of the Management Committee include: Gary Parr, Senior Managing I think what youre going to see in the next 10 to 15 years, and youre seeing it start now, is the fact that people can live where they want to and then decide the type of work they want to do. Mr. Kleinman owns over 200 units of Apollo Global Management Inc stock worth over $82,117,639 and over the last 19 years he sold APO stock worth over $12,778,067. 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. this press release and in other filings. The alternative asset manager also appointed co-heads of the natural resources and infrastructure businesses. Mr. Ducey served as Chair of the conflicts committee of AAMs board of directors from 2011 through December 2021. From 2009 to 2017, Mr. Clayton was a Lecturer in Law and Adjunct Professor at the University of Pennsylvania Law School and since July 2021 has been an Adjunct Professor at both the Wharton School and the Carey Law School of the University of Pennsylvania. 15 minutes unless otherwise indicated (view In 2014, Mr. Kleinman founded the Kleinman Center for Energy Policy at the University of Pennsylvania. Mr. Suydam received his J.D. Michael Ducey serves as an independent director and a member of the audit committee of Apollo Asset Management, Inc.s (AAM) board of directors. During the early 1970s, Alex was instrumental in creating the first Foreign Trade Zone in South Carolina and has owned and operated Foreign Trade Zones since 1974. Ms. Hormozi has extensive experience in both the public and private sectors of the legal field. subsidiaries, "Apollo") (NYSE:APO) today announced the expansion of its from New York University and graduated magna cum laude with a B.A. Apollo had assets under management of approximately $312 billion as of June 30, 2019 in private equity, credit and real assets funds invested across a core group WebScott aims to formally announce the bid by the end of May, according to a person familiar. 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. Swann received a Bachelor of Arts from the University of Southern California. Terms of Use. Apollos patient, creative, and knowledgeable approach to investing aligns its clients, businesses it invests in, its team members, and the communities it impacts, to expand opportunity and achieve positive outcomes. The company has approximately two million square feet in its current inventory across five properties, all located in Foreign Trade Zones and in the Southeast. 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 Asia Pacific Groupheld its annual regional meeting in Tokyo on November 19-20, 2022. Q&A: Siemens CEO sees a skills gap in the U.S. Is our education system the right fit for American workers. White: Lets just take South Carolina as an example, since its your backyard. From 2004 through 2008, he was Senior Managing Director of Evercore Partners Inc., a public investment banking advisory firm, where he established and ran the San Francisco office. This site uses cookies. The unseen reason working-class students drop out. Scott spoke to POLITICO from his office in North Charleston, S.C. Mr. Krongard also serves as an independent director and a member of the audit committee of Apollo Global Management, Inc.s board of directors. in Economics from Duke University. This press release does not constitute an Apollo Global Management Inc. has promoted two longtime partners to lead its private-equity business, which has $77 billion in assets. dependence on certain key personnel, our ability to raise new private | Source: Scott Kleinman is 47, he's been the Co-President of Apollo Global Management Inc since 2018. During his service, he was responsible for surveying, as well as design and construction of roadways, bridges and infrastructure in the Southern Province of Tanganyika (now Tanzania). a member of Apollos Management Committee, and Chief Executive Officer Let me give you just two real-world examples. of Apollos Management Committee. Investments, and prior to that he was responsible for the firms Global As the Co-President of Apollo Global Management Inc, the total compensation of Scott Kleinman at Apollo Global Management Inc is $18,615,200. Previously, Mr. Simon was Vice President of Wasserstein Perella & Company from 1988 to 1990, and an Associate at First Boston Corp. from 1985 to 1988. And in the next couple of years, $100 billion or more. WebScott began his career with the company as a teenager by working summers in construction. In 2014, Mr. Kleinman founded the Kleinman Center for Energy Policy at the University of Pennsylvania. Ms. Richards also served as a member of the Audit Committee and chair of the Corporate Governance Committee of the board of directors of Butterfield Bank from 2006 to 2013. in Economics from the University of Cambridge (Thouron Scholar), and a J.D. She has also previously served on the board of directors of Revlon. Kohl's promo code: 30% Off for Kohl's Rewards Members, Save up to $15 with TurboTax coupon April 2023, Epic Bundle - 3x Expert Stock Recommendations, 15% Off DIY Online Tax Filing Services | H&R Block Coupon Code. ability to manage our growth, fund performance, changes in our This site uses cookies. Mr. Belardi is responsible for AHLs overall strategic direction and management and the day-to-day management of its investment portfolio. He enjoys racing historic cars and wingshooting. Alex Quattlebaum, III principal with Quattlebaum Development Company, is responsible for the day-to-day operations of running the business, which he does so alongside his brother Scott. A poor education system or a failing school typically leads to higher unemployment. management across Credit, Private Equity and Real Assets and a deep There have been communities that have been mired in poverty for generations. There are 1 executives at Apollo Global Management Inc getting paid more, with JamesZelter having the highest compensation of $85,389,504. Senator Toomey previously served in the U.S. House of Representatives from 1999 to 2005, where he was a member of the House Budget Committee. 