Apollo Global is new fund manager of JPMorgan’s realty funds in India

Global alternative asset manager Apollo Global Management Llc has taken over JPMorgan Asset Management’s $300-million real estate portfolio in India as its new fund manager and general partner, said two people familiar with the development. Both JPMorgan and Apollo Global are New York-based firms, which have US and European investors as limited partners. The deal expands Apollo Global’s assets under management (AUM) in India to around half-a-billion dollars. As part of the transaction, Apollo Global has inducted four people from JPMorgan’s India team.