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December 2 , 2021 APOLLO Apollo Accelerates Global Wealth Build with Acquisition of Griffin Strategic Acquisition to Add US Wealth Distribution Team and Individual Investor - Focused Real Estate and Credit Products with Over $ 5 Billion of AUM NEW YORK , Dec. 02 , 2021 ( GLOBE NEWSWIRE ) -- Apollo ( NYSE : APO ) today announced that it has entered into a definitive agreement to acquire the US wealth distribution and asset management businesses of Griffin Capital ( " Griffin " ) . The acquisition is a significant step in building Apollo's Global Wealth Management Solutions business , which is focused on the development and distribution of alternatives to individual investors and their wealth advisors . Established in 1995 , Griffin has a long and successful track record of providing alternative investment solutions to advisors across the US . Griffin's approximately 60 client - facing distribution professionals work across the wealth management landscape and are particularly well - established in the independent channel , a complement to Apollo's focus to- date on private banks , wirehouses , RIAs and family offices . Apollo intends to integrate the team into its Global Wealth business , rapidly scaling the strategic initiative . The acquisition also adds valuable technology , infrastructure and hundreds of distribution agreements to the Global Wealth platform . In addition , Apollo will acquire Griffin's asset management business , which includes a strong investment team and over $ 5 billion of AUM in individual investor - focused products . Griffin , a pioneer in bringing alternatives to individual investors , was one of the earliest firms to launch the interval fund structure . Apollo CEO Marc Rowan said , " The democratization of finance brings tremendous opportunity for individual investors to access alternatives . With the acquisition of Griffin , we will significantly advance our US wealth market growth plans that we presented at our recent Investor Day . As one of the first firms to bring alternative strategies to the individual investor and advisor market in the US , Griffin has built trusted relationships over 20 - plus years , and in combination with Apollo can offer the market a broader set of solutions . " " The world of alternative investments is vast and competitive , and partnering with a world- class asset manager like Apollo is a logical step in the growth and evolution of Griffin , ” commented Kevin Shields , Chairman and CEO of Griffin Capital . “ Apollo is committed to building its Global Wealth business , and they have the resources to foster growth of our existing interval fund business and bring creative , new alternative solutions to individual investors . I could not be more thrilled that Apollo recognizes the talent of the Griffin team , across distribution , asset management and supporting functions , ” continued Shields . Stephanie Drescher , Chief Client and Product Development Officer of Apollo , said , “ This transaction turbocharges our efforts in the US wealth market by integrating a team that has