Apollo's Strategic Reorientation in Japan: Leadership Changes Signal Long-Term Investment Opportunities in Asia's Recovering Asset Markets

Apollo Global Management’s recent leadership changes in Japan underscore a strategic reorientation toward capitalizing on long-term investment opportunities in Asia’s recovering asset markets. By appointing seasoned executives like Shimpei Kanzaki as Managing Director and Head of Japan Global Wealth, Apollo is positioning itself to leverage Japan’s evolving financial landscape and broader regional trends. Kanzaki, with over two decades of experience in private markets and wealth management, joins a leadership team that includes Jim Zelter, newly appointed President overseeing asset management and retirement services, and Edward Moon, regional head of Asia Pacific Global Wealth. Together, they aim to expand Apollo’s product offerings, deepen partnerships with Japanese distributors, and double staffing in its Tokyo office over the next two years [1].

Japan’s market is undergoing a structural shift as it transitions from three decades of zero-rate financing to a more market-driven capital allocation system. This shift is creating demand for private credit, buyouts, and specialized financing solutions, particularly as Japanese companies seek alternatives to traditional bank lending amid rising inflation and trade policy uncertainties [2]. Apollo is capitalizing on this by offering long-term financing for infrastructure and growth projects, where the mismatch between the duration of bank loans and business needs is acute [3]. For instance, the firm’s hybrid equity strategies are tailored to support Japanese businesses requiring flexible capital solutions, while its partnerships with institutions like Sumitomo Trust and Nomura are helping to address the needs of an aging population seeking stable, low-risk returns [4].

The Asia-Pacific private equity market itself is showing signs of recovery. In 2024, deal value increased by 11%, driven by improved investor sentiment and a focus on value creation through expanded portfolio management teams. While China’s influence on the region’s deal value has declined to 27%, Japan and India have emerged as key growth markets. Apollo’s emphasis on Japan aligns with this trend, as the country’s $7.4 trillion in household savings—set to transfer to the next generation—presents a unique opportunity for private market products tailored to high-net-worth individuals [5]. The firm’s goal to grow its Asia-Pacific wealth business from $30 billion to $150 billion by 2029 reflects confidence in this demographic and economic shift [6].

Apollo’s strategies are further validated by its commitment to third-party valuations for private assets, a practice that enhances transparency and aligns with industry trends. Matthew Michelini, Head of Asia-Pacific, has emphasized the importance of independent valuation services and external auditors in ensuring the reliability of private asset pricing, particularly for credit products [7]. This approach not only addresses regulatory and investor concerns but also reinforces Apollo’s credibility in a market where trust and consistency are critical.

The firm’s expansion into Japan is part of a broader regional push. Apollo has already deployed $2.5 billion in Asia-Pacific in 2022 and raised $35 billion in the region from 2022 to 2024, with a significant portion coming from Japan [8]. By targeting markets like South Korea and Australia, Apollo is diversifying its footprint and capitalizing on trade uncertainties that are redirecting investment flows away from the U.S. and toward Asia. Its semi-liquid products, including alternative credit and real estate strategies, are designed to make private markets more accessible to both institutional and retail investors, further broadening its appeal [9].

In conclusion, Apollo’s leadership changes in Japan are not merely organizational adjustments but strategic moves to position the firm at the forefront of Asia’s recovering asset markets. By aligning with Japan’s structural reforms, demographic shifts, and regional investment trends, Apollo is well-placed to capture long-term growth opportunities. As the Asia-Pacific private equity market becomes more resilient and LPs prioritize distributions, Apollo’s integrated approach—combining asset management, retirement services, and innovative capital solutions—positions it to meet evolving investor needs while driving sustainable returns.

Source:
[1] Apollo Names Shimpei Kanzaki as Japan Global Wealth Head [https://www.apollo.com/insights-news/pressreleases/2025/03/apollo-names-shimpei-kanzaki-as-japan-global-wealth-head-3035203]
[2] Apollo Sees Japan as Private Markets Gateway to Asia [https://www.privatemarketsinsights.com/post/apollo-sees-japan-as-private-markets-gateway-to-asia]
[3] Apollo to Tap Rich, Retail Clients in Asia for Asset Growth [https://www.bloomberg.com/news/articles/2025-06-11/apollo-says-trade-concern-is-a-positive-for-asia-private-credit]
[4] Q&A: Apollo Global Management on Japan Buyouts [https://ionanalytics.com/insights/mergermarket/qa-apollo-global-management-on-japan-buyouts-what-hybrid-equity-looks-like-in-asia-and-filling-the-regions-credit-gap]
[5] Asia-Pacific Private Equity Report 2025 [https://www.bain.com/insights/asia-pacific-private-equity-report-2025/]
[6] Apollo Bets on APAC as "High Priority" in Global Wealth Push [https://asianprivatebanker.com/funds/apollo-bets-on-apac-as-high-priority-in-global-wealth-push/]
[7] Apollo Urges ASIC to Clarify Private Asset Valuation Standards [https://www.superreview.com.au/news/superannuation/apollo-urges-asic-clarify-private-asset-valuation-standards]
[8] Apollo Off to the Races in 2025 With Over USD $2.4B of Equity Deals [https://www.apollo.com/insights-news/insights/2025/07/apollo-off-to-the-races-in-2025-with-over-usd-2-4b-of-equity-deals]
[9] Apollo Reaches for Everyday Investors With "New Markets" Group [https://www.ainvest.com/news/apollo-reaches-everyday-investors-markets-group-2504-53/]