Apollo Launches “Apollo Opportunity Foundation” to Advance Economic Prosperity and Expand Opportunity
Apollo committed more than $100 million at the launch of the Apollo Opportunity Foundation to invest in initiatives focused on access to education, workforce development and economic empowerment
NEW YORK, Feb. 22 10, 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 employee-led organizations that seek to remove barriers for underrepresented people. The Foundation builds on Apollo’s ongoing efforts to expand opportunities in the company’s ecosystem, including its workplace, marketplace and the communities where it operates. The Foundation will partner with nonprofit organizations working to advance economic prosperity on three key pillars:
Educational access: Provide early exposure and preparation for careers in finance and high growth industries through educational programs, mentoring and financial literacy
Workforce development: Expand career paths through professional development, upskilling/retraining and coaching
Economic emancipation: Provide leadership development and networking for emerging leaders, and access to capital for entrepreneurs
“We recognize that all of us at Apollo have benefited from the opportunities presented to us and we have a responsibility to extend these opportunities to those around us who would not otherwise have access to them. It’s at the heart of our purpose, our values and ultimately our way of doing business,” said Marc Rowan, CEO of Apollo. “Our Expanding Opportunity initiative has been about engaging our entire team at all levels of Apollo and Athens in a way that is authentic and personal to all of our employees. We partner with organizations that can foster access to the education, 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 ongoing engagement with grant recipients, Apollo empowers our people, 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 companies to review and evaluate all organizations nominated by their colleagues for funding.
“Around the world, our employees are extremely passionate about making a difference, volunteering thousands of hours a year, serving on nonprofit boards and engaging with our communities. We look forward to tapping into that passion and maximizing our reach through the Foundation,” said Lauren Coape-Arnold, Global Citizenship Lead and Executive Director of the Apollo Opportunity Foundation. “By strategically investing in organizations and then matching that capital with our talents, the Apollo Opportunity Foundation can help increase the impact of our grantees, leading to transformative change. »
The Apollo Opportunity Foundation is a continuation of the work Apollo has underway to expand opportunities and increase the company’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 nonprofit organizations on an annual basis, with more than 90% of company participation. Most recently, Apollo launched a Supplier Diversity Program with the goal of reaching more than $1 billion in diverse spend across its private equity portfolio by 2024. Since the launches of VetNet and HBCUNet to attract, train and provide career opportunities for veterans and HBCU and graduate students to form strategic partnerships with female and female-led asset managers, Apollo finds innovative ways to effect positive change and achieve tangible results.
For more information on the Apollo Opportunity Foundation, click here.
Apollo is a high growth global alternative asset manager. We seek to provide our clients with excess return at every stage of 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 on our fully integrated platform, we meet the retirement income and financial return needs of our clients, and we offer innovative capital solutions to businesses. Our patient, creative and knowledgeable approach to investing aligns our clients, the companies we invest in, our employees and the communities we impact, to expand opportunities and achieve positive results. As of December 31, 2021, Apollo had approximately $498 billion in assets under management. To learn more, visit www.apollo.com.
Apollo Forward-Looking Statements
This press release contains forward-looking statements 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 the beliefs of management, as well as assumptions made by management and information currently available to it. When used in this press release, the words “believe”, “anticipate”, “estimate”, “expect”, “intend”, “may”, “will”, “could “, “should”, “could”, “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 cannot guarantee that these expectations will prove to be correct. It is possible that actual results differ, perhaps 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 in the section titled “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, the Annual Report of Apollo Asset Management Inc. (“AAM”, formerly known as Apollo Global Management, Inc.) on Form 10-K was 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 these factors may be updated from time to time otherwise 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.go v. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements 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 by any Apollo fund.
Global Head of Investor Relations
Apollo Global Management, Inc.
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Global Head of Corporate Communications
Apollo Global Management, Inc.