Apollo chief predicts wave of asset partnerships will shake up Wall Street

Apollo Global Management chief executive Marc Rowan says a wave of partnerships between alternative and big asset managers will shake up Wall Street.

Rowan predicted that large private capital companies would increasingly distribute their investments, such as corporate buyouts, to traditional asset managers that had prioritised raising their clients’ exposure to unlisted assets.

He said companies such as Apollo could create co-branded investment funds or “massive managed accounts” with traditional asset managers that would widen investors’ ownership of unlisted assets.