Apollo acquires US$ 400mln strategic equity stake in Aldar Investment Properties

Apollo acquires US$ 400mln strategic equity stake in Aldar Investment Properties

- Apollo, through its managed investment vehicles, acquires an 11.1% minority stake in Aldar Investment Properties, a subsidiary of Aldar Properties PJSC and the region’s largest institutional-class real estate platform

- Equity stake forms part of the US$ 1.4 billion transaction between Aldar Properties and Apollo announced in February 2022

Abu Dhabi, UAE: Apollo (NYSE: APO), through its managed investment vehicles, has acquired an 11.1% minority stake in Aldar Investment Properties (“AIP”), a subsidiary of Abu Dhabi-listed Aldar Properties PJSC (“Aldar”) and the region’s largest institutional-class real estate platform, following completion of a US$ 400 million transaction. The acquisition is part of the previously announced US$ 1.4 billion investment by Apollo into Aldar’s transformational growth initiatives.

The transaction involved the issuance of US$ 400 million of common equity and mandatory convertible preferred equity at 100% of NAV into AIP, which houses Aldar’s core asset management business comprising over AED 23 billion (US$ 6.3 billion) of prime real estate assets across retail, residential, commercial, and logistics segments. The diversified portfolio has proven highly resilient through business cycles, with occupancy standing at 92% as of June 30, 2022.

By providing significant financial backing, the transaction is a catalyst for AIP to significantly scale up its real