APO - Apollo to Provide €1 Billion Capital Solution to Vonovia in Second Transaction | Benzinga
NEW YORK, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Apollo (NYSE:APO) today announced that it has entered into agreements for Apollo-managed insurance affiliates, funds and other long-term investors to invest €1 billion into an entity owning a portfolio of high-quality real estate assets in Northern Germany controlled by Vonovia, a leading global residential real estate company with assets of approximately $100 billion. This commitment follows a €1 billion investment by Apollo funds in a Vonovia portfolio in Southwest Germany earlier this year.
Apollo Partner Jamshid Ehsani said, "We are pleased to broaden our partnership and provide another scaled capital solution to Vonovia by investing in a portfolio of high-quality, high-demand residential real estate assets creating attractive investment opportunities for our insurance platforms, funds and clients. This cost effective solution supports the capital plan of one of Europe's leading real estate companies and demonstrates once more how Apollo is increasingly acting as a leading capital solutions provider to large global corporations active in many industry sectors, including Real ...