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. At Quattlebaum Development Company, integrity is paramount and is evidenced through the company's repeat customers, who range from first-time business owners to billion-dollar companies, like Caterpillar and Corning, Inc. He is a member of the Board of Overseers at the University of Pennsylvania Stuart Weitzman School of Design and the Board of Directors at the White Plains Hospital, where he co-chaired the COVID-19 Relief Campaign. Upon the merger of Alex Brown, Incorporated with Bankers Trust Corporation in 1997, Mr. Krongard served as Vice-Chairman of the Board of Bankers Trust Corporation and served in such capacity until assuming his position at the Central Intelligence Agency. Prior to joining Apollo in 2006, Mr. Zelter was with Citigroup Inc.and A full-service company with a hands-on approach to management, Quattlebaum Development Company oversees the entire development process from site location and design to construction and property management. structure affirms and strengthens the inherent power of our integrated 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. So while were going to continue to celebrate our success as a manufacturing headquarters, we are, at some point in the future, going to become what we call the Silicon Harbor in Charleston, in the upstate. Scott acknowledged in our interview that, contrary to conservative orthodoxy, he does believe that government can play a role in pushing against the economic tendency for investments to cluster in certain areas while leaving others behind. Prior to joining Apollo, Mr. Zelter was with Citigroup Inc. and its predecessor companies from 1994 to 2006. Chief Executive Officer, Chief Investment Officer, and Co-founder, Athene Holding Ltd. Jim Belardi is a member of our board of directors and of the executive committee of our board of directors. A conversation with Sen. Tim Scott, the Republican trying to bring development to disadvantaged communities. In the asset management business, Apollo seeks to provide its clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid, and equity. But how much do you worry now about that growing deficit and the debt on economic growth and interest rates going forward? Jim joined Apollo more than a decade ago, and he has done an Ms. Hormozi has served as a director of Athene Holding Ltd. (AHL) since December 2018 and is a member of AHLs compensation committee and legal and regulatory committee. Prior to joining Lehman Brothers in 2000, Mr. Kelly spent 13 years with PricewaterhouseCoopers LLP, including serving in the Financial Services Group in New York from 1994 to 2000. | Raymond McCrea Jones for POLITICO. https://www.wsj.com/articles/apollo-taps-new-co-heads-of-private-equity-business-11569495601. 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. WebScott Kleinman is Co-President of Apollo Global Management, Inc., co-leading Apollos day-to-day operations including all of Apollos revenue-generating businesses and Japan Center for International Exchange I think a realistic estimation, in the first few years, would be about $100 billion.. In their new capacities, Mr. Kleinman and Mr. Zelter will have full Alex lives in Charleston with his wife Kimberly and sons Mac and John Henry. Earlier in her career, Ms. Bibliowicz held senior management positions at Prudential Mutual Funds and Smith Barney Mutual Funds. Scott attended the College of Charleston and also holds an associate's degree in construction project management. Mr. Ducey joined Ciner Resources Corporation (formerly OCI Resources LP) as an independent member of the board of directors in September 2014, where he serves on the audit committee and the conflicts committee. I am certainly an advocate of the free market, without any question, Scott told me in an interview. Data delayed Scott: Theres over $1 trillion on the sidelines in the United States that could be deployed. Prior to Evercore, Mr. Emerson served as Senior Vice President, Corporate Development and Strategy, of Microsoft Corporation, reporting directly to the Chief Executive Officer and serving on the executive leadership team, with responsibility for all acquisitions, investments, strategic partnerships and corporate strategy. And if our goal is to make sure that we spread opportunities and success throughout this nation in an even way, we have to focus first on the education system, particularly the education system in the poorest parts of this country. We Mr. Scott M. Kleinman is a Co-President at Apollo Global Management, Inc. /Private Equity/, a Co-President & Director at Apollo Global Management, Inc., an Executive Chairman at Apollo Strategic Growth Capital and an Executive Chairman at Apollo Strategic Growth Capital II. This founding gift continues to support the center and its broad array of programs. Mr. Kleinman will focus on Apollos equity and opportunistic This press release contains forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. non-historical statements in the discussion and analysis. Mr. Kleinman joined Apollo in 1996, and in 2009 he He currently serves as president of Pendral Capital, where he both invests and advises technology clients on strategic