Transactions - AUGUST 17, 2022

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Apollo takes 11% stake in Aldar to drive transformational growth initiatives

by Kali Persall

Apollo Global Management has taken an 11.1 percent minority stake in Aldar Investment Properties (AIP), a subsidiary of Abu Dhabi–listed Aldar Properties PJSC and the region’s largest institutional-class real estate platform.

The transaction involved the issuance of $400 million of common equity and mandatory convertible preferred equity into AIP, which houses Aldar’s core asset management business composed of more than AED 23 billion ($6.3 billion) of prime real estate assets across the retail, residential, commercial and logistics sectors. The diversified portfolio has proven highly resilient through business cycles, with occupancy standing at 92 percent as of June 30, 2022.

This transaction forms part of a larger agreement Aldar Properties PJSC and Apollo signed in February that would see Apollo-managed funds and clients invest $1.4 billion in strategic capital to drive Aldar’

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