Apollo's Senior Dealmaker Exits After $2.1B Deal and 15-Year Run

Apollo has lost Michele Raba, its longtime lead for European private equity, after a 15-year run. Raba built a notable deal resume and exited just months after Apollo closed out two big wins, including the €1.8 billion sale of OLB to France's Crédit Mutuel. Alex van Hoek, a veteran Apollo partner, will take Raba's place. Apollo's tenth private equity fund has a 23% net IRR and the firm has been on a roll, completing deals like the $6.3 billion acquisition of IGT's gaming division. The franchise looks ready for its next phase.

Apollo Global Management Inc. has announced the departure of Michele Raba, its lead partner for European private equity, after a 15-year tenure. Raba, who joined Apollo in 2010, played a significant role in several notable deals, including Germany’s Oldenburgische Landesbank, Gamenet, Lottomatica, Ingenico, and The Travel Corporation Apollo’s Lead European PE Partner Raba to Depart After 15 Years^[1].

The alternative asset manager confirmed Raba’s departure in response to Bloomberg queries. Apollo is naming Alex van Hoek, a longtime partner based in London, as its new lead partner for European private equity. In a statement, Apollo expressed gratitude towards Raba for his contributions and wished him well in his future endeavors Apollo’s Lead European PE Partner Raba to Depart After 15 Years^[1].

Raba’s departure comes just months after Apollo closed out two significant deals. In June, the firm exited its last stake in Italian gambling firm Lottomatica. Additionally, in March, Apollo agreed to sell Oldenburgische Landesbank (OLB) to France’s Crédit Mutuel Alliance Fédérale in a deal valuing OLB at over €1.8 billion ($2.1 billion), allowing Apollo to make about 3.5 times its money Apollo’s Lead European PE Partner Raba to Depart After 15 Years^[1].

Apollo’s private equity franchise is led globally by David Sambur and Matt Nord. The firm’s tenth flagship buyout fund had a net internal rate of return (IRR) of 23% as of the quarter ended June 30 Apollo’s Lead European PE Partner Raba to Depart After 15 Years^[1]. Apollo has been on a roll, completing deals such as the $6.3 billion acquisition of tech solutions provider Trace3 from American Securities and the $6.3 billion acquisition of International Game Technology Plc’s gaming division and gambling machines company Everi Holdings Inc. Apollo’s Lead European PE Partner Raba to Depart After 15 Years^[1].

Alex van Hoek, the new lead partner for European private equity, is a veteran Apollo partner based in London. His appointment signals Apollo’s readiness to enter the next phase of its European private equity strategy Apollo’s Lead European PE Partner Raba to Depart After 15 Years^[1].

References:
Apollo’s Lead European PE Partner Raba to Depart After 15 Years^[1] https://www.bloomberg.com/news/articles/2025-09-08/apollo-s-lead-european-pe-partner-raba-to-depart-after-15-years