Hunter Hopcroft
speaker
537 appearances
1 recordings
1 series
first heard Mar 2025
last heard Mar 2025
Hunter Hopcroft’s voice in public audio — every appearance, attributed to the second.
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So it's driven by people
And you want to keep those people and you need to find a way to compensate them and have them participate in the upside.
It's also really hard in general, at least it used to be, now things are changing a little bit, really hard to raise money just for platform expansion.
You're getting your fees and carry, but a lot of that's going out the door in compensation, and it's hard to reinvest in the business.
So they all go public in this 2010-2011.
They originally, most of them include
Apollo.
come public as limited partnerships, but in 2019 they make C Corp conversion.
This helps the founders monetize and and again, drawn to complexity, the founders set up all sorts of elaborate tax structures to go public and protect their wealth in this windfall of monetization of taking the names public.
But I think it also shows that these are becoming, especially post two thousand eight, two thousand nine, post Dodd Frank, that these are really becoming full fledged financial services companies in some ways.
They operate differently than banks, they make money differently than banks, but they are a key part of the financial system we have today.
Yeah, so they all want to grow.
And again, it's hard as private general partners to necessarily raise money for platform expansions.
So to your point, access to equity and debt capital markets allow them to go out and spin up new platforms, spin up new strategies.
And I think that's a big part of what you see as the growth following the GFC.
But I do also think that as a currency for talent, this is a very key element of why it makes sense in some degree for these companies.
Yeah.
Sure.
While Leon Black is certainly seen leading up to this as the key man at Apollo, this triumvirate of Black, Rowan, and Harris are still very much visible characters in Apollo's life.
In twenty twenty one, news breaks of Leon Black's involvement with Epstein, and right on the heels of that come additional sexual assault allegations, and Black basically accelerates his departure.
Showing 181–200 of 537 · page 10 of 27
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