Alternatives

Grant Kelley in new Asia property venture

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The former Colony Capital man takes his team from Holdfast Capital to start a new business in Hong Kong for Apollo Global Management.

New York-based Apollo Global Management has formed Apollo Global Real Estate Management, Asia-Pacific (AGREAP) in Hong Kong and appointed property investment veteran Grant Kelley to run it.

A source close to the firm says it aims to raise $500 million to $1 billion by the second half of the year and will take an "opportunistic" approach, targeting 20%-plus returns.

Kelley will oversee all investor relations and investment management activity across Asia and Australia, including sourcing and underwriting investment opportunities.

He has 20 years of global ...

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