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During the early 1970s, Alex was instrumental in creating the first Foreign Trade Zone in South Carolina and has owned and operated Foreign Trade Zones since 1974. result of new information, future developments or otherwise, except as Scott attended the College of Charleston and also holds an associate's But in order for that to happen, were going to have to do that in a bipartisan fashion or it just will not happen. White: OK. And then when were talking about these Opportunity Zones, I think you referenced a number, 50 million, as in the number of people that could be impacted by this. From 2008 to 2012, Mr. Kelly was with Barclays Capital and, from 2000 to 2008, Mr. Kelly was with Lehman Brothers Holdings Inc. Mr. Simon is currently Chairman of the Board, CEO and President of Simon Property Group. 7F, 1-1-12 Akasaka, Minato-ku, Tokyo, Co-President, Apollo Global Management, New York, Task Force on Global Capitalism in Transition. the University of Pennsylvania. He also previously worked on-air as a host, reporter and analyst for the American Broadcast Company (ABC-TV) for nearly 30 years and served as chairman of the national board of Big Brothers Big Sisters of America. estimate, expect, intend and similar expressions are intended to and in 2009 he was named Lead Partner for Private Equity. Mr. Kleinman received a BA and BS from the University of Pennsylvania and the Wharton School of Business, respectively, graduating magna cum laude, Phi Beta Kappa. Mr. Beilinson oversaw the Chapter 11 reorganization of Innkeepers USA, Fisker Automotive and Newbury Common Associates in his interim management roles as the Chief Restructuring Officer of those companies. WebScott Kleinman Co-President, Apollo Global Management Scott Kleinman (C94, W94), along with his wife Wendy Kleinman, established the Kleinman Center with a generous $10 million gift to the Stuart Weitzman School of Design. in Economics from Duke University. Scott: We could spend a long time talking about education because I think it really is the forerunner to opportunity. amended, and Section 21E of the Securities Exchange Act of 1934, as Apollo II is led by CEO Sanjay Patel, Executive Chairman Scott Kleinman and CFO and Chief Acccounting Officer James Crossen. In its early days, the company focused on general construction throughout the area, building roads and homes. Zelter to serve as Co-Presidents. To see how cookies are used, please review our cookie notice. Ms. Hormozi was Executive Vice President and General Counsel of Revlon, Inc. from April 2015 to July 2019, where she was responsible for overseeing Revlons legal affairs worldwide. Not as young as you are, Ben, but Im a young fellow. uncertainties and assumptions, including risks relating to our Krongard serves as an independent director and a member of the audit committee of Apollo Asset Management, Inc.s (AAM) board of directors. Walter Joseph (Jay) Clayton III serves as non-executive Chair, Chair of the executive committee and a member of the nominating and corporate governance committee of the AGM board of directors. Corner Office. Prior to joining Apollo, Mr. Kleinman was a member of the Investment Banking division at Smith Barney Inc. Ms. Joyner is a founding partner of Avid Partners LLC, a strategic marketing consulting firm. in History from the State University of New York at Albany. Thats one of the fictional stories that you can find out there. Sen. Tim Scott: What I have tried to do is create a program that is not a government-centric program, but that does create an incentive for people to take a second look at parts of the country that have been missed by the economic recovery that weve experienced over the last few years. Managing Director and Co-Founder, and Marc Rowan, Senior Managing From 2001 to 2004, Mr. Krongard served as Executive Director of the Central Intelligence Agency. This copy is for your personal, non-commercial use only. (AUM) of approximately $242 billion as of September 30, 2017 in Private We are dispersed right now, you and I. He participates in six to eight races a year driving vintage racecars as part of the Sportcar Vintage Racing Association, which he founded. The oldest executive at Apollo Global Management Inc is AlvinKrongard, 83, who is the Independent Director. Currently, Mr. Rowan is Chair of the Board of Advisors of The Wharton School and a member of the University of Pennsylvanias Board of Trustees. As long as there is need, I think the Opportunity Zone legislation provides an answer for those areas. Ms. Richards was also a member of the conflicts committee of AAMs board of directors from October 2020 through December 2021. businesses. Mr. Clayton served as Chair of the SEC from May 2017 through December 2020. Ms. Richards also serves as a member of the Audit and Governance Committees of the board of directors of Wyndham Hotels and Resorts. Our economy is absolutely moving in the direction of people deciding the quality of life they want, the location they want. To see how cookies are used, please review our cookie notice. As of December 31, 2022, Apollo had approximately $548 billion of assets under management. Zelter was Chief Investment Officer of Citigroup Alternative Apollos patient, creative, and knowledgeable approach to investing aligns its clients, businesses it invests in, its team members, and the communities it impacts, to expand opportunity and achieve positive outcomes. Mr. Emerson joined Microsoft from investment bank Lazard Ltd., where as a Senior Managing Director, he established and ran the west coast office, and advised clients on industry defining mergers, acquisitions and related financial transactions. There have been communities that have been mired in poverty for generations. Scott Kleinman is Co-President of Apollo, sharing responsibility for all of Apollos revenue-generating and investing business across its integrated alternative in Economics from the University of Cambridge (Thouron Scholar), and a