The View From Apollo - Adjusting Portfolio Allocations Amid an Uncertain Outlook

Adjusting Portfolio Allocations Amid an Uncertain Outlook

Alexander Wright, Partner and Global Wealth Strategist at Apollo, and J.P. Vicente, Global Head of Content Strategy for Client and Product Solutions, discuss the current state of the capital markets, including reading the Fed’s tea leaves, asset allocation in 2024, and the growing deployment of alternatives in wealth portfolios.

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Private Credit: Unlocking Direct Lending Opportunities in 2024

Private Credit: Unlocking Direct Lending Opportunities in 2024

Jim Vanek, Co-Head of Apollo’s Global Performing Credit business, discusses his views on the market environment for private credit and the key drivers for the asset class in 2024.

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2024 Outlook: What’s Next After the “Fed Pivot”?

2024 Outlook: What’s Next After the “Fed Pivot”?

The “Fed pivot” in December to a dovish stance underscores the rapidly shifting outlook for both growth and inflation. Going into 2024, we still see upside risks to inflation, downside risks to growth, and expect rates to stay higher and for longer than the rest of the market does. In this paper and upcoming class, Chief Economist Torsten Sløk discusses the implications for corporate growth, banking, consumer spending, and financial markets.

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Infrastructure Investing: A Resilient Alternative in Times of High Inflation and Rates

Infrastructure Investing: A Resilient Alternative in Times of High Inflation and Rates

In an environment characterized by stubbornly high inflation and elevated interest rates, private infrastructure has displayed remarkable resilience. In this paper, we illustrate why innate traits like inflation protection, recent US government policy, and game-changing innovations in AI make us bullish about infrastructure’s long-term prospects.
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Asset-Backed Finance: The Next Evolution of Private Credit

Asset-Backed Finance: The Next Evolution of Private Credit

From residential mortgages to credit cards and student loans to planes, trains, automobiles, and more, asset-backed finance (ABF) is a critical financing tool that touches the everyday lives of businesses and consumers. We see this rapidly growing asset class as the natural progression of private credit.
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Clean Transition Investing: An Unprecedented Opportunity

Clean Transition Investing: An Unprecedented Opportunity

The world requires substantial investment in the transition to cleaner sources of energy. We view investment in the clean transition as an overarching theme rather than a specific asset class. Solutions will require investments across the capital stack and with all forms of capital—including equity, debt, and various real-asset structures—from both public and private sources.
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Beyond Beta

Beyond Beta: How to Use Alternatives to Replace Public Equity

A purpose-built portfolio of alternatives can replicate the return profile of public equities while mitigating key vulnerabilities of the asset class—namely high volatility, elevated inflation sensitivity, and a shrinking investable universe. We explore what such an alts portfolio can look like and discuss practical considerations to replacing public equity with alternatives.
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Register today for the Apollo Academy course on Alternative Investing. We offer 10+ hours of on-demand classes—complete with CE credit certificates—ranging from in-depth discussions on key asset classes to portfolio construction, asset allocation, risk considerations, vehicles, and more.
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How Alternatives Can Address Your 60/40 Portfolio Blues

A long-held mantra—that a diversified portfolio of public equities and bonds is the key to a successful retirement plan—is now being challenged by secular shifts taking place in financial markets today, including the end of the monetary printing press that started in 2008. What’s an investor to do? Lead Portfolio Manager Matt O’Mara tackles this question in our latest white paper.

Why Alternatives in Your Retirement Portfolio

Watch Apollo CEO Marc Rowan and Lead Portfolio Manager Matt O’Mara discuss how alternatives might help investors address a unique challenge they’re facing today: How the end of a long period of loose monetary conditions—combined with other secular shifts taking place in financial markets today—have coalesced to challenge the long-held mantra that a 60/40 portfolio of public equities and bonds is the key to a successful retirement plan.

Upcoming Events

Class 12 Building Resilience: Selecting the Right Assets for an Alternatives Portfolio
February 27, 2024 • 11:00AM ET

Credits

1

CFP / IWI / CFA
CE Credit

Topics

  • In this class, Matt O’Mara, Partner, Insurance Solutions Group, will discuss his views on how alternative investments can be used to help mitigate portfolio volatility at a time of rising market volatility and increased correlation among asset classes. A Q&A session will follow the presentation.

