By Andrei Skvarsky.
European Principal Finance (EPF), a business franchised by New York-headquartered global asset manager Apollo, has bought an 842m-euro ($923m) portfolio of 68 commercial and residential real estate properties from an Italian pension fund.
The properties include hotel, retail, logistics and parking assets and are mostly located in Rome and Milan, Apollo said in a statement distributed by global press release distribution network GlobeNewswire.
The properties’ former owner is Rome-based pension fund Enpam (Ente Nazionale di Previdenza ed Assistenza dei Medici e degli Odontoiatri).
Assets managed by Apollo, which is a global alternative asset manager, amounted to about $498bn as of December 31, 2021.
EPF is a fund platform that had $8.6bn in assets under management as of the end of 2021.
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