Apollo European Principal Finance Completes Real Estate Portfolio Acquisition from ENPAM

Rhea-AI Summary

Apollo (NYSE: APO) has successfully completed the acquisition of a real estate portfolio valued at €842 million from the Italian pension fund ENPAM. The portfolio includes 68 premium commercial and residential properties, notably in Rome and Milan, featuring hotels, retail spaces, logistics, and parking facilities. Apollo's European Principal Finance business, which oversees $8.6 billion in assets, aims to leverage this acquisition to enhance its real estate investment strategy. Advisors involved in the transaction included Realty Partners, Lazard, and several legal and financial firms.

Positive

• Acquisition of a diversified portfolio of 68 high-quality assets enhancing market presence.
• Transaction value of €842 million indicates strong investment commitment.
• Strategic focus on economic hubs like Rome and Milan expected to drive future returns.

Negative

• None.

NEW YORK, March 24, 2022 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that European Principal Finance funds managed by its affiliates have completed its previously announced acquisition of a portfolio of real estate assets (the “Portfolio”) for €842 million from the Italian pension fund Fondazione Ente Nazionale di Previdenza ed Assistenza dei Medici e degli Odontoiatri (“ENPAM”). The portfolio is comprised of 68 high-quality commercial and residential assets, including hotel, retail, logistics and parking assets primarily located in the economic hubs of Rome and Milan.

European Principal Finance business is the second largest, closed-end fund franchise at Apollo, with $8.6 billion in assets under management as of year-end 2021. The EPF business launched in 2009 and was created to capture a broad variety of opportunities across the real estate credit and equity risk spectrum.  

Advisors to the Apollo EPF funds in this transaction included Realty Partners, with the support of JLL and Conio, as commercial advisors; Lazard as financial advisor; Belvedere Inzaghi as legal diligence advisor; Yard Reaas as a technical advisor; BonelliErede and Sidley Austin as transaction counsel; BonelliErede for tax advisory; and Allen & Overy as the legal advisor for financing.

About Apollo
Apollo is a global, high-growth alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2021, Apollo had approximately $498 billion of assets under management. To learn more, please visit www.apollo.com.

Contact Information:
For Investors:
Noah Gunn
Global Head of Investor Relations
(212) 822-0540
IR@apollo.com

For Media:
Joanna Rose
Global Head of Corporate Communications
(212) 822-0491
Communications@apollo.com

FAQ

What assets did Apollo acquire in the recent transaction?

Apollo acquired a portfolio of 68 commercial and residential assets, including hotels, retail, logistics, and parking properties.

What is the value of the portfolio acquired by Apollo?

The portfolio was acquired for €842 million.

How does this acquisition impact Apollo's presence in Europe?

This acquisition enhances Apollo's footprint in key European economic hubs, primarily in Rome and Milan.

Who advised Apollo on the acquisition of the portfolio?

Advisors included Realty Partners, Lazard, and various legal and technical advisors.