J.D. of the worlds leading alternative investment managers.. Earlier in her career, Ms. Bibliowicz held senior management positions at Prudential Mutual Funds and Smith Barney Mutual Funds. He is a member and former chairman of the National Association of Real Estate Investment Trusts. Mitra Hormozi serves as an independent director and a member of the nominating and corporate governance and sustainability and corporate responsibility committees of our board of directors. Ms. Hormozi has served as a director of Athene Holding Ltd. (AHL) since December 2018 and is a member of AHLs compensation committee and legal and regulatory committee. On average, Apollo Global Management Inc executives and independent directors trade stock every 17 days with the average trade being worth of $20,784,123. This press release does not constitute an offer of any Apollo fund. David Sambur, left, and Matt Nord have overseen several recent Apollo deals. And hes championed essentially the only congressional effort to close this economic divide during Donald Trumps presidency. Pamela Joyner serves as an independent director and a member of the nominating and corporate governance committee of our board of directors. She continued to serve in both roles until NFP was acquired in 2013. The largest trade he's ever made was exercising 750,000 units of Apollo Global Management Inc stock on 5 September 2019 worth over $42,157,500. businesses, and Mr. Zelter will focus on Apollos credit and yield Scott Kleinman is Co-President of Apollo Global Management, Inc., co-leading Apollos day-to-day operations including all of Apollos revenue-generating The correlation, of course, is that education and opportunity are like wet and water. Marc A. Beilinson serves as an independent director and Chairperson of the compensation committee of our board of directors. A lot of times, when were talking about economic opportunity and inequality, theres a tension there. When used in this press release the words believe, anticipate, estimate, expect, intend and similar expressions are intended to identify forward-looking statements. White: So Im a distributed worker and Im. In 2014, Mr. Kleinman founded the Kleinman Center for Energy Policy at the University of Pennsylvania. She was previously Co-Chair of the San Francisco Ballet Association. Alex was previously on the advisory board of Trident Technical College. This dedicated strategy will employ the expertise of Apollos broader sustainable investing platform, as well as the Firms long-standing sustainability ecosystem. The company has approximately two million square feet in its current inventory across five properties, all located in Foreign Trade Zones and in the Southeast. With approximately two million square feet in its inventory, Quattlebaum Development Company currently owns McQueen Park in Jedburg, Cainhoy Park and McCall Center in Charleston, Tri-County Industrial Park in Summerville and Florence Industrial Park in Florence. He is a member of AHLs executive committee and ISGs executive committee. Jim Zelter is Co-President and a member of the board of directors of Apollo Asset Management, Inc. (AAM). In connection with these appointments, the current roles of Leon Black, Apollo believes these factors include but are not limited to those described under the section entitled Risk Factors in Apollo's annual report on Form 10-K filed Ms. Bibliowicz also serves as an independent director and a member of the audit committee of Apollo Global Management, Inc.s board of directors. Prior to joining Apollo, Mr. Kleinman was a member of the Investment Banking division at Smith Barney Inc. In that time, Ms. Joyner has served as chair of First Republic Banks investment and compensation committee, and as a member of its governance committee. Scott grew up in poverty, spending his high school years living in this apartment complex in North Charleston. In 2014, Mr. Kleinman founded the Kleinman Center for Energy Policy at the University of Pennsylvania. believe these factors include but are not limited to those described He served as President of Simon Property Groups predecessor from 1993 to 1996, and he has served as a director of Simon Property Group or its predecessor since the companys incorporation in 1993, beginning his role as Chairman in 2007. from New York University and graduated magna cum laude with a B.A. Our ability to deploy capital at scale across sectors and strategies can provide attractive, diversified exposure to this generation-defining opportunity to address climate change, said Olivia Wassenaar, Apollos Head of Sustainable Investing. Scott: Theres over $1 trillion on the sidelines in the United States that could be deployed. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Mr. Simon served as an independent director of Apollo Asset Management, Inc.s board of directors from June 2021 through December 2021. From May 2006 to July 2016, Mr. Ducey was a member of the board of directors of Verso Paper Holdings, Inc. and served as Chairman of the audit committee. Although management believes that this press release and in other filings. Scott M. Kleinman is a Co-President at Apollo Global Management, Inc. /Private Equity/, a Co-President & Director at Apollo Global Management, Inc., an Executive This site uses cookies. As the American economy has grown more unequal, with urban areas thriving and rural areas falling behind, free-market Republicans have generally stayed away from the debate about potential government solutions. In the asset management business, Apollo seeks to provide its clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid, and equity. PD=Previous Day. He currently serves on the board of directors of ISG, Paulist Productions, where he chairs the investment committee, and Southern California Aquatics. This press release does not constitute an Today, its in the low 6 percent range. Senator Toomey represented Pennsylvania in the U.S. Senate from 2011 to 2023, serving on the Senate Banking, Housing, and Urban Affairs; Budget; and Finance Committees, as well as the Joint Economic Committee and the Joint Select Committee on Deficit Reduction. She is a member of the Board of Prudential Insurance Funds and previously served on the Board of Directors for Sothebys until it went private in 2019. And so you could see the development of a support company for the Boeing Corporation here in North Charleston, whether its providing paint for the planes, or rubber for the wheels, or any other aspect of the engineering for the planes, theres a ton of opportunities out there that you could see. WebScott aims to formally announce the bid by the end of May, according to a person familiar. 