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He identified attractive investment opportunities and then deployed capital (largely provided by others) to generate positive returns on those investments.
"Our results again demonstrated the growth inherent in Apollo's business model as we actively raised and deployed capital around the world, and our diversified investment platform continued to generate cash distributions for our shareholders".
Large cap companies in the industry such as Haliburton have deployed capital overseas, where reserves are.
The firm did, however, launch a digital healthcare fund, which deployed capital to Fitbit, among others, years ago.
In his tenure as a general partner and angel investor, he deployed capital to nine "unicorns," including Lyft, Palantir, Square, Instacart and Zenefits.
The Vision Fund has deployed capital to both Compass and Opendoor in rounds that valued the companies at $4.4 billion and north of $2 billion, respectively.
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"You don't know how banks are deploying capital.
"I ask them what concerns you about the fiscal cliff or what keeps you from deploying capital.
One of its key objectives should be enabling pension funds to deploy capital in low carbon infrastructure.
Others are looking for a way to deploy capital that they can't deploy profitably in their own market," says Matthew Clark, of Keefe, Bruyette & Woods, an investment bank.
"But at the same time, while we're getting a lot of capital back from very good exits, our managers are deploying capital at very expensive valuations".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com