Rowan cites 44% net returns on Apollo's 2001 fund to counter concerns about too much money chasing deals.
“And in that fund, which was the two thousand and one fund, 44% net returns. So now you fast forward and you look at the last three funds we've done.”
Rowan reports Apollo's thirty-two year track record shows 36% gross and 26% net returns with every fund making carry.
“If you look at the now thirty two year history, 36% gross 26% net returns every fund has made carry.”
Rowan says Athene has grown book value at 17% annually for twelve years.
“And when I look at what we've done, we have actually grown book value at about 17% for the last twelve years.”
Rowan states active management has failed to beat the index 85% of the time for twenty years.
“If you look at the active management, active management has failed to beat the index 85% of the time for twenty years.”
Rowan reports Apollo's best year ever with around $650 billion in assets under management.
“Single best year in Apollo's history. Earnings. Asset performance. The our platform as you think about it we are around 650,000,000,000 of assets under management in our asset management business.”