Apollo has agreed to buy the U.S. wealth-distribution and asset-management businesses of Griffin Capital, marking a step in its plan to expand offerings for wealthy individuals
Apollo Global Management Inc. has agreed to buy the U.S. wealth-distribution and asset-management businesses of Griffin Capital Co., marking a big step in the investment giant’s plan to expand its offerings for wealthy individuals.
The deal, expected to be announced Thursday, will be paid for with Apollo stock, firm officials said. Apollo declined to disclose the price it is paying for the two business units, which make up the majority of Griffin.
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