Apollo buys most of Nicholas Schorsch's holdings
New York
APOLLO Global Management LLC, the alternative-asset manager run by Leon Black, is buying the bulk of embattled real estate investor Nicholas Schorsch's holdings.
Apollo will take a 60 per cent in a new company called AR Global Investments, which will absorb about US$19 billion now overseen by Mr Schorsch, the New York-based firm said on Thursday in a statement. Apollo will pay US$200 million in cash and US$178 million in stock for the stake in AR…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
US 30-year mortgage rate rises to five-month high of 7.24%
Money laundering accused Su Baolin’s Sentosa property goes unsold at auction
US Judge approves US$418 million settlement that will change real estate commissions
In San Francisco, a home renovation can become a battle royale
Country Garden extends bonds to avoid first local default
Daughter of Chinese steel-and-nickel tycoon picks up S$84 million Bin Tong Park bungalow