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New real estate unit promises South Korean focus
04 Feb 2010
The company announced that its new division will be run from Hong Kong by Grant Kelly, the former chief executive officer of both Colony Capital Asia and Holdfast Capital.
His team of Holdfast employees will be joining him at the new unit, along with seven additional staff members.
Joe Azrack, managing director and head of Apollo, said he was sure Mr Kelly would bring success to the firm's new operations in South Korea and the rest of the Asia-Pacific region.
"We are very pleased that Grant and his team will be joining us to strengthen our presence in the Asia-Pacific markets and bolster our investment capabilities in the region on behalf of our clients," Mr Azrack stated.
Last month, Bank of Korea forecast that South Korea's economy will grow by 4.6 per cent over the course of the next 12 months.
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