Apollo, AR Capital Call Off Deal
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Headquartered at the Solow Building, Apollo sought to expand its real estate presence with the AR Capital deal.
Photo by Alex Maisuradze
NEW YORK CITY—Apollo Global Management andNicholas Schorsch’s AR Capital said Monday that they had mutually agreed to terminate a deal for Apollo to buy controlling interest in a newly formed company, AR Global Investments, that would have owned a majority of AR Capital’s asset management business. In a separate but related deal, Apollo will now buy some, but not all, of theRCS Capital Corp. platform.
Both the AR Global and RCS deals were announced this past August. Apollo was to have paid $378 million in cash and stock for its 60% stake in AR Global and to have acquired RCS, which would have been part of the AR Global platform, for $25 million…
