ADNOC and Apollo-led consortium close $5.5 billion real estate investment partnership

Reuters
ADNOC retains a 51 percent majority stake in its $5.5 billion real estate investment partnership. (AFP file photo)
  • Closing takes the combined investment in select ADNOC real estate assets by the investor consortium to $2.7 billion

DUBAI: The Abu Dhabi National Oil Company (ADNOC) said on Tuesday it closed its $5.5 billion real estate investment partnership with entities owned and/or advised by Apollo Global Management Inc. subsidiaries and a group of institutional investors.
The closing takes the combined investment in select ADNOC real estate assets by the investor consortium to $2.7 billion, the company said in a statement.
The Apollo-led consortium collectively holds a 49 percent stake in Abu Dhabi Properly Leasing Holding Company RSC Limited. ADNOC retains a 51 percent majority stake, according to the statement.