Apollo Global Management Winner

Apollo is one of the world’s most prominent private equity firms, with a swashbuckling style, an innovative spirit and a socially conscious side. With $631 billion in assets under management, the third largest among PE purveyors, Apollo has continued to make deals during a drought for private equity.

Founded in 1990 by three alumni of the iconic, controversial and now-defunct buyout shop Drexel Burnham, Apollo has a reputation for boldness. It was the first PE outfit to go public, for instance.

In 2023, with other PE providers retrenching, Apollo struck several deals, most notably an $8.1 billion acquisition of chemical company Univar Solutions; a $5.2 billion takeover of Atlas Air Worldwide, which leases aircraft to commercial and freight carriers; and a buyout of aluminum supplier Arconic, for the same amount as the Atlas purchase. Unlike many other PE firms, in 2023, Apollo had little difficulty raising capital, scoring $20 billion in commitments for its 10th buyout fund.

Named after the Greek sun god, Apollo has made major investments in solar energy and other decarbonization projects, ranging from offshore wind to electric vehicles. Over the past five years, it deployed $23 billion into alternative energy efforts. Meanwhile, during 2023, Apollo devoted $2 billion to diverse businesses in its 350-company portfolio.

Finalists

• 17Capital
• Ariel Alternatives, LLC, private equity subsidiary of Ariel Investments, LLC