Sector Investment 24 Hours

Last updated: March 21, 2026, 8:30 AM ET

Real Estate Capital Flows & Strategy

Apollo Global Management is deploying $1 billion to acquire a 49% equity stake in a newly formed retail venture with Realty Income, structuring the deal to deliver a fixed rate of return for the alternative asset manager against a long-term, net-lease portfolio. This movement comes as capital diverges from traditional patterns in private real estate, with liquidity returning but not necessarily recirculating to prior asset classes, according to observations from MIPIM. Meanwhile, institutional allocators are actively seeking external partners, exemplified by the Chicago-based FABF issuing an RFP for non-core real estate investment managers to handle a portion of its portfolio mandates.

Fundraising Dynamics

In the realm of infrastructure fundraising, recent analysis suggests a shift in the speed of capital formation, where larger funds historically achieved final close faster than their smaller counterparts. This trend reverses the prior expectation that fund size negatively impacted time-on-the-road, indicating that established managers are still capturing capital commitments more swiftly despite broader market tightening across alternative asset classes.