Apollo European NPL fund launches €1bn JV with Palmira

The New York-based credit investment behemoth’s European Principal Finance Fund III has raised more than $4bn. 

Apollo Global Management and Palmira Capital Partners have teamed up to form a joint venture to invest in logistics facilities across Europe, a vehicle that could be nearing the halfway mark in its capital deployment.

The partnership will invest €1 billion in core and future core assets in Germany, Benelux, central and eastern Europe, France, Spain and Portugal.