Last year, Apollo Global Management delivered an impressive 18.3% return for its individual investors. This performance stems from the firm's strategy of investing in individual companies, often those that private equity firms plan to hold long-term or find difficult to sell. This approach, however, is viewed by some as carrying a higher degree of risk.

Apollo's focus on longer-term investments sets it apart from strategies emphasizing quicker exits. This is a crucial distinction for investors. The firm's success in this area could draw more retail investors into private equity, a traditionally institutional domain. Increased retail participation could further fuel the market for PE-backed assets.

The high returns are welcome news for retail clients seeking alternatives to traditional investments. However, the inherent risks of these types of investments, including illiquidity and the potential for losses, remain. Investors should carefully consider their risk tolerance before allocating capital to this space.

Looking ahead, the performance of these longer-term holdings will be critical. Further performance data will provide more insight into the sustainability of this strategy. Also, the overall market environment, including interest rates and economic growth, will influence Apollo's future results.