Apollo, a global management firm, has announced the launch of its corporate foundation with a commitment of more than $100 million over the next decade.

The Apollo Opportunity Foundation will be dedicated to investing in nonprofit organizations working to advance economic prosperity for underserved people. With a focus on groups championed by employees, the foundation will invest in organizations working to eliminate barriers for underrepresented individuals. The investments will focus on three main areas: educational access, workforce development, and economic empowerment. 

The foundation is expected to advance the work Apollo has underway to expand opportunity and increase the firm’s impact in its workplace, marketplace, and communities. In 2021, Apollo co-founded AltFinance to diversify the alternative investment industry and provide career opportunities for students attending historically Black colleges and universities (HBCUs). Through the company’s citizenship program, Apollo employees engage in a variety of programs that reach more than 1,500 nonprofit organizations on an annual basis, with more than 90 percent of the firm participating.

“We recognize that all of us at Apollo have benefited from opportunities provided to us, and we have a responsibility to expand opportunity to those around us who wouldn’t otherwise have access. It is core to our purpose, values, and ultimately, how we do business,” said Apollo CEO Marc Rowan. “Our Expanding Opportunity initiative has been about engaging our entire team across every level of Apollo and Athene in a way that is authentic and personal for all our people. We are partnering with organizations that can drive educational access, workforce development and economic empowerment. Through the foundation, we are excited to accelerate our mission and support positive change in the communities where we work and live.” 

(Photo Credit: Getty Images/SDI Productions)