Jim Cramer Discussed 18 Companies That Hit $100 Billion in Market Cap in 2024

7. Apollo Global Management, Inc. (NYSE:APO)

Number of Hedge Fund Holders: 82

Cramer commended Apollo Global Management, Inc. (NYSE:APO) stock’s performance in 2024, saying:

“Next is Apollo Global, a private equity firm that had rallied 93% for the year, joining the hundred billion dollar club as of Friday’s close… That’s outstanding performance from two firms that truly know how to make money. It’s odd to think that they could have such good years without ringing the register by taking their portfolio companies public. Maybe holding onto positions isn’t such a bad move… These two private equity firms are part of a trend that allows startups to stay private longer internally because the process of coming public is brutal with a lot of pressure from regulators and then from money managers. Well, I mean, this is a great way to go. Formerly, these companies had to tap the public market for capital. Now they tap outfits like KKR and Apollo.”

Apollo Global (NYSE:APO) is a private equity firm that invests in various markets, including credit, private equity, infrastructure, real estate, and secondaries. The firm focuses on a wide range of investment strategies across multiple sectors. CEO Marc Rowan is optimistic about the opportunities for private market investing with the anticipated changes in the White House administration.

On December 11, he noted that despite a challenging political environment during the Biden administration, the firm has prospered and expects positive changes for private markets. Rowan sees significant potential in leveraging private assets, particularly with investment-grade leverage, and believes that hybrid investments offer the best risk-reward.

He also sees opportunities for banks as the regulatory environment shifts and mentioned that Apollo Global (NYSE:APO) is exploring partnerships with them. Additionally, he highlighted the need for litigation relief to allow private assets to be added to retirement funds like 401(k)s.