Apollo exec Marc Rowan says he expects up to $20 billion from investors this year as the firm makes a raft of changes post-Jeffrey Epstein investigation
Summary List Placement Apollo Global Management's incoming chief executive Marc Rowan says major fund investors have stood by the firm after revelations that its chief founder and CEO Leon Black had significant financial ties to the convicted sex offender Jeffrey Epstein.
The $450 billion billion alternative-investing firm said in late January that Black would give up his CEO role but remain the chairman of its board after an independent investigation found the billionaire exec had paid Epstein $158 million - more than previously known - for business advice .
The firm initiated other management and governance changes, stating that it would consider abolishing the firm's dual-class voting shares, which grant Black control of the company's board, and appoint four independent directors. It said that Rowan, who had been on a semi-sabbatical from the firm, would return and take over the job as chief executive by July.
Rowan suggested those steps had mollified the firm's large limited partners, a roster that...
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