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Frederick Khedouri

Advisory Board Member

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Frederick N. Khedouri retired In 2021 as a senior partner of Apollo Management, a global alternative asset management firm. He joined Apollo in 2008 based in London and was a partner, and chief investment officer and chairman of the investment committee of the European Principal Finance funds until July 2020. Under his investment leadership, the firm successfully raised and deployed €1.3 billion of equity for EPF I, €2.7 billion for EPF II, and €4.5 billion for EPF III. The EPF funds made over 75 investments during his tenure across a wide range of asset classes including residential and commercial non-performing mortgages; credit card and other consumer loan operating platforms and portfolios; office, commercial, multifamily, hotel, and logistics real property; and container shipping. Previously, Mr. Khedouri was a senior managing director at Bear Stearns, where he worked for 22 years. He had a variety of senior roles at Bear Stearns including serving as global head of a 60- person group providing investment banking advice to financial services companies including mergers and acquisitions advice and debt and equity underwriting to banks, insurance companies, and non-depository specialty lenders. Prior to his FIG role, he led the firm’s principal and underwriting business during the U.S. savings and loan crisis, which executed over $40 billion of transactions on behalf of the Resolution Trust Corporation and $4 billion of principal investments. In 2001, he raised and served as portfolio manager for a $350 million hedge fund specializing in mortgage credit investments that was 25% Bear Stearns capital and the balance from large institutional investors. In 2005, the firm’s executive committee asked him to assume leadership of its European mortgage business. He relocated to London in 2006 and oversaw mortgage businesses including multibillion UK and French origination platforms, securitization for clients across Europe, and principal investments in nonperforming loans. Throughout his career at Bear Stearns, he served as the senior investment banker to the U.S. governmentsponsored mortgage sector and maintained CEO and CFO relationships with management at Fannie Mae, Freddie Mac, and Ginnie Mae. Bear Stearns was the #1 ranked underwriter of mortgage securities and preferred stock for the GSEs during much of his tenure. From 1981 to 1985, he served in the White House as principal deputy in the Office of Management and Budget under President Reagan. From 1985 to 1987, he was deputy chief of staff and senior policy advisor to Vice President George H.W. Bush. After leaving the White House, President Reagan appointed him to a three-year term as a Director of the Securities Investor Protection Corporation, which insures the brokerage accounts of retail customers. He did his undergraduate studies at the University of Chicago and attended law school at the University of Texas at Austin and was admitted to the State Bar of Texas in 1976. He resides in Chilmark, Massachusetts.