Apollo steps up UK DC push with senior hire

Apollo Global Management has appointed Jesal Mistry (pictured) as managing director and UK defined contribution (DC) lead.

The $908bn (£674bn) alternatives manager said Mistry will drive the growth of Apollo’s business in the UK and Europe, expanding its investment capabilities and access to its product suite for the UK DC market, including trustees, consultants and platform providers.

Mistry joins Apollo from Legal & General, where he was head of DC investment and helped launch the firm’s private markets offering.

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Apollo’s push into the UK DC market comes as increasing amounts of pension capital flow into private credit, driven by initiatives such as the Mansion House Accord. The agreement aims to encourage pension providers to allocate at least 10 per cent of default fund assets to private markets.

Mistry will be based in London and will sit within the DC team in Apollo’s New Markets business, which is led by partners and co-heads Neil Mehta and Jon Godsall.

Apollo’s New Markets division focuses on solutions across four core areas representing a market of more than $60tn: traditional asset management, including exchange-traded funds and mutual funds; defined contribution; tax-advantaged strategies; and digital platforms.

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