Investing
Apollo Weighs Divisive Asset-Shifting Move for Homebuilder Bet
- Firm said to mull shifting New Home Co. stake bought in 2021
- Apollo gauged investors about continuation vehicle: sources
The Apollo Global Management LLC office in New York.
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
Apollo Global Management Inc. is in talks to shift an investment in a single-family homebuilder from one of its private equity funds into a new vehicle to buy time.
The alternative asset manager took New Home Co. private in 2021, in a roughly $300 million deal that showcased the growing reach of private equity in the real estate market. The Irvine, California-based company builds homes in Arizona, California, Colorado, Oregon and Texas.