Apollo announced that Apollo-managed funds have invested $1B in subordinated hybrid notes issued by Aldar Properties PJSC, a UAE based real estate developer and investment manager. The investment builds on Apollo’s long-term partnership with Aldar and represents Apollo’s fifth investment in Aldar since 2022, bringing aggregate commitments to $2.9B to date. Proceeds from the investment are intended to support Aldar’s balance sheet flexibility and strength, as well as its growth agenda, which includes landbank replenishment, expansion of its develop-to-hold portfolio, and strategic acquisitions.
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