Apollo’s expansion in Asia brings in US$35bil

Forging ahead: Michelini at Apollo Global Management Inc’s offices in Hong Kong. The company’s revamp of its Asia business is starting to pay off as it raised a substantial number in the region since the start of 2022 to bolster expansion. — Bloomberg

HONG KONG: Apollo Global Management Inc’s revamp of its Asia business is starting to pay off. It’s raised US$35bil from the region since the start of 2022 to bolster expansion.

Under head of Asia-Pacific Matthew Michelini, the person chief executive officer Marc Rowan picked to reshape Apollo’s presence in the region, the company has been tapping into clients’ demand for more reliable yields from private-market investments, including credit and hybrid financing.