Abu Dhabi’s ADNOC, Apollo-led consortium enter into $5.5bn investment partnership

Abu Dhabi’s ADNOC, Apollo-led consortium enter into $5.5bn investment partnership

The Abu Dhabi National Oil Company (ADNOC) has entered into a $5.5bn real estate investment partnership with the accounts and entities owned and/or advised by Apollo Global Management and its subsidiaries (Apollo), it announced on September 2.

Apollo is one of the world's largest alternative investment managers. The strategic investment will capitalise on the rental income streams from select ADNOC real estate assets under a 24-year master lease agreement.

Meanwhile, the investment partnership will open new sources of global institutional long-term capital for ADNOC, while supporting investment in its core business and strategic growth projects.

Apollo led a consortium of institutional investors in the acquisition of a 49 per cent stake in Abu Dhabi Property Leasing Holding Company RSC Limited (ADPLHC), a wholly owned affiliate of ADNOC. The transaction included no