Apollo Names Two New Co-Heads of its Private Equity Business

The alternative asset manager also appointed co-heads of the natural resources and infrastructure businesses.

Apollo Global Management headquarters. (Andrew Harrer/Bloomberg)

Apollo Global Management headquarters.

(Andrew Harrer/Bloomberg)

Apollo Global Management has new leadership for its $77 billion private equity business.

Senior partners Matt Nord and David Sambur have been promoted to co-lead partners of private equity, the alternative asset manager announced Thursday. In a statement on their appointments, Apollo co-presidents Scott Kleinman and James Zelter praised the pair for the “breadth of their experience” at Apollo, where each has worked since the early 2000s.

“Matt and David have been at the helm of numerous successful private equity transactions during their tenure at Apollo across an array of industries,” Kleiman and Zelter said in the joint statement. “They have also been very involved in the day-to-day operations of Apollo’s flagship private equity business and have established themselves as leaders from a strategy and culture standpoint.”

In their new roles, Nord and Sambur will continue to report to Kleinman, who had served as the lead partner for private equity since 2009.

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In addition to these two appointments, Apollo announced the promotions of senior partners Olivia Wassenaar and Geoff Strong to co-leads of the firm’s natural resources business, which has approximately $5 billion in assets under management. Wassenaar joined Apollo as a partner in August of last year, while Strong has been at the firm since 2012.

Greg Beard, who until now served as global head of natural resources, will transition to a role as a senior advisor, according to the announcement.

Apollo also announced that it has hired Dylan Foo, a partner at Australian investment firm AMP Capital, as co-lead of Apollo’s $2 billion infrastructure business. Strong will serve as co-lead of infrastructure in addition to his role co-leading the natural resources group to “optimize the inherent synergies” between the two asset classes, according to the statement.

“Infrastructure and natural resources are key areas of investment focus for Apollo, and we believe this new leadership structure will best position these businesses for the future,” Kleinman and Zelter said.

Speaking on Thursday’s announcement, Apollo’s chairman and chief executive Leon Black said the new appointments “reflect Apollo’s deep reservoir of proven investment talent and lay the foundation for the firm’s next generation of leadership.”