A senior partner at affiliates of Apollo Global Management has stepped down, the asset manager said on Tuesday.
Imran Siddiqui’s resignation will be effective 18 June, a filing with the US Securities and Exchange Commission shows. Siddiqui already stepped down from his board of director posts at two Apollo affiliates, Athene Holdings and AAA Guernsey. Those changes were effective Monday, according to a company statement.
On top of his board posts, Siddiqui has worked at Apollo’s private equity arm since 2008, according to the firm’s website. Previously, he served as a principal at Oak Hill Capital. Prior to that, he spent five years at Goldman Sachs and also worked as a consultant at McKinsey & Company.
AAA Guernsey, the managing general partner of Apollo’s AP Alternative Assets, expects to choose a replacement director in the near future, the statement indicates.
AP Alterative Assets provides credit facilities to fund short-term warehouse debt or non-recourse loans, according to its annual report. The net asset value of AP Alternative Assets as of 31 December 2016 was $3.1 billion.
Apollo owns a majority stake in the annuity firm Athene Holdings, according to its website. That stake totals a $3.3 billion investment, as of 31 January. The Athene holding falls under the AP Alternatives Assets portfolio.
Apollo Global Management started the limited partnership in June 2006. The global asset manager had $192 billion in assets under management as of 31 December across its private equity, credit and real estate fund strategies.