Apollo completes acquisition of Griffin Capital's US asset management business

Apollo Global Management Inc. completed its acquisition of the U.S. asset management business of Griffin Capital Co. LLC.

With the close of the transaction, Apollo added two individual investor-focused products to its platform, as well as an associated asset management team.

The Griffin Institutional Access Real Estate Fund and the Griffin Institutional Access Credit Fund are now advised by Apollo and have been renamed the Apollo Diversified Real Estate Fund and the Apollo Diversified Credit Fund, respectively. The two interval funds had about $6.5 billion in total assets under management as of April 30.