Generation Hong Kong Announces Grant from Apollo Opportunity Foundation to invest in career education, workforce development and economic empowerment

HONG KONG SAR - Media OutReach Newswire - 29 May 2024 - Generation Hong Kong, an independent non-profit founded by McKinsey & Company that seeks to help people achieve economic mobility and a better life, today announced the receipt of a grant from the Apollo Opportunity Foundation (AOF).

AOF, which launched in 2022 with a $100 million commitment from Apollo Global Management, seeks to expand opportunity in communities around the globe by deploying capital and by engaging Apollo employees to invest in career education, workforce development and economic empowerment.

Funds from the grant will be used to accelerate career development and training programs for young professionals across the technology and innovation industries. The partnership also recognizes the success of Generation Hong Kong's "GrowHKTalent" agenda, which has had meaningful impact through training and job placement.

"Generation Hong Kong embodies our core pillars of career education, workplace development and economic empowerment," said Lauren Coape-Arnold, Global Head of Citizenship and Executive Director of the Foundation. "As we seek to drive enduring change within the communities in which we work and live, we are delighted to partner with Generation Hong Kong and support their important work."

Peter Nestor-Sherman from Apollo's Hong Kong office added, "We are excited to deepen our partnership with Brian Cheng, CEO of Generation Hong Kong, and his team. Providing important training and placement programs to job seekers aligns with Apollo's values of expanding opportunity and we look forward to collaborating with Generation Hong Kong as they support young adults making the move from education to employment."

The grant encompasses two vital elements that drive the collaborative effort forward. First and foremost is the establishment of a direct train-and-place program together with subsidized internship opportunities for first-time job seekers. The financial support, combined with strategic partnerships with local businesses and organizations, will enable more needful individuals to have a smooth transition from education into the tech industry. The second element is dedicated to Generation Hong Kong's alumni engagement. Through continuous support, mentorship, and resources devoted to this expanding network of close to 1,000 alumni, the grant enables Generation Hong Kong to nurture and empower the alumni to thrive in their professional careers, making a lasting impact on their lives and the community.

Dr. Jeremy Fox, Regional CEO of Generation Asia-Pacific said, "I would like to extend our heartfelt gratitude to the Apollo Opportunity Foundation for believing in our vision and selecting us as their inaugural grantee in Hong Kong. This partnership represents a significant milestone in our mission to support economic mobility and create pathways for the under-represented youth in our community. With the generous support of the Apollo Opportunity Foundation, we can now expand our efforts and amplify our impact, empowering even more young individuals to seize opportunities, thrive, and shape a brighter future. Together, we will forge a path of inclusive growth and foster a society where every young person has the chance to fulfill their potential."

"With Apollo Opportunity Foundation expanding their footprints to different parts of the world, we are truly honored to be the first grantee to partner with AOF in Hong Kong," said Brian Cheng, CEO of Generation Hong Kong. "The grant from AOF will allow us to deepen our efforts to empower underprivileged youth and our alumni, and address the challenges they face in their journeys from education to employment. We are grateful to AOF and everyone in the Apollo Hong Kong's office for their belief in our mission and their active engagement to drive positive change together."

Hashtag: #GenerationHongKong

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Generation Hong Kong

Generation is an independent non-profit founded in 2014 by McKinsey & Company that transforms education to employment systems to prepare, place and support people into life-changing careers that would otherwise be inaccessible. In 2018, Generation Hong Kong was formally established to bring Generation's proven approach to addressing employment challenges to Hong Kong. Generation Hong Kong has been supporting 3 groups of underserved population in 6 professions, and has supported close to 1,000 needful population to-date. Globally more than 115,000 people have graduated from Generation's programs in 17 countries.

Apollo Opportunity Foundation

Launched in 2022, the Apollo Opportunity Foundation (AOF) builds on Apollo Global Management's commitment to expanding opportunity across its workplace, marketplace and the communities where it operates. AOF was launched with $100 million to invest in non-profit organizations working to advance economic prosperity across three key pillars: Career Education, Workforce Development, and Economic Empowerment. Leading with an employee-driven approach, AOF partners with organizations that are championed by Apollo employees to expand opportunity for all.

Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2023, Apollo had approximately $651 billion of assets under management. To learn more, please visit www.apollo.com.