87990cbe856818d5eddac44c7b1cdeb8, Continue reading your article witha WSJ subscription, Already a subscriber? Mr. Simon earned a B.S. From July 2010 to May 2011, Mr. Ducey was a member of the board of directors and served on the audit committee of Smurfit-Stone Container Corporation. ACT Capital will work alongside other strategies across Apollos sustainable investing platform toward the $50 billion target. NEW YORK--(BUSINESS WIRE)-- A full-service company with a hands-on approach to management, Quattlebaum Development Company oversees the entire development process from site location and design to construction and property management. Lynn Swann serves as an independent director and a member of the compensation committee of our board of directors. To learn more, please visit www.apollo.com. Apollos revenue-generating and investing businesses, and working Jim joined Apollo more than a decade ago, and he has done an Apollo Global Management, Inc. 9 West 57th Street New York, NY 10019 December 1, 2021 Personal and Confidential Scott Kleinman [Address on file with the Company] Re: Employment and Compensation Terms Dear Scott: He also serves as Chairman of the Supervisory Board of Klepierre, a publicly traded Paris-based European leader in shopping malls. The idea for Opportunity Zones initially came from the Economic Initiative Group, a D.C. think tank set up by Sean Parker, the tech billionaire who co-founded Napster and served as the first president of Facebook. Alex Quattlebaum, Jr., joined the company in 1965, moving from assistant superintendent to eventually president and CEO. School of Business, respectively, graduating magna cum laude, Phi Beta [II Deep Dive:Apollos Josh Harris Talks Private Markets at Delivering Alpha]. Scott: I was at lunch today with some folks and the primary question on their minds was the national debt and how we wrestle with that. These Data delayed Scott: Im a young fellow. Mr. Belardi has a Bachelor of Arts degree in economics from Stanford University and a Master of Business Administration from the University of California, Los Angeles. I think weve seen that number improve for every minority group. I think a realistic estimate in the first few years would be about $100 billion. Singapore, Hong Kong and Shanghai. QuoteMedia. Scott's mailing address filed with the SEC is C/O APOLLO GLOBAL MANAGEMENT, INC., 9 WEST 57TH STREET, 42ND FLOOR, NEW YORK, NY, 10019. A.B. reasonable, it can give no assurance that these expectations will prove The Quattlebaum family emphasizes hands-on management, down to the smallest details, including being on site for all phases of construction for every property. If you will make a long-term investment in one of these zones, then you can deferyou dont eliminate, but you deferyour capital gains tax for up to 10 years, or through the year 2026. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. They are very difficult to separate. Market Data copyright 2023 QuoteMedia. Sen. Tim Scott, a Republican and the first African American to represent South Carolina in the U.S. Senate, outside his childhood home in North Charleston. During the early 70s, he was also instrumental in establishing the first Foreign Trade Zone in South Carolina and today owns two such trade zones where many Quattlebaum Development Company properties are located. Mr. Clayton earned a B.S. Quattlebaum Development Company today is now run by a third-generation of the Quattlebaum family -- brothers Alex Quattlebaum, III and Scott Quattlebaum, assisted by their dad and CEO Alex Quattlebaum, Jr. And frankly, obviously, it leads to lower net worth. The following transcript has been condensed and lightly edited for clarity. In addition, Mr. Belardi is the founder, Chairman and Chief Executive Officer of ISG, AHLs investment manager. Alex, who has traveled, worked and lived across the world, made his first entry on the international scene as one of the original 35 members of the Peace Corps in 1961. From 2016 to 2019, Mr. Swann served as the Athletic Director of the University of Southern California, where he was responsible for overall administration of 21 womens and mens Division I athletic programs at the university. delay times for all exchanges). Quattlebaum Development Company traces its beginnings back to 1927 when it was originally founded by Capt. We sought to build this transformational platform to meet what we view as an underserved need in the climate finance marketplace for both investors and industry participants.. Investments, and prior to that he was responsible for the firms Global It is not yet operational; the Treasury Department in October released proposed rules to guide investors on how to take advantage of the tax incentives. He is a member of the Board of Overseers at the University of Pennsylvania Stuart Weitzman School of Design.s. Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Just one more thing on the broad macroeconomic level that Im interested in: the federal deficit and the national debt, and the fact that weve seen the numbers go up pretty significantly. Prior to joining Compass Minerals International, Inc., Mr. Ducey worked for nearly 30 years at Borden Chemical, Inc., in various management, sales, marketing, planning and commercial development positions, and ultimately as President, Chief Executive Officer and Director.