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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Appearances
And they've all pursued this in various forms of open-ended vehicles.
B REIT famously, almost all of these managers have publicly traded BDCs in market.
And they've also pushed into the private wealth channel with things like non-traded REITs and other products that don't have that fixed fund life.
And Apollo has some of those as well, but it's really been their focus and doubling down on insurance, more specifically retirement solutions or what we might think of as annuities, that it was the strategic breakthrough for Apollo.
And today, that perpetual capital bucket is 450 billion of Apollo's total 750 billion of AUM.
Apollo merged with Athene in 2022, which was an annuity provider.
And since then the stock has basically doubled.
But if you go back to the IPO of Apollo, the stocks annualized at around 16% since 2011.
But to get there, you really have to go back to the very beginning and understand where that strategic initiative came from and why it was such a cultural product of where Apollo started and the founders of the firm.
Okay, so Apollo was founded in 1990.
And canonically, and the folks that came to be thought of as the founders of Apollo were Leon Black, Joshua Harris, and Mark Rowan.
But there's a lot of Drexel alums that were within this group that founded Apollo.
Tony Ressler, who would go on to establish Ares, was within this initial group.
All of them were Drexel Burnham Lambert alums that came up under Michael Milken.
I really can't overstate how this background.
background is foundational to the firm.
So to do a quick history lesson, Milken established the junk bond market.
Prior to Milken, bonds were for blue chip stayed safe companies.
Milken
Realized that there was a market for lower-rated, higher-yielding debt.
Showing 41–60 of 537 · page 3 of 27
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