Michael Gross - The Case for Complexity

Today Joe is joined by Michael Gross, CEO and President of SLR Investment Corporation, who was present at the birth of Apollo. Michael co-founded SLR alongside Bruce Spohler in 2006, and the firm now manages roughly $14 billion across cashflow lending, asset-based lending, life science lending, and specialty finance. Before SLR, Michael was a founding partner of Apollo Global Management, where he launched Apollo's first BDC and helped build its credit platform from the ground up. He got his start at Drexel Burnham Lambert in 1987, working under Leon Black in the M&A department. Michael expects rising defaults in private credit as 2021-vintage loans, underwritten with weak covenants and high leverage, come up to maturity. We also discuss the early days of Apollo, raising the first significant BDC in 2004 which launched the massive growth in the industry, and how SLR seeks complexity as a competitive edge.

Michael Gross is the Co-Chief Executive Officer and President of the SLR, bringing more than 30 years of experience in private equity, distressed debt, and mezzanine lending. A founder and former senior partner of Apollo Management, he played a key role in building one of the industry's leading private equity firms and helped oversee investments totaling more than $13 billion across 150 companies. Earlier in his career, he worked in mergers and acquisitions at Drexel Burnham Lambert. He holds degrees from the University of Michigan and Northwestern University's Kellogg School of Management.

Throughout his adult life to present day, Michael has been a vigorous philanthropist. He currently serves as co-chair of the Mount Sinai Children's Center Foundation, and has served on the Board of Directors of New York Road Runners for over a decade, playing a vital role in the creation of the first youth running events. Michael also serves on the University of Michigan Ross School Advisory Board, and the Northwestern University Kellogg Global Advisory Board. In 2019 Michael was an honoree at the NYRR Night of Champions, receiving the Civic Champion award.

Please enjoy my conversation with Michael Gross.

SLR Investment Corporation: https://slrinvestmentcorp.com

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Joe Reilly is the head of Circulus Group, a family office network, and the host of The Inheritance Podcast.

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