transactions. Donor Carl Goldsmith 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. in political science from Harvard University. The new strategy is being launched with $4 billion in capital from Apollo affiliates and strategic partners. Broadband and online services are a prerequisite for success in most of America. Ms. Joyner holds a BA from Dartmouth College, an MBA from Harvard University and an Honorary Degree from Dartmouth College. net income and cash flow, our use of leverage to finance our businesses Since August 2011, Mr. Beilinson has been the Managing Director of Beilinson Advisory Group, a financial restructuring and hospitality advisory group that specializes in assisting distressed companies. continue to deliver value to investors and drive Apollo forward as one Prior to 1998, Mr. Krongard served in various capacities at Alex Brown, Incorporated, including serving as Chief Executive Officer beginning in 1991 and assuming additional duties as Chairman of the board of directors in 1994. result of new information, future developments or otherwise, except as For Prior to her public service, Dr. Healey worked for more than a decade as a public policy consultant to the United States Department of Justice for Cambridge-based think tank Abt Associates. Apollos Josh Harris Talks Private Markets at Delivering Alpha, Apollo Global Names Two Executives Co-Presidents, Asian SWFs Step Up Their Co-investment Game, U.S. Senate Has HELP for Retirement Plans, Modern Slavery Act Transparency Statement. He also chaired the Subcommittee on Financial Institutions and Consumer Protection. Mr. Kleinman is also a member of the board of directors and the executive committee of the board of directors of Apollo Global Management, Inc. Mr. Kleinman joined Apollo six years after its inception in 1996, and was named Lead Partner for Private Equity in 2009 prior to being named Co-President in 2018. So in the next several months, $25 billion to $30 billion. Terms of Use. And so you could see a company started in the Medical University of South Carolina spill into an opportunity zone. In its first year, Apollo's sustainable investment platform deployed over $6 billion toward its target.2. So its a phenomenal incentive for people to take a second look at areas that they would not necessarily pay attention to because they would feel like the return is too low, or the risk is too high. Thats one of the fictional stories that you can find out there. Mr. Kleinman joined Apollo six years after its inception in 1996 was named Lead Partner for Private Equity in 2009 prior to being named Co-President in 2018. As of 19 February 2021 he still owns at least 1,460,908 units of Apollo Global Management Inc stock. Scott Kleinman is Co-President of Apollo Global Management, Inc., co-leading Apollos day-to-day operations including all of Apollos revenue-generating businesses and enterprise solutions across its integrated alternative investment platform. 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. Apollo believes these factors include but are not limited to those described under the section entitled Risk Factors in Apollo's annual report on Form 10-K filed with the Securities and Exchange Commission (the SEC) on March 1, 2023, as such factors may be updated from time to time in Apollo's periodic filings with the SEC, which are accessible on the SECs website at www.sec.gov. The second example would be, we are heading towards a service economy in South Carolina. One of the ways that you do that is by making sure that the private sector, the free markets, have the ability to operate fully. The Quattlebaum family emphasizes hands-on management, down to the smallest details, including being on site for all phases of construction for every property. businesses, and Mr. Zelter will focus on Apollos credit and yield As an example, 10 years ago, the African American unemployment was about 12 or 13 percent. WebScott Kleinman joined Apollo Global Management, in 1996 and is currently the Co-President. As a senior partner, he is also a member of Apollos Senior Management Prior to 2008, Ms. Richards served as Director of Development of Saltus Grammar School from 2003 to 2008, as Chief Financial Officer of Lombard Odier Darier Hentsch (Bermuda) Limited from 2001 to 2003, and as Treasurer of Gulf Stream Financial Limited from 1999 to 2000. Mr. Clayton earned a B.S. 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. For non-personal use or to order multiple copies, please contact Foundation.Mr. Zelter has a degree in Economics from Duke University. Ms. Bibliowicz also serves as an independent director and a member of the audit committee of Apollo Global Management, Inc.s board of directors. He began his career in financial services at Chemical Bank and then Morgan, Grenfell & Co. Kappa. 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.. identify forward-looking statements. And so, for me, there are two major pillars. White: Lets pull back the lens a little bit to talk about the broader question of access to opportunity in the United States, and the fact that it is so unevenly distributed through our economy. Singapore, Hong Kong and Shanghai. She continued to serve in both roles until NFP was acquired in 2013. PD=Previous Day. Today, he has handed the reigns over to his sons, Alex, III, and Scott Quattlebaum. The idea for Opportunity Zones initially came from the Economic Initiative Group, a D.C. think tank set up by Sean Parker, the tech billionaire who co-founded Napster and served as the first president of Facebook. Previously, she held senior positions at Bowman Capital Management LLC and Capital Guardian Trust Company. to have been correct. It is not yet operational; the Treasury Department in October released proposed rules to guide investors on how to take advantage of the tax incentives. Ms. Richards currently serves as Chief Operating Officer of Trebuchet Group Holdings Limited, a position she has held since 2008. Apollo II is led by CEO Sanjay Patel, Executive Chairman Scott Kleinman and CFO and Chief Acccounting Officer James Crossen. 