Marc Rowan Calls Out Competitors That Won’t Trade Private Assets

Apollo Global Management Inc. Chief Executive Officer Marc Rowan said trading private assets has the potential to turn the industry “on its head” and said those who resist it are generally charging high fees that they don’t want revealed.

“In every industry where transparency of pricing and daily price availability has taken place, the industry has grown massively,” Rowan told analysts Tuesday after the firm reported its second-quarter results. “For those who resist this, it generally means that your fee is above where it’s supposed to be and you don’t want to shine a light on it.”