    In this class, Matt will cover:
    • Why traditional portfolio diversification strategies are becoming less effective, and how alternatives can help tackle the issue
    • How not all alternatives are created equal, and traits that can be attractive when seeking exposure to alts
    • The importance of factors—such as cash-flow generation and valuation—in private markets and how they can make alternative portfolios more resilient
Class 13 Mind the (Funding) Gap: How Private Credit Can Find Opportunity in Real Estate Debt Amid Dislocation
March 27, 2024 • 11:00AM ET

Credits

1

CFP / IWI / CFA
CE Credit

Topics

  • Scott Weiner, Apollo’s Global Head of Real Estate Credit, explores the environment in commercial real estate (CRE) and how dislocation has created a potentially attractive opportunity for private credit investors to provide financing. The presentation will be followed by a Q&A session.

    In this class, Scott will cover:
    • How CRE is much more than just office
    • The key drivers for CRE debt today
    • Lending opportunities created by market dislocation

On Demand: Alternative Investing Course

Session 2Alternative Investing Essentials Part Two
Now Available On Demand

Credits

4

CFP / IWI / CFA
CE Credits

Topics

  • Real Estate
  • Infrastructure
  • Digital Assets
  • Hedge Funds
Session 3Practical Considerations
Now Available On Demand

Credits

2.5

CFP / IWI / CFA
CE Credits

Topics

  • Commodities
  • Understanding Portfolio Construction
    • Asset Allocation
    • Risk Considerations
    • Fund Structures
    • Fees

On-Demand Classes

The Apollo Academy also offers additional CE-credit events on the discipline of alternatives investing as well as on key investing and economic top-of-mind topics, so you can keep your skills brushed up and your mind sharp for the ever-changing landscape of the capital markets.

Class 11Private Credit:
Unlocking Direct Lending Opportunities in 2024
Now Available On Demand

Credits

1

CFP / IWI / CFA
CE Credit

Topics

  • Jim Vanek, Co-Head of Apollo’s Global Performing Credit business, discusses his views on the market environment for private credit and the key drivers for the asset class in 2024.

    In this class, Jim covers:
    • Overview of rates, spreads, and expectations for the new year
    • Outlook for risk/return levels for private debt
    • Why he believes large corporate direct origination offers a particularly attractive opportunity
Class 102024 Economic and Capital Markets Outlook: What’s Next After the “Fed Pivot”?
Now Available On Demand

Credits

1

CFP / IWI / CFA
CE Credit

Topics

  • Watch Torsten Sløk, Chief Economist at Apollo, discuss his views for what’s in store for the economy and capital markets in 2024.

    In this class, Torsten covers:
    • Outlook for inflation and interest rates
    • The most significant downside risks facing the economy
    • The outlook for the US consumer, corporates, and the banking sector
    • Implication for financial markets
Class 9Infrastructure Investing in Times of Structural Change
Now Available On Demand

Credits

1

CFP / IWI / CFA
CE Credit

Topics

  • Andrew Kirby and David Cohen, Partners in Apollo’s Infrastructure Group, explain how a nuanced and disciplined infrastructure investment strategy can offer key attributes – including the potential for low correlation to the market cycle and inflation protection – to investors seeking safe harbor during times of market dislocation.

    In this class, Andrew and David cover:
    • The fundamental case for infrastructure investing
    • The risk/return benefits of an infrastructure-enhanced portfolio
    • The powerful tailwinds supporting infrastructure investment today
    • The infrastructure investors’ toolkit
Class 8Clean Transition Investing: An Unprecedented Opportunity
Now Available On Demand

Credits

1

CFP / IWI / CFA
CE Credit

Topics

  • Olivia Wassenaar, Head of Sustainable Investing, and Jonathan Silver, Chair of Apollo’s Global Climate Council, discuss the challenges of deep decarbonization and the clean transition, as well as the unprecedented array of opportunities to be found investing in this overarching theme.

    In this class, Olivia and Jonathan cover:
    • The impact and cost of climate change
    • The unprecedented investment opportunity of the clean transition
    • The case for a dedicated clean-transition sleeve in a portfolio
Class 7Mid-Year Economic and Capital Markets Outlook
Now Available On Demand

Credits

1

CFP / IWI / CFA
CE Credit

Topics

  • Apollo Chief Economist Torsten Sløk presents his views on the current economic environment and what it means for capital markets in the second half of the year.

