Apollo Global Management has launched a new platform dedicated to impact investing.
The New York Stock Exchange listed alternative investment manager has hired a leadership team to run the impact investing platform Apollo Impact.
Marc Becker, a 24-year veteran and senior partner at Apollo will co-lead the platform alongside newcomer Joanna Reiss who joins from Cornell Capital where she was founding partner and responsible for the ESG programme.
Additionally, Apollo has hired Lisa Hall as chair of Apollo Impact from Georgetown University’s Beeck Center for Social Impact and Innovation. She help develop and oversee the platform. Justin Stevens, a senior partner at Apollo, will also serve as COO of the platform, focused on growth and development.
Apollo Impact will focus on private equity-type investments in later-stage companies to generat impact scaled. Financial incentives for Apollo’s management teams will be aligned with the achievement of impact performance.
A statement also said the platform builds on Apollo’s 30-year history of investing in line with the United Nations’ Sustainable Development Goals (SDGs) and will target investments in companies within the following areas: Economic Opportunity; Education; Health, Safety & Wellness; Industry 4.0; and Resource Sustainability.
Becker commented on the new launch: ”After nearly 25 years with Apollo, having helped the Firm emerge as a leader in the private equity sector, I am excited to help spearhead Apollo’s effort to do the same in the Impact industry. Our LPs care about the effects of their investments and we look forward to helping build this new platform that seeks to improve societal issues and maximize positive impact.”
Reiss added: “Impact investing will be an important growth engine for the economy, and Apollo’s decades of experience in acquiring and managing businesses is an unparalleled platform from which to make impact-oriented investments, help these businesses to grow and ultimately drive measurable impact with strong financial returns. I am honored to join Marc, Lisa and the entire team at Apollo on this mission.”