Apollo Injects $1B into Aldar Hybrids, Total Pledges Reach $2.9B
Apollo Global Management, a 2.48% holding in the FTGS ETF, has deployed $1 billion into subordinated hybrid notes of Aldar Properties PJSC, raising its total commitments to $2.9 billion since 2022. This capital injection strengthens Aldar’s balance sheet and funds its $5 billion develop-to-hold pipeline.
1. Transaction Details
Apollo-managed funds invested $1 billion in subordinated hybrid notes issued by Aldar Properties PJSC, marking the fifth such investment since 2022 and bringing total commitments to $2.9 billion. The notes are designed to provide long-term, flexible capital to support Aldar’s strategic expansion and acquisition plans.
2. Aldar’s Growth Agenda
Proceeds from the hybrid notes will bolster Aldar’s balance sheet resilience and enable landbank replenishment alongside strategic acquisitions. The developer’s substantial develop-to-hold pipeline, now valued at close to $5 billion, is expected to generate stable, recurring income and diversify its portfolio.
3. Apollo Share and FTGS Exposure
Apollo shares are trading 8.9% below their 20-day SMA and 15% below their 50-day SMA, with a 12-month decline of 24.5% to date. As a 2.48% holding in the FTGS ETF, significant fund flows into or out of FTGS could force buying or selling of Apollo stock, influencing the ETF’s performance.