Apollo on Hiring Spree as It Seeks to Expand Business in Japan

Group 1 - Apollo Global Management LLC (APO) aims to expand its Asia wealth business in Japan by hiring ten new employees and plans to double its staffing in the region over the next two years [1][2] - The Private Wealth business, launched in 2022, has raised nearly $5 billion from wealthy investors in Asia and is expected to be a key growth driver for Apollo in Japan [1][2] - The company targets raising at least$150 billion for its global wealth business by 2029 [1] Group 2 - Japan's private equity market is experiencing significant growth, with the country accounting for 30% of total private equity deal value in the Asia-Pacific region in 2023, a substantial increase from a 7% average over the previous five years [3] - In 2023, Japan recorded a 23% year-over-year increase in deal value, totaling approximately $123 billion [3] - Factors such as improved corporate governance and a weaker yen have contributed to Japan's attractiveness for investment, coinciding with a boom in dealmaking over the past two years [4] Group 3 - Over the past six months, APO shares have increased by 36.8%, outperforming the industry average rise of 26.5% [5] - Apollo currently holds a Zacks Rank of 3 (Hold) [6]