In this ION Influencers Fireside Chat, Veronique Fournier, Head of EMEA Wealth Solutions at Apollo, explored the rapid growth of the private wealth channel and how Apollo is innovating to expand access to private markets for individual investors. She emphasized the scale of the opportunity—an estimated $15 trillion EMEA wealth market with historically low allocations to alternatives—and explained why wealth investors are increasingly seeking diversification, alpha generation, and exposure to private markets.

Key Topics Discussed

1. Veronique Fournier’s Background and Role at Apollo

   • Head of EMEA Wealth Solutions.

   • 25+ years in asset management and distribution.

   • Focus on delivering Apollo’s private market solutions to wealth investors via intermediaries.

2. Apollo Overview

   • $800B+ in assets under management across private equity and private credit.

   • Unique business model combining asset management and insurance.

   • Strong alignment by investing alongside clients.

3. Private Wealth Market Opportunity

   • EMEA wealth market estimated at $15 trillion.

   • Historically low allocation (<3%) to private markets vs. 20%+ for institutions.

   • Drivers include volatility in public markets, concentration in indices, and difficulty generating alpha.

4. Education and Investor Behavior

   • Misconceptions about liquidity and risk in public vs. private markets.

   • Importance of educating wealth investors to shift allocations.

   • Use of tools like Apollo Academy for investor education.

5. Innovative Fund Structures

   • Evergreen funds to mitigate J-curve effect.

   • Multiple access points: closed-ended, semi-liquid, currency-specific options.

   • Democratizing access while maintaining risk discipline.

6. Talent and Distribution Strategy

   • 150+ dedicated professionals for the wealth channel.

   • Focus on partnership mindset and local presence.

   • Close collaboration with wealth managers, banks, and family offices.

7. Private vs. Public Market Exposure

   • Importance of alternative allocations to reflect real economy.

   • Transparency and infrastructure improvements needed for wealth investors.

   • Focus on “big river” asset classes (private credit, private equity) rather than niche investments.

8. Partnerships and Industry Trends

   • Collaboration between private market managers and traditional asset managers.

   • No one-size-fits-all; solutions tailored to intermediaries’ client needs.

   • Scalability balanced with bespoke solutions for end investors.

9. Future Goals and Outlook

   • Grow wealth AUM from $30B to $150B in five years.

   • Expand annual capital raise from wealth channel to $30B.

   • Continue innovation in fund structures, access, and investor experience.

Key timestamps:

00:07 Introduction to the Fireside Chats
02:19 Understanding Apollo’s Business Model
03:27 The Importance of the Private Wealth Channel
06:17 Shifting Perceptions of Public vs. Private Markets
09:46 Investor Behavior and Education
11:32 Future Transparency in Private Markets
12:26 Evolution of Access, Selection, and Structuring
15:11 Selecting the Right Managers in a Growing Market
17:39 The Role of Partnerships in Asset Management
20:04 Changing Dynamics in Wealth Management
21:53 The Role of Creativity in Financial Solutions
22:27 Innovation in Private Markets
23:51 Scalability in Wealth Management Solutions
24:52 Conclusion and Acknowledgments

Disclaimers

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