RIYADH: US asset manager Apollo has acquired a $400 million minority stake in UAE-based Aldar Investment Properties, a subsidiary of Abu Dhabi- listed Aldar Properties PJSC.
The acquisition is part of the previously announced $1.4 billion investment by Apollo into Aldar’s transformational growth initiatives, Aldar said in a statement.
“Apollo is a highly respected global investor, and this commitment displays strong belief in Aldar’s transformational growth agenda and reinforces the reputation of the UAE and Abu Dhabi, which are experiencing a trend of increasing capital inflows from long-term institutional investors,” CEO of Aldar Properties, Talal Al Dhiyebi, said.
