TOKYO -- Japan's Sumitomo Mitsui Trust Holdings plans to enter a business partnership with Apollo Global Management that will eventually enable Japanese individuals and pension funds to buy into funds operated by Apollo, the companies announced on Thursday, confirming an earlier Nikkei report.
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.
