Apollo and DigitalBridge are said to be eyeing AMP's international infra equity business, with Dexus bidding for its domestic real estate and infra units.
The joint venture between the two Los Angeles-based firms - in which Oaktree also bought a minority stake in Veleta - aims to fuel a western US expansion.
The European last-mile logistics business is likely to stay in Blackstone control after Prologis withdrew its bid. Either outcome would have been a good result for the New York heavyweight.
Aligned with EQT Exeter’s global strategy, the combined platform is expected to start raising sector-specific vehicles upon the completion of the merger.
KKR's Asia real estate boss John Pattar says the acquisition of the manager allows the firm to tap into a new pool of public capital expected to complement its existing private funds.