Apollo commits to London with new office to act as ‘hub’ for European expansion
Apollo is set to open a new office in London as it seeks to continue its expansion into Europe amid a flurry of dealmaking.
In a release put out today, the US private equity fund said it will combine its teams in a 88,000 square foot office at 1 Soho Place.
The office – which includes a coffee bar, employee dining area and fitness centre – will house more than 400 employees.
The new office will serve as a regional hub for Apollo’s European team and will help to anchor its “global growth strategy”. The investment giant will expand its offering of integrated asset management and retirement services on a global basis.
Apollo chief executive Marc Rowan said: “London is a global financial hub where we have assembled a growing, diverse and highly talented team.
“While we are strong believers in having a local presence across geographies, we also need an anchor location where our people can meet, collaborate and innovate,” Rowan continued.
Apollo’s head of Europe Rob Seminara also said the new office recommits the company to London while acting as a springboard for Europe.
“(The office) further reinforces our commitment to offering the full Apollo platform – from credit, equity, and real assets to retirement services and wealth capabilities – across regions as we strive to put forward creative, bespoke solutions to meet clients’ needs.”
The news comes amid a flurry of activity from Apollo in the UK. Its attempts to buy British oil and gas engineering giant John Wood Group for £1.7bn received a boost today having had four bids rejected already.
Wood Group this morning said it will now consider Apollo’s offer. Takeover rules mean Apollo must make a formal offer or walk away by the close of play on Wednesday – putting time pressures on the deal.
E-commerce firm THG also said it has received a buyout proposal from Apollo this morning.