Wednesday, 27 August 2014
Last updated 5 hours ago
May 29 2012 | 8:29am ET
Apollo Global Management's real-estate chief apparently wants out of that increasingly thankless role.
Joseph Azrack is in talks with the New York-based alternative investments giant about taking on a new post at the firm, The Wall Street Journal reports. Such a move could see him exit the job of head of real estate, which he has held since Apollo decided to jump back into that space four years ago.
It's not clear what sort of role Azrack—a 30-year veteran of the real-estate business—could move into, or when any switch might occur. Azrack formerly worked as head of AEW Capital Management and of Citigroup's real-estate investment funds.
Apollo spun-off its real-estate division in 2000, but re-entered the business in 2008. But the $105 billion firm hasn't found much traction; it bought Citi's real-estate business when it found fundraising difficult—but it's still having trouble winning over investors. Its flagship real-estate fund closed at just $713 million—one third of which is conditional—and its deployed about half that capital in just three deals.
All told, Apollo's real-estate division has about $8.6 billion in assets.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...