Marc Rowan is one of the cofounders of Apollo Global Management, a private equity firm founded in 1990 which recently posted assets of around $163 billion. We've written before about the philanthropy of other Apollo Global Management cofounders in the past, including Leon Black and Antony Ressler. Well, the 53-year old Rowan also has been engaged in philanthropy and founded the Rowan Family Foundation in 2005. Rowan directs the charity with his wife Carolyn. Michael Gross, a founding partner of Apollo, is also listed as a director of the foundation.
Unfortunately, the Rowan Family Foundation doesn't have much of a web presence or a clear way to get in touch. However, Rowan's philanthropy appears to be on rising sharply, with close to $9 million going out of the door in 2013, up from only around $1.6 million in 2010. Here are a few must-knows:
1. Rowan Has Heavily Support His Alma Mater, University of Pennsylvania
In 2012, Rowan, along with fellow Wharton alums Marc A. Spilker (who once was president of Apollo Global) and his wife Diane Spilker, gave $11 million to establish the Wharton Public Policy Initiative, whose goal is to "leverage the University’s resources to foster better-informed policymaking on issues related to business and the economy." In 2013, the Rowan Foundation made several grants to the Trustees of University of Pennsylvania, totaling about $4.4 million.
2. Other Education Causes Have Been Supported
Funds have also gone to Say Yes to Education, "a nonprofit that seeks to improve inner-city education," Regents of the University of Michigan, Columbia Prep, Riverdale Country School, Harlem Village Academies, and the Public Education Foundation, among others. A component of this philanthropy involves STEM education outfits, such as Girls Who Code, and NYC Foundation for Computer Science Education.
3. Large Sums Have Gone to Jewish Causes
Rowan was born into a Jewish family and is on the board of Youth Renewal Fund, which was founded to improve education for Israeli children. Other support has gone to Hebrew Charter School, American Friends of LIBI, which supports the Israel Defense Forces, Congregation Rodeph Sholom, and more. In 2013, a $1 million gift went to Western Wall Heritage Foundation, which physically maintains and provides education about the Western Wall in Jerusalem.
Other grantmaking has involved health outfits such as Mt. Sinai and the Crohn's & Colitis Foundation of America. Funds have also gone toward general support of the New York City community, including groups like New York City Police Foundation, Randall's Island Park Alliance and FDNY Foundation. Modest support has gone to Robin Hood Foundation, the New York City antipoverty outfit that a number of wall streeters have funded.
Related: Marc J. Rowan Profile