Rowan Targets Retail-Focused Firms to Back Private Asset Growth

Asset managers that reach retail clients have become a new market for private investments, Apollo Global Management Inc. Chief Executive Officer Marc Rowan said.

He sees those firms as potentially becoming one of the largest blocs backing private assets — alongside institutions, insurance companies and individuals — with exposure to those investments increasing inside mutual funds, exchange-traded funds and “products of all types” offered to retail clients.

“This will allow our industry to reach clients we would never on our own reach and who want exposure to private assets, but will not get exposure to private assets directly,” Rowan told ...