Rowan commits Apollo will grow 15% plus cash on cash annually with embedded options in democratization of finance.
“what we've told the Street is we will grow our business 15% plus cash on cash year over year, and I think that's really good.”
Rowan says a $16 million equity investment grew into $270 billion AUM making it the largest retirement services company.
“And what started out as a $16,000,000 equity investment has now morphed into 270,000,000,000 of AUM and the largest retirement services company in”
Rowan says Apollo's asset management business will grow over 25% this year.
“We've already said our business will be up in the asset management side. We've told the street better than 25% this year.”
Rowan says the private credit industry grew from $40 billion AUM in 2008 to $550 billion at Apollo.
“Our entire industry was 40,000,000,000 of AUM. Every one of the companies plus minus in 2008. We ended the year at 550,000,000,000.”
Rowan says Apollo grew Athene from $16 million equity in 2008 to $330 billion today.
“The other business is a business people don't know as well, that's the retirement services business, which we do through Athene. So in 2008, we started with a $16,000,000 equity investment.”
“So in 2008, we started with a $16,000,000 equity investment. We ended the year at 330,000,000,000 and have become the largest provider of retirement products in The US.”
Rowan says Athene's new sales grew from $20 billion four years ago to over $60 billion this year.
“Four years ago, we were 20,000,000,000 of new sales, then 30,000,000,000, then 47,000,000,000. This year, we'll do north of $60,000,000,000 of new sales, and it continues to be.”
Rowan says Apollo plans to double its business, limited by excess return not capital raising.
“Our business plan calls for a doubling of our business. And at the end of the doubling, liking who we are as a culture, our limiter is not capital raising.”
Rowan says tech companies went from zero to 11% of investment grade index extremely quickly.
“IG issued by the tech ecosystem went from nothing to 11% of the index in a in a flash.”
Rowan states $50 billion of signed deals will benefit future quarters and pipeline is at record strength.
“$50,000,000,000 of signed and announced in Q2 will benefit coming quarters. The pipeline has never been stronger”
Rowan says the private markets industry has expanded from one source of demand to six distinct investor categories.
“The future for the industry I also believe to be increasingly bright. As we've discussed in prior quarters, the entirety of our industry was built from one investor, one source of demand.”