Apollo buys most of Nicholas Schorsch's holdings
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
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, which will manage real estate investment trusts (Reits) and other investments, according to a presentation on the firm's website.
Share with us your feedback on BT's products and services
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
