Apollo Launches ‘Apollo Opportunity Foundation’ to Advance Economic Prosperity and Expand Opportunity

Rhea-AI Summary

Apollo has launched the Apollo Opportunity Foundation, committing over $100 million to promote educational access, workforce development, and economic empowerment over the next decade. This initiative aims to eliminate barriers for underrepresented individuals and is supported by Apollo employees who will assist in nominating and evaluating organizations for funding. The Foundation aligns with Apollo's commitment to corporate citizenship and community engagement, building on previous efforts to diversify the alternative investment industry and promote career opportunities.

Positive

• Commitment of over $100 million for the Apollo Opportunity Foundation.
• Focus on educational access, workforce development, and economic empowerment.
• Employee involvement in nominating and evaluating grant recipients.
• Continuation of previous initiatives to diversify the investment industry.

Negative

• None.

Apollo Has Committed More Than $100 Million at Launch for the Apollo Opportunity Foundation to Invest in Initiatives Focused on Educational Access, Workforce Development and Economic Empowerment

NEW YORK, Feb. 22, 2022 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced the launch of the Apollo Opportunity Foundation (the “Foundation”). Apollo has committed more than $100 million for the Foundation to invest over the next decade in organizations championed by employees that seek to eliminate barriers for underrepresented individuals. The Foundation builds on Apollo’s ongoing efforts to expand opportunity across the Firm’s ecosystem including its workplace, the marketplace and the communities where it operates. The Foundation will partner with non-profit organizations working to advance economic prosperity across three key pillars:

• Educational Access: Provide early exposure and preparation for careers in finance and high growth industries through educational programs, mentorship, and financial literacy
• Workforce Development: Expand career pathways through professional development, upskilling/reskilling, and coaching
• Economic Empowerment: Offer leadership development and network-building for emerging leaders, and access to capital for entrepreneurs
  

“We recognize that all of us at Apollo have benefited from opportunities provided to us and we have a responsibility to expand opportunity to those around us who wouldn’t otherwise have access. It is core to our purpose, values and ultimately, how we do business,” said Marc Rowan, CEO of Apollo. “Our Expanding Opportunity initiative has been about engaging our entire team across every level of Apollo and Athene in a way that is authentic and personal for all our people. We are partnering with organizations that can drive educational access, workforce development and economic empowerment. Through the Foundation, we are excited to accelerate our mission and support positive change in the communities where we work and live.”

Apollo employees will play a central role in the Foundation. From identifying and nominating organizations to engaging with grant recipients on an ongoing basis, Apollo is empowering our employees, and they will be critical to the Foundation’s impact. As part of this effort, Apollo will establish a Grants Council made up of employees representing different levels, geographies, and businesses to review and evaluate all organizations nominated by their colleagues for funding.

“Across the globe, our employees are extremely passionate about making a difference, volunteering thousands of hours annually, serving on non-profit boards, and engaging with our communities. We’re looking forward to tapping into that passion and maximizing our reach through the Foundation,” said Lauren Coape-Arnold, Global Head of Citizenship and Executive Director of the Apollo Opportunity Foundation. “By strategically investing in organizations and then pairing that capital with our talent, the Apollo Opportunity Foundation can help to scale our grantees’ impact, leading to transformative change.”

The Apollo Opportunity Foundation is a continuation of the work Apollo has underway to expand opportunity and increase the Firm’s impact in its workplace, marketplace and communities. In 2021, Apollo co-founded AltFinance to diversify the alternative investment industry and provide career opportunities for students attending Historically Black Colleges and Universities (HBCUs). Through the Citizenship program, Apollo employees engage in a variety of programs that reach more than 1,500 non-profit organizations on an annual basis, with more than 90% of the Firm participating. Most recently, Apollo launched a supplier diversity program with the goal of achieving more than $1 billion in diverse spend across its private equity portfolio by 2024. From the launches of VetNet and HBCUNet to attract, train and provide career opportunities for veterans and HBCU students and alumni to forming strategic partnerships with diverse- and female-led asset managers, Apollo finds innovative ways to drive positive change and deliver tangible results.

For more information on the Apollo Opportunity Foundation, click here.

About Apollo
Apollo is a high-growth, global alternative asset manager. We seek to provide our clients excess return at every point along the risk-reward spectrum from Investment grade to private equity with a focus on three business strategies: yield, hybrid and opportunistic. Through our investment activity across our fully integrated platform, we serve the retirement income and financial return needs of our clients, and we offer innovative capital solutions to businesses. Our patient, creative, knowledgeable approach to investing aligns our clients, businesses we invest in, our employees and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2021, Apollo had approximately $498 billion assets under management. To learn more, visit www.apollo.com.

Apollo Forward-Looking Statements
This press release contains forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release, the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “may,” “will,” “could,” “should,” “might,” “plan,” “seek,” “continue” and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements. These statements are subject to certain risks, uncertainties and assumptions, including but not limited to those described under the section entitled “Risk Factors” in the joint proxy statement/prospectus filed by Apollo Global Management, Inc. (formerly known as Tango Holdings, Inc.) with the Securities and Exchange Commission (the “SEC”) on November 5, 2021, Apollo Asset Management Inc.’s (“AAM,” formerly known as Apollo Global Management, Inc.) Annual Report on Form 10-K filed with the SEC on February 19, 2021 and Quarterly Report on Form 10-Q filed with the SEC on May 10, 2021, and Athene’s Annual Report on Form 10-K filed with the SEC on February 19, 2021, amendment to its Annual Report on Form 10-K/A filed with the SEC on April 20, 2021 and Quarterly Report on Form 10-Q filed with the SEC on November 8, 2021, as such factors may be updated from time to time in Apollo’s, AAM’s or Athene’s periodic filings with the SEC, which are accessible on the SEC’s website at http://www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in other filings. Apollo undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of any Apollo fund.

Contacts

Apollo

For Investors:
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

For Media:
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

FAQ

What is the Apollo Opportunity Foundation launched by Apollo (APO)?

The Apollo Opportunity Foundation is an initiative by Apollo to invest over $100 million in educational access, workforce development, and economic empowerment for underrepresented individuals.

How much has Apollo (APO) committed to the Apollo Opportunity Foundation?

Apollo has committed over $100 million to the Apollo Opportunity Foundation.

When was the Apollo Opportunity Foundation announced?

The Apollo Opportunity Foundation was announced on February 22, 2022.

What are the key focus areas of the Apollo Opportunity Foundation?

The Foundation focuses on educational access, workforce development, and economic empowerment.

How will Apollo employees contribute to the Apollo Opportunity Foundation?

Apollo employees will nominate organizations for funding and engage with grant recipients, forming a Grants Council for evaluation.