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Apollo founder gives Wharton $50 million, school’s biggest gift

October 2, 2018

Marc Rowan, cofounder of Apollo Management Group, a private equity and real estate firm that counts Pennsylvania pension funds as clients, donated $50 million to the Wharton School fundraising program he co-heads on Oct. 2, 2018

By Staff

Marc J. Rowan, the double Wharton School graduate (BS ’84, MBA ’85) who cofounded $250 billion private equity and real estate investment group Apollo Global Management and chairs Wharton’s Board of Overseers, and his wife Carolyn have given his alma mater $50 million for professors and programs.

The school said Rowan’s gift is its largest since Wharton opened in 1881. Apollo, whose clients include the Pennsylvania state workers’ and public schoolteachers’ pension systems, was founded in 1990 by Leon Black, a former investment banker at Philadelphia-based Drexel Burnham Lambert, and a team including Rowan and fellow Wharton undergrad alumnus Josh Harris, now known as the lead owner of the NBA 76ers.

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