Sector Investment 24 Hours

Last updated: March 21, 2026, 4:30 AM ET

Private Equity & Real Estate Transactions

Apollo Global Management injected $1 billion to acquire a 49% stake in a newly formed retail venture with Realty Income, structuring the deal to provide the private equity giant with a fixed rate of return from the long-term, net-lease portfolio. This move comes as capital diverges from traditional reallocation patterns in private real estate, meaning proceeds from liquidity events are not automatically flowing back into established asset classes. Separately, the Chicago-based public pension fund is actively seeking external real estate investment managers by issuing an RFP for non-core asset mandates, signaling a shift in investment focus.

Fundraising Dynamics

The mechanics of fundraising are showing signs of adjustment across asset classes, with anecdotal evidence suggesting a reversal of earlier trends in infrastructure. Until recently, market observations indicated that larger infrastructure funds were achieving final close status faster than their smaller counterparts, which often endured longer capital-raising periods. The current environment is testing these assumptions as managers navigate diverging investor intentions and new mandate structures like the one seen in Chicago's real estate sector seeking managers.