Apollo launches second Asian real estate fund

Apollo Global Management has opened its second Asia-focused real estate fund to investors, a recent SEC filing shows.

The vehicle, known as Apollo Asia Real Estate Fund II, has a fundraising target of $1 billion, says a source familiar with the matter. The fund’s investment strategy is consistent with Fund I and invests across the capital structure, with a focus on structured solutions, mispriced credit and distressed properties.

The first fund in the series invested in real estate in primary and secondary markets throughout Asia Pacific.

The source familiar indicates there's strong demand for strategy, given the market environment.  IREI understands numerous investors from the first fund have re-upped in the second fund.

In other news, Apollo is also marketing its latest U.S. real estate fund, which is also targeting up to $1 billion.

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