Apollo Global Management reinvented how pensions could be managed and paid out — by taking them over and moving the risks offshore. Other firms have followed suit and ushered hundreds of billions of dollars in American retirement savings into accounts that retirees and economists say are exposed to higher risk. 

On today’s Big Take podcast, host Sarah Holder sits down with Bloomberg reporters Alex Rajbhandari and Tom Schoenberg, who investigated this phenomenon and explain what it means for the people whose nest eggs ended up on private equity’s opaque balance sheets. 

Read more: 
The Offshoring of America’s Retirement Savings
When Wall Street’s Insurance Playbook Goes Wrong

Apollo Global Management reinvented how pensions could be managed and paid out &mdash; by taking them over and moving the risks offshore. Other firms have followed suit and ushered hundreds of billions of dollars in American retirement savings into accounts that retirees and economists say are exposed to higher risk.&nbsp;
On today&rsquo;s Big Take podcast, host Sarah Holder sits down with Bloomberg reporters Alex Rajbhandari and Tom Schoenberg, who investigated this phenomenon and explain what it means for the people whose nest eggs ended up on private equity&rsquo;s opaque balance sheets.&nbsp;
Read more:&nbsp;
<ul>
<li aria-level="1"><a href="https://www.bloomberg.com/graphics/2025-america-insurance-part-1/?srnd=homepage-americas">The Offshoring of America&rsquo;s Retirement Savings</a></li>
<li aria-level="1"><a href="https://www.bloomberg.com/features/2025-america-insurance-part-2/?srnd=undefined">When Wall Street&rsquo;s Insurance Playbook Goes Wrong</a></li>
</ul>

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

Big Take

How Private Equity Got Its Hands on Billions in Americans’ Retirement Money

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/7633af7c-fe5e-40c5-84de-b398016f1467/transcript

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