Apollo Global Management CEO Marc Rowan anticipates a surge in collaborations between traditional asset managers and large private capital firms. Rowan believes this trend will reshape Wall Street as private capital companies distribute investments, like corporate buyouts, to traditional asset managers seeking to increase client exposure to unlisted assets. Rowan cited BlackRock's acquisitions of private credit and infrastructure firms as a sign of this shift, emphasizing that traditional firms are adapting to offer private funds.
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.
Those efforts come as fees on public funds fall and investors increasingly view public stock and bond portfolios as commodity products. “Our industry and our firm will be a supplier of products similar to traditional asset managers as they seek to make their products more competitive given the incredible amount of indexation and correlation,” said Rowan.
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