Sumitomo Mitsui Trust Holdings will invest $1.5bn in funds managed by Apollo Global Management in a partnership ranging from private equity and real estate to infrastructure.
The partnership with Japan’s largest trust bank could allow Apollo to expand its relatively small presence, compared to peers such as KKR & Co Inc and Bain Capital.
Sumitomo Mitsui Trust will invest the funds in a $10-billion proprietary portfolio from the Apollo group, as part of total third-party capital of more than $5 billion from Asian institutional investors to be added to the Apollo portfolio.
Read more: Channel News
