Apollo’s head of Japan fundraising to depart

The long-serving executive was involved in Apollo's strategic partnership with Sumitomo Mitsui Trust Holdings to invest across asset classes.

Teppei Kawai, Apollo Global Management’s head of client and product solutions in Japan, will step down from his role, PERE has learned.

Kawai’s departure marks an end to his seven-year tenure with the US private equity heavyweight. He was hired in 2015 to build and manage the firm’s client and product solutions team in Japan.

Kawai was responsible for marketing the firm’s investment vehicles across private equity, private credit and real assets to Japanese institutional investors. He also led the launch of Apollo’s first retail capital business in Japan, partnering with one of the private banks in Japan. This summer, he was involved in the firm and Athene’s $1.5 billion strategic partnership with Japan’s Sumitomo Mitsui Trust Holdings to invest across the alternative asset classes in the country.

PERE understands Kawai will officially leave the firm at the end of the year to pursue new opportunities, according to market sources close to the situation. Meanwhile, it is understood that Apollo is currently looking for a replacement to fill the void he leaves.

Apollo’s real estate platform has $61 billion in assets under management invested across categories it describes as equity, hybrid and yield as of December 31, 2021. The size of the platform has doubled in terms of assets over the last five years.

Among the firm’s recent transactions was its 50 percent equity acquisition of Australian real estate lender MaxCap in 2021. In the same year, the firm also acquired UK mortgage lender Foundation Home Loans and entered into a strategic agreement with Victory Park Capital in the US to invest in asset-backed credit facilities for emerging companies.

Apart from the above transactions, Apollo is also in the market fundraising for its Apollo Asia Real Estate Fund II and Apollo US Real Estate Fund III. The firm seeks to raise $1 billion for each fund, according to PERE data.