Apollo plans to $1b on Indian property with lending plan

Apollo Global Management Inc. has plans to lend about $1 billion to developers in India this year, according to Bloomberg.

That represents an increase from the $750 million Apollo lent to Indian developers last year, with two-thirds of that sum directed to residential projects. About 70 percent of this year’s lending will go to home builders and the rest to commercial developers.

Apollo, which opened its Mumbai office in 2008, now manages about $513 billion of assets globally. The firm began lending to Indian property developers in 2017.