Reflects (a) for equity investments: (i) total enterprise value at time of signed commitment for initial equity commitments; (ii) additional capital contributions from Apollo funds and co-invest vehicles for follow-on equity investments; and (iii) contractual commitments of Apollo funds and co-invest vehicles at the time of initial commitment for preferred equity investments; (b) for debt investments: (i) purchase price on the settlement date for private non-traded debt; (ii) increases in maximum exposure on a period-over-period basis for publicly-traded debt; (iii) total capital organized on the settlement date for syndicated debt; and (iv) contractual commitments of Apollo funds and co-invest vehicles as of the closing date for real estate debt; (c) for SPACs, the total sponsor equity and capital organized as of the respective announcement dates; (d) for platform acquisitions, the purchase price on the signed commitment date; and (e) for platform originations, the gross origination value on the origination date.3 Midpoint of low-end and high-end estimated energy and infrastructure spend required to achieve net zero over the next 30 years per BloombergNEF, July 2021. Our ability to deploy capital at scale across sectors and strategies can provide attractive, diversified exposure to this generation-defining opportunity to address climate change, said Olivia Wassenaar, Apollos Head of Sustainable Investing. Recent Posts. This press release may contain forward looking statements that are Alex, who has traveled, worked and lived across the world, made his first entry on the international scene as one of the original 35 members of the Peace Corps in 1961. Walter Joseph (Jay) Clayton III serves as non-executive Chair, Chair of the executive committee and a member of the nominating and corporate governance committee of the AGM board of directors. Alex's knowledge and experience have taken him all over the world to almost 35 countries in Europe, South America, Africa, Asia and the Caribbean, and he speaks Swahili, Spanish and is conversant in other languages. Apollo is a leading global alternative investment manager with offices they will report to Mr. Harris. WebScott Kleinman is Co-President and a member of the board of directors of Apollo Asset Management, Inc. (AAM). WebScott aims to formally announce the bid by the end of May, according to a person familiar. Scott, for his part, said he thought the program could create enormous investment within just a couple of years. Scott Kleinman is Co-President of Apollo Global Management, Inc., co-leading Apollos day-to-day operations including all of Apollos revenue-generating In its early days, the company focused on general construction throughout the area, building roads and homes. From September 2009 to December 2012, Mr. Ducey was the non-executive Chairman of TPC Group, Inc. and served on the audit committee and the environmental health and safety committee. Mr. Rowan graduated summa cum laude from the University of Pennsylvanias Wharton School of Business with a BS and an MBA in Finance. White: taking advantage of connectivity. Scott, who has served in the Senate since 2013, often shares his experience growing up poor in North Charleston and what inspired him to overcome those struggles. Let me give you just two real-world examples. Ms. Joyner is a founding partner of Avid Partners LLC, a strategic marketing consulting firm. And as that company grows, you would see how quickly investors might find it attractive not only do you have the tax deferral from your initial tax burden, but as your company starts to grow in that zone, that growth is capital gains tax free during those first 10 years of your growth. Less than six months ago, it was under 6 percent. Scott: Theres over $1 trillion on the sidelines in the United States that could be deployed. PD=Previous Day. And in the next couple of years, $100 billion or more. Mr. Ducey was with Compass Minerals International, Inc., from March 2002 to May 2006, where he served in a variety of roles, including as President, Chief Executive Officer and Director prior to his retirement in May 2006. He currently serves on the board of directors of ISG, Paulist Productions, where he chairs the investment committee, and Southern California Aquatics. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Are there other policy levers that we could be pulling? Mr. Belardi is responsible for AHLs overall strategic direction and management and the day-to-day management of its investment portfolio. offer of any Apollo fund. Mr. Kleinman Scott grew up in poverty, spending his high school years living in this apartment complex in North Charleston. Communicationsgstein@apollolp.comorNoah These statements include, but are not limited to, discussions He helped get the provision tucked in the tax bill signed by Trump in December 2017, and along the way won the support of several Democrats. Another issue, of course, is the connectivity issue. There have been communities that have been mired in poverty for generations. This site uses cookies. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. She is a member of the Board of Prudential Insurance Funds and previously served on the Board of Directors for Sothebys until it went private in 2019. Europe; and John Suydam, Chief Legal Officer. We are thrilled to extend our long track record in this area and expand our commitment to driving a more sustainable future, recognizing the urgent need for climate capital deployment, said Apollo Co-President Scott Kleinman. Mr. Belardi swam in the 1976 and 1980 Olympic Swimming Trials and is a nine-time Masters Swimming World Record Holder. White: I want to ask you, more broadly, about what role government can play here. Strong will serve as co-lead of infrastructure in addition to his role co-leading the natural resources group to optimize the inherent synergies between the two asset classes, according to the statement. Vectra Co. Zelter to serve as Co-Presidents. Apollo., Mr. Harris said, Scott has been with Apollo for more than two decades, Apollo Co-Presidents Scott Kleinman and Jim Zelter said, As private capital markets continue to grow, mature and evolve, so too do the needs of market participants. Harry Lee Harllee, the great uncle of today's company principals, as Harllee Construction Company in Florence, S.C. Mr. Beilinson has previously served on the boards of directors and audit committees of a number of public and privately held companies, including Westinghouse Electric, Caesars Acquisition Company, Wyndham International, Inc., Apollo Commercial Real Estate Finance, Inc., Innkeepers USA Trust and Gastar Inc. Mr. Beilinson has a Bachelor of Arts in political science from the University of California, Los Angeles and a Juris Doctor from the University of California Davis Law School. Gunn, 212-822-0540Investor Relations Managerngunn@apollolp.comorFor During the early 70s, he was also instrumental in establishing the first Foreign Trade Zone in South Carolina and today owns two such trade zones where many Quattlebaum Development Company properties are located. There are 17 older and 2 younger executives at Apollo Global Management Inc. Mr. Simon served as an independent director of Apollo Asset Management, Inc.s board of directors from June 2021 through December 2021. An avid musician, Scott also enjoys racing vintage racecars, hunting and in his spare time as well as golf and fencing. Just one more thing on the broad macroeconomic level that Im interested in: the federal deficit and the national debt, and the fact that weve seen the numbers go up pretty significantly. Form 10-K filed with the Securities and Exchange Commission (the SEC) One is the economic pillar. Mr. Clayton served as Chair of the SEC from May 2017 through December 2020. They both will continue to serve on the investment And frankly, theres typically an uneven success trajectory. Q&A: Siemens CEO sees a skills gap in the U.S. Is our education system the right fit for American workers. He served on the board of Fenner, PLC from January 2017 to June 2018 and served on the Audit, Governance and Remunerations Committees. There are 17 older and 2 younger executives at Apollo Ms. Richards was also a member of the conflicts committee of AAMs board of directors from October 2020 through December 2021. Apollo Global Management, Inc. Apollo Global Management, Inc. 9 West 57th Street New York, NY 10019 December 1, 2021 Personal and Confidential Scott Kleinman [Address on file with the Company] Re: Employment and Compensation Terms Dear Scott: From 2008 to 2012, Mr. Kelly was with Barclays Capital and, from 2000 to 2008, Mr. Kelly was with Lehman Brothers Holdings Inc. (AUM) of approximately $242 billion as of September 30, 2017 in Private