Apollo Global Management Inc. said that Larry Berg, a senior partner with its private equity arm, is set to retire after three decades with the firm.
Berg, 56, has been with the New York-based alternative-investment company since 1992. He’s also chairman of McGraw-Hill Education Inc., is a director at Maxim Crane Works, Jacuzzi Brands and Vanta Education, and sits on the University of Phoenix’s board of trustees. Prior to joining Apollo, Berg was a member of the mergers and acquisitions group at Drexel Burnham Lambert Inc.
“Larry will retire as a partner later in 2022 after 30 years with Apollo,” a spokesperson for the firm said in an emailed statement. “He has been a terrific investor and colleague and we thank him for his many contributions to the firm.”
Berg received his master of business administration from the Harvard Business School and has a bachelor’s degree in economics from the University of Pennsylvania’s Wharton School of Business. He’s lead managing owner of the Los Angeles Football Club soccer team, which counts Ares Management Corp. co-founders Bennett Rosenthal and Mike Arougheti, Benchmark general partner Mitch Lasky, actor Will Ferrell and basketball legend Magic Johnson among its owners.