Apollo Ramps Up Hiring in Consulting Group With Focus on Tech
(Bloomberg) -- Apollo Global Management Inc. plans to double the size of its portfolio performance solutions unit in a push to improve digital operations among the companies it owns.
The consulting group brought in Vikram Mahidhar this week from Genpact, which focuses on digital-led innovation, to lead its data and technology transformation efforts. The unit, which started in April 2020 and looks solely at the firm’s private equity portfolio, has made nine hires over the past 12 months and Apollo intends to expand it to roughly 30 people in the next year-and-a-half, according to its head Aaron Miller.
“We believe we’re buying businesses that may have been overlooked, undervalued and that we can make at least digitally fluent through operational improvements,” Miller, who joined Apollo in 2019 to build out the group, said in an interview.
Apollo, with $472 billion in assets, is sharpening its focus on innovation in technology. Chief Executive Officer Marc Rowan said this month on an earnings call that he sees the area as a “significant opportunity” for the firm.
Last month, Apollo said it would collaborate with blockchain lending startup Figure Technologies Inc. on a series of initiatives and also announced it would buy a stake in Motive Partners, a smaller private equity firm specializing in fintech.
Read more: The ‘New Apollo’ Gets More Flexible and Techie
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