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. amended. It certainly allows for the creation of jobs and, frankly, for a walkable economy, for the ability to walk to work. In addition to these two appointments, Apollo announced the promotions of senior partners Olivia Wassenaar and Geoff Strong to co-leads of the firms natural resources business, which has approximately $5 billion in assets under management. Copyright 2023 The Trilateral Commission | All rights reserved. Today, the company is run by Alex, Jr.'s sons, Alex, III and Scott Quattlebaum, and focuses on both industrial and commercial development. Senator Toomey represented Pennsylvania in the U.S. Senate from 2011 to 2023, serving on the Senate Banking, Housing, and Urban Affairs; Budget; and Finance Committees, as well as the Joint Economic Committee and the Joint Select Committee on Deficit Reduction. Quattlebaum Development Company traces its beginnings back to 1927 when it was originally founded by Capt. Mr. Simon is currently Chairman of the Board, CEO and President of Simon Property Group. Scott grew up in poverty, spending his high school years living in this apartment complex in North Charleston. 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. closely with the founders and the members of the Management Committee to Mr. Beilinson has served as a director of Athene Holding Ltd. (AHL) since 2013, and is the lead independent director, the chair of AHLs compensation committee and a member of AHLs conflicts committee and legal and regulatory committee. forward-looking statements are based on management's beliefs, as well as 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. One is the economic pillar. Mr. Kleinman received a BA and BS from the University of Pennsylvania and the Wharton School of Business, respectively, graduating magna cum laude, Phi Beta Kappa. Krongard serves as an independent director and a member of the audit committee of Apollo Asset Management, Inc.s (AAM) board of directors. Prior to joining Apollo, Mr. Kleinman was a member of the Investment Banking division at Smith Barney Inc. From June 2006 to May 2008, Mr. Ducey served on the board of directors of and as a member of the governance and compensation committee of the board of directors of UAP Holdings Corporation. Marc Rowan, chief executive officer of Apollo Global Management Inc., gave $150,000, White: Have you put a dollar figure on how much investment you think that this tax program could generate? Mr. Simon earned a B.S. APOLLO COMMERCIAL REAL ESTATE FINANCE, INC. From Apollo to DZ Bank, funds snap up bargains in UK pension scramble, Transcript : Huntington Bancshares Incorporated - Analyst/Investor Day, Transcript : Apollo Global Management, Inc., Q3 2022 Earnings Call, Nov 02, 2022, Transcript : Apollo Global Management, Inc. Presents at BofA 27th Annual Financials CEO Conference, Sep-21-2022 07:45 AM, Transcript : Huntington Bancshares Incorporated Presents at The 2022 Morgan Stanley US Financials, Payments, & CRE Conference, Jun-15-2022 01:45 PM, University of Pennsylvania Stuart Weitzman School of Design. 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. Mr. Kleinman joined Apollo in 1996, Matt Nord and David Sambur, who joined the firm in 2003 and 2004, respectively, will be taking over the day-to-day operations of the private-equity business from Apollo Co-President Scott Kleinman, the firm said. In a statement on their appointments, Apollo co-presidents Scott Kleinman and James Zelter praised the pair for the breadth of their experience at Apollo, where each has worked since the early 2000s. record. 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. And so you could see the development of a support company for the Boeing Corporation here in North Charleston, whether its providing paint for the planes, or rubber for the wheels, or any other aspect of the engineering for the planes, theres a ton of opportunities out there that you could see. An increase in 17 percent to $779 billion in deficit for the last fiscal year. Equity ($70 billion of AUM), Credit ($158 billion of AUM) and Real He graduated from the College of William & Mary, where he received a bachelors degree in Economics. Gunn, 212-822-0540Investor Relations Managerngunn@apollolp.comorFor Ms. Richards graduated from Queens University, Ontario, Canada, with a BA in psychology and has obtained certification as a CPA, CMA. As a principal with Quattlebaum Development Company, alongside his brother Alex, Scott Quattlebaum is involved in all aspects of the business, including contracting, construction consulting, project management and brokerage transactions. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. 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. In 1947, Alex Quattlebaum, Sr., went into business with Harllee, renaming the company Harllee-Quattlebaum, Inc., where they continued to build homes, including several thousand at Camp Lajeune in North Carolina. offer of any Apollo fund. When Scott Kleinman joined Apollo Global Management in 1996, the firm founded by Leon Black, Mark Rowan and Josh Harris as a distressed debt specialist
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