PESP statement on consideration of Apollo’s Marc Rowan for Treasury Secretary

The Private Equity Stakeholder Project (PESP) opposes the potential appointment of Apollo Global Management CEO Marc Rowan as Secretary of the Treasury, highlighting the conflict of interest given the role's oversight of the private equity industry. PESP points to Apollo's ownership of approximately 220 hospitals across 36 states, noting that these systems are highly indebted and have faced regulatory scrutiny and poor quality rankings. The statement also criticizes Apollo's labor record, noting it received a D grade on the 2023 Private Equity Labor Scorecard due to a high number of portfolio company bankruptcies and unfair labor practice violations, specifically mentioning Cardenas Markets.

• Marc Rowan's potential appointment as Treasury Secretary is viewed as a risk due to the position's oversight of the private equity industry and the existing scrutiny of Apollo Global Management's investments in retail and healthcare.
• Apollo Global Management owns approximately 220 hospitals across 36 states via Lifepoint Health and ScionHealth; these entities are described as highly indebted and subject to high credit risk, with some receiving poor quality rankings.
• Apollo's healthcare acquisitions have faced regulatory and legislative scrutiny, including a bipartisan Senate Budget Committee investigation into its ownership of Lifepoint and questions regarding the use of a spinoff transaction to avoid antitrust scrutiny during the acquisition of Kindred Healthcare.
• Apollo received a D grade on the 2023 Private Equity Labor Scorecard, the only firm to do so, attributed to having the highest number of portfolio company bankruptcies among scored firms (eleven over the last decade) and a high number of settled unfair labor practice violations.

APA

Private Equity Stakeholder Project (2024). PESP statement on consideration of Apollo’s Marc Rowan for Treasury Secretary. https://pestakeholder.org/news/pesp-statement-on-consideration-of-apollos-marc-rowan-for-treasury-secretary/

Chicago

Private Equity Stakeholder Project. PESP statement on consideration of Apollo’s Marc Rowan for Treasury Secretary. 2024. https://pestakeholder.org/news/pesp-statement-on-consideration-of-apollos-marc-rowan-for-treasury-secretary/.

Wikipedia

{{cite press release |author=Private Equity Stakeholder Project |title=PESP statement on consideration of Apollo’s Marc Rowan for Treasury Secretary |date=22 November 2024 |url=https://pestakeholder.org/news/pesp-statement-on-consideration-of-apollos-marc-rowan-for-treasury-secretary/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{privateequitystakeholderproject2024pesp, author = {{Private Equity Stakeholder Project}}, title = {{PESP statement on consideration of Apollo’s Marc Rowan for Treasury Secretary}}, publisher = {Private Equity Stakeholder Project}, year = {2024}, month = nov, url = {https://pestakeholder.org/news/pesp-statement-on-consideration-of-apollos-marc-rowan-for-treasury-secretary/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }