Finance
Apollo Touts Europe Property Debt to Rich Investors
Apollo has become one of the largest alternative providers of European real estate credit, lending almost $5 billion last year.
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
Apollo Global Management Inc. has launched its first real estate credit fund for rich European investors as the alternative asset management giant chases its target of managing $150 billion of private wealth.
The Apollo European Real Estate Debt fund will invest in mostly senior loans to low-risk buildings alongside other vehicles managed by the firm, according to a statement Wednesday. The fund has been seeded with €160 million ($170 million) from an Apollo retirement insurance affiliate and has been structured as a semi-liquid perpetual vehicle that has no fixed term, it said.