Apollo Global Management Inc. signed a deal to invest $1.4 billion in Aldar Properties PJSC, its latest commitment to Abu Dhabi after agreements in recent years that spanned the emirate’s state energy company and one of its wealth funds.
The tie-up with Apollo follows less than two years ago after the New York-based firm led a consortium that agreed to invest $2.7 billion in the real estate of Abu Dhabi’s oil company Adnoc. The alternative asset manager also has a strategic partnership with Abu Dhabi’s sovereign wealth fund Mubadala Investment Co.
Coming off its best quarterly inflows in more than a year, Apollo had $47.2 billion in cash available for investment at end-2021.
