The Abu Dhabi National Oil Co. (ADNOC) has entered into a long-term strategic investment with accounts and entities owned and/or advised by Apollo Global Management and its subsidiaries for an underlying real estate portfolio valued at $5.5 billion. The strategic investment will leverage the rental income streams from select ADNOC real estate assets under a 24-year master-lease agreement. The investment will unlock new pools of global institutional long-term capital for ADNOC, while supporting investment in its core business and strategic growth projects.
The total stake the Apollo led a consortium of institutional investors acquired was 49 percent in Abu Dhabi Property Leasing Holding Co. (ADPLHC). ADNOC will retain a 51 percent majority stake, maintaining full ownership and control over the select real estate and social infrastructure assets and responsibility for all operations and maintenance. ADPLHC holds the long-term leasehold interests underpinned by the sizable, div
