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Apollo to acquire Griffin Capital's wealth and asset management business with more than $5 billion in AUM

·1 min read
Apollo to acquire Griffin Capital's wealth and asset management business with more than $5 billion in AUM
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Apollo Global Management Inc. said Thursday it has agreed to acquire the U.S. wealth distribution and asset management businesses of Griffin Capital, adding more than $5 billion in assets under management. Terms of the deal were not disclosed, although the private-equity giant said it expects to close in the first half of 2022 and to be breakeven to per-share earnings in 2022 and become a "meaningful" driver of earnings growth in the coming years. Griffin was formed in 1995 and has built a track