PODCAST: How Apollo rewrote the rules of Wall Street
Reuters
Last updated: September 8, 2026
This podcast episode examines how Apollo, a private equity and credit firm, has significantly altered Wall Street by accumulating $1 trillion in assets, often bypassing traditional big banks. The discussion explores Apollo's origins in the 1990s junk bond market and evaluates the long-term viability of its business model.
- The narrative traces Apollo's journey from its beginnings amidst the wreckage of the 1990s junk bond market to its current status as a major financial player. The firm's strategy involved a significant departure from conventional banking practices, enabling it to amass a substantial asset base.
- Key to Apollo's success has been its ability to innovate and adapt within the financial landscape. The podcast delves into the specific strategies and decisions that allowed Apollo to achieve this scale of growth and influence.
- A central theme is the firm's competitive advantage, particularly in its dealings with and against established large banks. The discussion seeks to understand the mechanisms through which Apollo effectively "elbowed aside" these traditional institutions.
- Furthermore, the episode scrutinizes the sustainability of Apollo's business model. It raises questions about whether the strategies that propelled its growth in the past will continue to be effective in the evolving financial markets of the future.
