By Chibuike Oguh

(Reuters) – Apollo Global Management, (NYSE:) Inc Chief executive Marc Rowan indicated Tuesday that Russia’s invasion of Ukraine might temper interest rate rises from central banks. He also said that he believes inflation will slow down long-term.

Inflation has surged due to the turmoil in Ukraine and global financial markets. Rowan told Reuters Newsmaker that this might increase the already high level of inflation caused by supply chain disruptions. However, any ensuing economic slowdown may reduce inflation which will in turn lower interest rates.

To reduce inflation, the path should now be to increase rates. Rowan explained that Ukraine will bring about uncertainty.

Rowan stated that Apollo, one the largest investors in alternative assets like corporate credit and private capital, has no investment portfolio exposure to Russia and Ukraine. Rowan said that because the crisis had a variety of consequences across the market, Apollo was ready to capitalize on opportunities to provide liquidity to companies.

Rowan explained that New York-based Rowan is currently experiencing increased labor, shipping, and energy prices in its companies and anticipates this to increase in the second half of 2011. Rowan indicated that inflation will recede longer-term due to the diminishing effect of the two year economic stimulus, launched by governments all over the world after the COVID-19 pandemic.

Rowan explained that “the underlying factors which historically gave rise to rising rates simply don’t exists.”

Rowan stated that Apollo has approximately $500 billion of assets and Rowan expects it to increase sustainable investments via its platform. It unveiled the platform last week. If they were transitioning to cleaner forms of energy, Apollo could have financed fossil fuel firms, Rowan said.

Rowan succeeds Leon Black, who was made Apollo’s CEO last year after an independent review revealed that Epstein had spent $158 million on advice regarding tax and other related services. Black was cleared of all wrongdoing by the review.

Black, Apollo’s largest shareholder and Apollo co-founder Josh Harris who still sits on its board of directors, are both now “completely removed from the business”, Rowan explained, noting that they were no longer needed.

Rowan said, “This business is one I’m familiar with.” Rowan explained that Rowan and his colleagues joke about the fact that it’s not hard work, but it does require a lot.