Sector Investment 24 Hours

Last updated: March 20, 2026, 7:35 PM ET

Real Estate Investment & Capital Flows

Apollo Global Management is deploying $1 billion to acquire a 49% 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 on the long-term, net-lease portfolio. This move comes as capital deployment patterns reveal a notable divergence, with proceeds from returning liquidity in private real estate not flowing back to traditional sources, according to market participants at MIPIM. Further signaling shifts in mandates, the Chicago-based public pension fund has issued an RFP seeking non-core real estate investment managers, indicating a desire to diversify away from established strategies. Market analysis from the global trade show also suggested that delegates were weighing the potential impact of the Iran crisis on the broader commercial property outlook, even as real estate remained a key focus.

Fundraising Dynamics

In infrastructure fundraising, recent trends indicate a reversal of prior expectations regarding fund closure timelines, where larger funds previously closed faster than their smaller counterparts. This shift in fundraising velocity is being closely monitored by institutional investors as they evaluate managers across different asset classes, including real estate, where mandates are currently being reviewed by pensions like the one in Chicago seeking external managers.