 | TOKYO -- Japan's Sumitomo Mitsui Trust Holdings plans to enter into a business partnership with Apollo Global Management that will eventually enable Japanese individuals and pension funds to buy into funds operated by the U.S. firm, Nikkei has learned.
Sumitomo Mitsui Trust Bank, a unit of the banking group, will invest $1.5 billion in Apollo funds in areas including private equity, real estate and infrastructure under the tie-up.
After leveraging its status as a big institutional investor to gather information on the funds and their performance, it will consider offering alternative investment products more accessible to retail customers.
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