Rowan’s Apollo Break Leaves Time for His Hamptons Side Hustle

For years, Apollo Global Management Inc.’s Marc Rowan oversaw the firm’s financial services and insurance businesses. His semi-sabbatical announced Thursday should give him more time to focus elsewhere, not least his thriving Hamptons restaurants.

Rowan, the brains behind Athene Holding Ltd., the insurer that made Leon Black’s investment firm the envy of Wall Street, is taking a break from day-to-day involvement with Apollo. It was a surprise twist at a firm that’s highly profitable despite recent market turmoil.

Read more: No One Makes Money Like Leon Black

The 57-year-old has long stood in the shadow of Black, ...