Leon Black, Chairman and CEO of Apollo Global Management

Leon Black discusses co-founding Apollo three decades ago and how he helped build it into one of the world’s leading investment firms. He also spoke about his views on the future of the global private equity industry.

On the future of the private equity industry: “I am a big believer in the private equity model. I think that if you look at the track record of the industry, whether it's three years, five years, 10 years, it’s produced the best returns—more so than real estate, even [than] venture. And I think given the underfunding of a lot of the pension industry, this is really important. This is what’s helping teachers, firemen, policemen, government workers. I’m very proud of what we do in private equity.”

On how sustainability is shaping investments: “I think there’s a watershed event that has occurred in the last few years and that’s concern about climate, and it’s a reality. I think it’s proven as to there being real jeopardy out there. Most of us have children and what is the next generation going to be faced with?... So, I think a lot of investing in public pension funds is really changing materially for the good and we have to change with it and be a help in the problem solving both by example and then hopefully with new products.... So, it’s something very important to us.”