Apollo Global Management

From Global Energy Monitor

Apollo Global Management is a private equity and investment management firm headquartered in New York City, New York. In 2021 its fiscal year net income was approximately US$4.26 billion, with total assets under management of $497.6 billion.[1]

The company was incorporated on March 3, 2021.[2] Appolo’s former CEO, Leon Black, is the brother-in-law of Antony Ressler, the CEO of Ares Management, another major private equity firm.[3]

Political Contributions

Chief Executive Officer Marc Rowan has an extensive history of political contributions, primarily to Republican candidates, as well as a few centrist Democrats such as Krysten Sinema and Joe Manchin. In December 2021, he contributed $1 million to the Senate Leadership Fund, a super PAC which, in its own words, has “one goal: to protect and expand the Republican Senate Majority when Elizabeth Warren, Bernie Sanders and Chuck Schumer, together with their army of left-wing activists, try to take it back in 2020.”[4]

Apollo Asset Management Co-Presidents Scott Kleiman and Jim Zelter have records of contributions to both Republican and (centrist) Democratic candidates and causes.[5]


In Q1 2021, Apollo spent $1.08 million in education lobbying for portions of the American Rescue Plan of 2021.[6] At the time, Apollo owned textbook and educational technology company McGraw Hill (which it later sold for $4.5 billion in summer 2021), as well as the parent company of the University of Phoenix, which it acquired for $1 billion in 2017.[7]

In 2017, Apollo loaned $187 million to the family business of President Donald Trump’s son-in-law, former White House Advisor Jared Kushner. In 2019, they also loaned $600 million to Yellow Corporation, a trucking company which later came under congressional scrutiny for receiving $700 million in funding from a federal COVID relief fund earmarked for “businesses deemed critical for national security."[8]

As of October 2021, Athene Holdings Ltd—an annuities provider purchased by Apollo Global in 2021—was the single largest client of top-earning US lobbying firm Brownstein Hyatt Farber Schreck.[9]

Fossil Fuel Footprint

As of January 2021, Apollo was estimated to have $5 billion in natural resources assets under management, and owned approximately fourteen fossil fuel and energy companies. At least two of its fossil fuel portfolio companies—Caelus Energy and Talos Energy—have come under fire for their environmental practices: in 2019 Caelus Energy reiterated plans to develop a massive oil field in Alaska’s Smith Bay, threatening crucial polar bear habitat, while in 2016 a company owned by Talos Energy pled guilty to two felony counts violating the Outer Continental Shelf Lands Act and two felony counts of violating the Clean Water Act in its Gulf of Mexico Operations.[3]

Leadership Team

Accessed February 2022:[10]

  • Marc Rowan – Chief Executive Officer, Apollo Global Management
  • Scott Kleinman – Co-President, Apollo Asset Management
  • Jim Zelter – Co-President, Apollo Asset Management
  • Jim Belardi – Chief Executive Officer, Athene Holding Ltd.

Management Committee

Accessed February 2022:[10]

  • Matthew Breitfelder – Partner, Global Head of Human Capital
  • Anthony Civale – Partner, Co-Chief Operating Officer
  • Stephanie Drescher – Partner, Chief Client & Product Development Officer
  • Martin Kelly – Chief Financial Officer, Co-Chief Operating Officer
  • Scott Kleinman – Co-President
  • William Lewis – Partner
  • Matthew Michelini – Partner, Head of Asia-Pacific & Co-Head of Hybrid Value
  • Gary Parr – Senior Managing Director
  • Joanna Rose – Partner, Global Head of Corporate Communications
  • Robert Seminara – Head of Europe, Partner, Head of European Private Equity
  • Dave Stangis – Partner, Chief Sustainability Officer
  • Chris Weideman – Partner & Global General Counsel
  • Jim Zelter – Co-President


  • Larry Bates, Mat Guliner, David Krone, Glenn Stevens

Contact Information

Global Headquarters
Apollo Global Management, Inc.
9 West 57th Street, 43rd Floor
New York, NY 10019
Phone: +1 (212) 515-3200
Web: https://www.apollo.com/

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External Links

  1. Apollo Global Management, “Apollo Global Management, Inc. Fourth Quarter and Full Year 2021 Earnings,” February 11, 2022.  
  2. "Apollo Global Management Inc,” Bloomberg, accessed February 14, 2022.
  3. 3.0 3.1 "Private Equity’s Dirty Dozen: 12 Firms Dripping in Oil and the Wealthy Executives Who Run Them,” report by LittleSis and the Private Equity Stakeholder Project, February 2022.
  4. Search for “Marc Rowan,” OpenSecrets, accessed February 14, 2022; “Senate Leadership Fund,” Ballotpedia, accessed February 14, 2022.
  5. Searches for “Scott Kleinman” and “Jim (James) Zelter,” OpenSecrets, accessed February 14, 2022.
  6. Julia Forrest, “Education lobbying groups boost spending as Biden administration sets to reverse DeVos-era policies,” OpenSecrets, June 30, 2021.
  7. Reuters, “Platinum Equity to buy McGraw Hill from Apollo for $4.5 billion,” CNBC, June 15, 2021; Sabrina Willmer, “Apollo Doubles Its Money in $1 Billion Bet on Tarnished Colleges,” Bloomberg Businessweek, May 20, 2021.
  8. Steve Vockrodt, “Kansas trucking company got $700 million from the CARES Act after lobbying Trump officials,” Nebraska Public Media (PBS/NPR), October 8, 2021.
  9. David French and Chibuike Oguh, “Apollo Global to buy annuities provider Athene in $11 billion deal,” Reuters, March 8, 2021; Xiumei Dong, “Brownstein, Akin vie for top lobby spot amid D.C. spending push,” Reuters, October 20, 2021.
  10. 10.0 10.1 Apollo Global Management "About - Our People," organizational web page, accessed February 14, 2022.