Apollo Global Management has expanded its senior leadership team to include two co-presidents with the promotions of Scott Kleinman and James Zelter.
In connection with these appointments, the current roles of Chairman and CEO Leon Black, Senior Managing Director Josh Harris, and Senior Managing Director Marc Rowan, will continue with respect to Apollo’s strategic leadership and investment committee decision-making. The appointments of Mr. Kleinman and Mr. Zelter to the newly created positions of Co-President will be effective as of January 1, 2018, and they will report to Mr. Harris.
In their new positions, Mr. Kleinman and Mr. Zelter will have full responsibility for all of Apollo’s revenue-generating and investing businesses. Mr. Kleinman will focus on Apollo’s equity and opportunistic businesses, and Mr. Zelter will focus on Apollo’s credit and yield businesses. They both will continue to serve on the investment committees in their respective areas of focus.
Mr. Kleinman has been the Lead Partner for Private Equity since 2009 and is a member of Apollo’s Management Committee. He joined Apollo in 1996 from investment bank Smith Barney. Mr. Zelter is the Managing Director of Apollo’s Credit business, a member of Apollo’s Management Committee, and Chief Executive Officer and director of Apollo Investment Corporation. Prior to joining Apollo in 2006, Mr. Zelter was with Citigroup and its predecessor companies from 1994 to 2006. Prior to joining Citigroup in 1994, Mr. Zelter was a High Yield Trader at Goldman Sachs & Co.
“Scott has been with Apollo for more than two decades, and he has played a critical role in driving the growth of our private equity business while maintaining a best-in-class investment track record. Jim joined Apollo more than a decade ago, and he has done an extraordinary job overseeing the growth of our credit business into one of the world’s largest alternative credit platforms,” said Mr. Harris.
“Scott and Jim are two of the most talented investors and managers in the industry, and their promotions reflect a natural progression of their distinguished careers,” said Mr. Black. “This new leadership structure affirms and strengthens the inherent power of our integrated global investment platform with $242 billion of total assets under management across credit, private equity and real assets and a deep bench of world-class talent that we continue to develop and promote at Apollo.”
Apollo has total assets under management of $197 billion in private equity, credit and real estate funds invested across a core group of nine industries: chemicals; commodities; consumer & retail; distribution & transportation; financial & business services; manufacturing & industrial; media, cable & leisure; packaging & materials; and satellite & wireless. The firm has offices in New York, Los Angeles, Houston, Chicago, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong and Shanghai (www.agm.com).
© 2017 Private Equity Professional | November 14, 2017