- Vonovia is based in Bochum, Germany
- Apollo is a global alternative asset manager based in New York
- The firm managed around $548bn of assets as of December 2022
Apollo Global Management has agreed to invest €1 billion in a portfolio of real estate assets controlled by Vonovia.
Vonovia, headquartered in Bochum, Germany, is a global residential real estate company with assets of around $100 billion.
Proceeds from the investment will support Vonovia’s capital allocation plans, according to a release.
“This transaction will help Vonovia execute on its strategy through a highly attractive investment,” said Jamshid Ehsani, partner at Apollo.
Apollo has initiated over $18 billion of transactions since the start of 2022.
The transaction is expected to be completed in the second quarter of 2023. Latham & Watkins and Paul, Weiss, Rifkind, Wharton & Garrison are serving as legal counsel to Apollo.
Apollo is a global alternative asset manager based in New York. The firm managed around $548 billion of assets as of 31 December 2022.