Known for being an intense workplace, the private-equity firm Apollo gives associates opportunities that would be difficult to find elsewhere.
Casey Sullivan (@caseyreports) and Hayley Cuccinello (@HCuccinello) take a look at the investing powerhouse. ⬇️
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As an associate at Apollo Global Management, Reed Rayman once considered quitting. Now at 36 years old, Rayman has made it. He is the chairman of Yahoo, and a partner at Apollo, with a seat on the board of eight different companies.
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At Apollo, executives tend to grow up quickly. At rival firms like KKR and Blackstone, few if any of their investment professionals can claim to have made partner at age 33, as Rayman did.
Others at Apollo are similarly situated.
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Besides Rayman, there's Aaron Sobel, another 36-year-old who is the chair of Brightspeed.
Sobel helped coordinate Apollo's $760 million investment in Legendary, the production company behind the 2021 movie "Dune."
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Another prominent millennial dealmaker at Apollo is Robert Kalsow-Ramos. He recently snapped up EmployBridge.
He visits the company in Atlanta, sometimes brainstorming with its CEO about how to position the business amid economic uncertainty
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One of the biggest reasons Apollo's executives rise so swiftly is that the firm doesn't send its associates to get an MBA after two years of work.
None of the three men — Rayman, Ralsow-Ramos, or Sobel — have MBAs.
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Once associates are in the door, however, they are introduced to a world that can be jarring to an outsider, with volatile personalities and an always-on mentality in its private-equity group, according to accounts from nine former firm associates.
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The culture has evolved over the years and some executives describe its workplace to be collaborative today.
Today, Marc Rowan, the firm's current CEO, said he prioritizes partners when managing the firm's culture.
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Many sources attributed the firm's competitive culture to the private-equity executive Josh Harris, who held Sunday meetings at his home in the Hamptons so that his team could get a jump-start on the week ahead.
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Harris' departure early this year following a management shake-up has given the private-equity division some newfound freedom, according to people who have worked with Apollo's executives.
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Despite individual accolades, some believe that it is Apollo, the institution, that is responsible for these executives' growth, much more than any individual achievements.
Another said that many partners discourage individual credit.
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Subscribe to @thisisinsider to read the full story from Casey Sullivan (@caseyreports) and Hayley Cuccinello (@HCuccinello). ⬇️
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