Invest Like the Best with Patrick O'Shaughnessy
John Zito - Inside Apollo - [Invest Like the Best, EP.426]
03 Jun 2025
My guest today is John Zito. John is the Co-President of Apollo Global Management. He shares how they've quietly built one of the most important financial institutions of our time, originating over $250 billion annually. John's thesis on the convergence of private and public markets - and Apollo's positioning to capture 100% of client portfolios rather than just alternatives allocations - offers a fascinating glimpse into where institutional investing is heading. We discuss the cultural and strategic elements that drive John, Apollo’s merger with Athene, the idea of artistry at scale, and the evolution of capital markets. Please enjoy my conversation with John Zito. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Ramp. Ramp’s mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to Ramp.com/invest to sign up for free and get a $250 welcome bonus. – This episode is brought to you by Ridgeline. Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Head to ridgelineapps.com to learn more about the platform. – This episode is brought to you by AlphaSense. AlphaSense has completely transformed the research process with cutting-edge AI technology and a vast collection of top-tier, reliable business content. Invest Like the Best listeners can get a free trial now at Alpha-Sense.com/Invest and experience firsthand how AlphaSense and Tegus help you make smarter decisions faster. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like the Best (00:05:55) The Rise of Apollo and Credit Markets (00:08:05) Innovations in Asset Management (00:11:42) The Role of the US in Global Capital Markets (00:15:26) The Future of Asset Management and Investment Strategies (00:21:03) The Impact of Interest Rates on Investment (00:25:27) Apollo's Business Model and Growth (00:25:17) The Changing Landscape of Private Markets (00:46:03) Apollo's Culture and Vision (00:47:54) The Importance of Company Culture (00:52:52) The Future of Private and Public Markets (00:57:50) Building a Great Origination Platform (01:02:03) Exciting Deals and Personal Stories (01:14:47) The Role of AI and Future Opportunities (01:22:16) Maintaining Company Culture Amidst Change (01:24:06) The Kindest Thing Anyone Has Ever Done For John
Full Episode
The best operators have a relentless focus on leverage, finding ways to multiply their impact rather than just working harder. But here's what I see happening in finance teams everywhere. Brilliant people getting buried in expense management busywork. If you think about it, you become a finance leader because you love strategic work.
modeling scenarios, optimizing capital allocation, finding the insights that actually move the business forward. But instead, you're chasing receipts and categorizing transactions. It's the opposite of leverage. This is exactly why I'm so bullish on what the team at Ramp has built.
Kareem and Eric understood that every minute spent on manual expense management is a minute stolen from high leverage work. So they automated all of it. Automatic categorization, receipt matching, spending controls that actually work. Check out ramp.com slash invest and see what happens when you eliminate the busy work. Cards issued by Sutton Bank, member FDIC. Terms and conditions apply.
To me, Ridgeline isn't just a software provider, it's a true partner in innovation. They're redefining what's possible in asset management technology, helping firms scale faster, operate smarter, and stay ahead of the curve. I want to share a real-world example of how they're making a difference. Let me introduce you to Brian. Brian, please introduce yourself and tell us a bit about your role.
My name is Brian Strang. I'm the Technical Operations Lead, and I work at Congress Asset Management.
How would you describe your experience working with Ridgeline?
Ridgeline is a technology partner, not a software vendor, and the people really care. I get sales calls all the time and I ignore them. Ridgeline sold me very quickly. We went from 7 billion to 23 billion and the goal is 50 billion. Ridgeline was the clear front runner to help us scale. In your view, what most distinguishes Ridgeline? They reimagined how this industry should work.
It was obvious that they were operating on another level.
It's worth reaching out to Ridgeline to see what the unlock can be for your firm. Visit RidgelineApps.com to schedule a demo. One of the hardest parts of investing is seeing what's shifting before everyone else does. AlphaSense is helping investors do exactly that.
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