Apollo Global Management Acquires Gatehouse Living Group in UK Build-to-Rent Platform Deal

NEW YORK — Apollo Global Management (NYSE: APO) announced April 1 that Apollo-managed funds have acquired Gatehouse Living Group (GLG), a vertically integrated UK residential investment and management platform, from Gatehouse Bank. Financial terms of the transaction were not disclosed.

Platform Overview and Scale

Gatehouse Living Group comprises two primary business units: Gatehouse Investment Management (GIM), its investment arm, and Ascend Properties, its property management division. Together, the Group provides institutional investors with operational services to originate and manage new build-to-rent single-family housing across the United Kingdom.

As of the announcement, GLG has established five investment platforms and successfully exited three, acquiring more than 5,000 homes from the UK's largest housebuilders. Through Ascend Properties, the Group manages more than 10,000 homes nationwide for both its own portfolio and third-party institutional clients. Nearly 4,000 of those homes are operated under the resident-facing white-label Ascend Living brand.

Strategic Rationale and Apollo's UK Housing Ecosystem

The acquisition expands Apollo's existing footprint in the UK housing sector. The firm already operates Foundation Home Loans, a specialist mortgage lender, and holds Miller Homes, described in the announcement as one of the UK's largest housebuilders, as a fund portfolio company.

Apollo manages approximately $938 billion in assets under management as of December 31, 2025, according to the firm.

"GLG, under Gatehouse Bank's stewardship, has established itself as a vertically integrated leader in the UK housing sector, supporting the supply of high-quality, professionally managed rental homes," said Edward Jones, Partner at Apollo. "We look forward to working closely with management to further enhance and expand its operational capabilities and to supporting the platform's continued success as the UK focuses on bolstering homebuilding across tenures and attracting more investment to the sector."

Seller's Perspective and Strategic Rationale for Divestiture

For Gatehouse Bank, a Shariah-compliant ethical bank based in London, Birmingham, Milton Keynes, and Wilmslow, the divestiture is part of a stated long-term retail growth strategy. The bank indicated the sale will support further development of its home finance product offerings, which serve UK residents, UK expatriates, and international homebuyers and landlords.

"We are incredibly proud of the success achieved since GLG launched its first investment in 2014 and the critical role we have played, as an early entrant, in establishing the UK Build to Rent market," said Charles Haresnape, Chief Executive Officer of Gatehouse Bank. "The sale is part of Gatehouse Bank's long-term retail growth strategy and will allow for further development of its home finance product offering, which has seen strong demand supporting UK resident, UK expat and international homebuyers and landlords."

Management Continuity and Rebranding

GLG Chief Executive Officer Paul Stockwell and the existing management team will continue to lead the platform following the transaction. The Group is expected to be rebranded, with an announcement to follow at a later date. GLG will continue to invest both its own capital and that of third-party partners, while Ascend Properties will maintain its property management services for external institutional portfolios.

"This transaction with Apollo is a testament to the strength of our holistic investment and property management platform and will support our continued expansion in the market," Stockwell said.

Gibson Dunn served as legal counsel to the Apollo funds in the transaction.

Sources: Apollo Global Management press release, April 1, 2026. https://ir.apollo.com/news-events/press-releases/detail/616/apollo-funds-acquire-gatehouse-living-group-from-gatehouse