    In this class, Torsten covers:
    • The outlook for growth, inflation, and interest rates
    • The state of credit and banking conditions
    • What’s in store for capital markets
Class 6Beyond Beta: How to Use Alternatives to Replace Public Equity
Now Available On Demand

Credits

1

CFP / IWI / CFA
CE Credit

Topics

  • Matt O’Mara, Lead Portfolio Manager, Insurance Solutions Group, and Keith Black, Adjunct Faculty, University of Massachusetts, will discuss their views on how alternatives can be used to partially replace investors’ exposure to public equities. A Q&A session will follow the presentation.

    In this class, Matt and Keith cover:
    • What happened to alpha in public equity markets?
    • Can investors truly replace public equity with alts?
    • From theory to practice: What to consider when deploying an equity-replacement portfolio?
Class 5Real Estate: What Lies Ahead and Why?
Now Available On Demand

Credits

1

CFP / IWI / CFA
CE Credit

Topics

  • Randy Anderson, PhD, Partner, Real Estate at Apollo, will discuss his views on what lies ahead for real estate investors—both private and public—in light of recent market corrections. The presentation will be followed by a Q&A session.

    In this class, Randy covers:
    • The state of the real estate market
    • How to search for value amid stressed public-market valuations
    • Secular trends driving opportunities in public and private real estate
Class 4Private Equity Investing Today: Dislocation Creates Opportunity
Now Available On Demand

Credits

1

CFP / IWI / CFA
CE Credit

Topics

  • David Sambur and Matt Nord, both Partners and Co-Heads of Private Equity at Apollo, discuss their views on the private equity investment environment and how recent dislocations in capital markets have created an attractive entry point into the asset class today. The presentation will be followed by a Q&A session.

    In this class, David and Matt cover:
    • Why invest in private equity and how to unlock value?
    • State of PE investing: What happens when cheap money goes away?
    • Allocating to PE today: Why 2023 is likely to be a good vintage year
Class 3Private Credit: An Allocation Strategy for 2023
Now Available On Demand

Credits

1

CFP / IWI / CFA
CE Credit

Topics

  • Jim Vanek, Co-Head of Apollo’s Global Performing Credit business, discusses his views on the current investment landscape for private credit and what it can mean for investors’ allocations in 2023 and beyond. The presentation will be followed by a Q&A session.

    In this class, Jim covers:
    • What’s the outlook for private credit in 2023?
    • What are current opportunities and entry points?
    • Why is private credit a key portfolio allocation strategy?
Class 22023 Economic and Capital Markets Outlook
Now Available On Demand

Credits

1

CFP / IWI / CFA
CE Credit

Topics

  • Watch Apollo Chief Economist Torsten Sløk discuss his views on what’s in store for the economy and capital markets in 2023.

    In this class, Torsten covers:
    • The outlook for the global economy in the year ahead
    • What to expect from the Federal Reserve
    • Potential impacts on equity and fixed-income markets
Class 1Why Alternatives in Retirement Portfolios
Now Available On Demand

Credits

1

CFP / IWI / CFA
CE Credit

Topics

  • Matt O’Mara, Lead Portfolio Manager, Insurance Solutions Group, discusses his views on why investing in alternatives matters to investors seeking to build wealth and save for retirement, especially at a time when traditional 60/40 portfolios of public equities and bonds are being challenged.

    In this class, Matt covers:
    • Secular trends impacting alternative investments
    • Incorporating alternatives into traditional allocations
    • Establishing a diversified alternatives portfolio

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Alternative Perspectives

Master the Basics

Apollo defines “alternatives” as an alternative to publicly traded stocks and bonds, seeking excess returns at every point along the risk-reward spectrum. We group our solutions in three categories: Equity, Hybrid (as defined as a mix of equity and debt), and Yield. Apollo’s introductory videos describe the basics of each alternative asset class. Taught by Keith Black, Adjunct Faculty at the University of Massachusetts, the videos cover the full spectrum of alternative asset classes (including venture capital and commodities, which Apollo’s solutions don’t currently address). They provide a broad understanding of the space for those seeking to invest in, or to augment, their exposure to alternatives.