Key Takeaways
- • Apollo Opportunity Foundation is supporting 28 nonprofit organizations by applying the operating playbook the firm uses with its more than 190 portfolio companies, according to Business Insider.
- • The foundation has provided over $13 million to grantees and has committed $100 million in funding over the next decade.
- • Each grantee is paired with a deal team of five to 10 employees from Apollo or Athene, who provide pro-bono projects, board sourcing, and strategic advice.
- • Support covers operational guidance, data and digital transformation, talent management, and recruitment, with funding tied to budget size and impact metrics.
- • Co-president Scott Kleinman describes the deal team as the "real value add" and says the model is meant to be a "two-way street" rather than check-writing with photo opportunities.
Summary
Apollo Asset Management is extending its private-equity operating model to the nonprofit sector through the Apollo Opportunity Foundation, which launched in 2022. According to Business Insider, the foundation currently supports 28 organizations with access to experts, leadership training, and a built-in network, alongside grant funding. Apollo has provided more than $13 million to grantees to date and has committed $100 million over the next decade. Funding decisions take into account factors such as the organization's budget size and impact metrics.
Co-president Scott Kleinman, who chairs the foundation's board, said the foundation provides the same types of support Apollo gives its portfolio companies, including operational guidance, data and digital transformation, talent management, and recruitment. Kleinman acknowledged that capital is central to the model but emphasized that the deal teams are the primary value driver. Each nonprofit is matched with a team of five to 10 employees from Apollo or Athene, the retirement services business that merged with Apollo. These teams build relationships with grantees, perform pro-bono work, source board candidates, and advise on strategy. The foundation also runs monthly virtual training sessions covering AI, leadership transitions, culture, real estate, fundraising, and succession planning.
At the foundation's biennial summit in October, which Business Insider attended, Apollo chief economist Torsten Sløk discussed the labor market and how organizations can adapt, and the firm's chief financial officer addressed growth considerations for nonprofits. Lauren Coape-Arnold, Apollo Global Management's global head of citizenship and executive director of the foundation, said partnerships often begin with board reorganization to strengthen governance, since organizational success depends on leadership quality.
Grantees described concrete outcomes. Jane Veron, cofounder and CEO of Acceleration Project, a nonprofit serving small business owners, said Apollo helped identify 35 processes that could be eliminated or modified, and the organization is now building an AI tool to review client business-challenge notes and developing asynchronous training for consultant onboarding. Reuben Ogbonna II, cofounder and executive director of The Marcy Lab School, a one-year alternative to four-year college, said Apollo's deal team helped revamp the curriculum to better connect technologists with business context, adding cloud fundamentals and DevOps content.
Co-president Scott Kleinman, who chairs the foundation's board, said the foundation provides the same types of support Apollo gives its portfolio companies, including operational guidance, data and digital transformation, talent management, and recruitment. Kleinman acknowledged that capital is central to the model but emphasized that the deal teams are the primary value driver. Each nonprofit is matched with a team of five to 10 employees from Apollo or Athene, the retirement services business that merged with Apollo. These teams build relationships with grantees, perform pro-bono work, source board candidates, and advise on strategy. The foundation also runs monthly virtual training sessions covering AI, leadership transitions, culture, real estate, fundraising, and succession planning.
At the foundation's biennial summit in October, which Business Insider attended, Apollo chief economist Torsten Sløk discussed the labor market and how organizations can adapt, and the firm's chief financial officer addressed growth considerations for nonprofits. Lauren Coape-Arnold, Apollo Global Management's global head of citizenship and executive director of the foundation, said partnerships often begin with board reorganization to strengthen governance, since organizational success depends on leadership quality.
Grantees described concrete outcomes. Jane Veron, cofounder and CEO of Acceleration Project, a nonprofit serving small business owners, said Apollo helped identify 35 processes that could be eliminated or modified, and the organization is now building an AI tool to review client business-challenge notes and developing asynchronous training for consultant onboarding. Reuben Ogbonna II, cofounder and executive director of The Marcy Lab School, a one-year alternative to four-year college, said Apollo's deal team helped revamp the curriculum to better connect technologists with business context, adding cloud fundamentals and DevOps content.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.