When US buyout firm Apollo Management revealed plans to expand into the real estate market earlier this year, it was confronted by a potential branding problem. Back in 1993 Apollo Management helped launched Apollo Real Estate Advisers, a real estate investment firm that's still thriving today. Consequently, if Apollo Management wanted to retain the Apollo name for its real estate venture – and reports suggested that it did – the prospect arose of two firms operating in the same space, both named after the same god of mythology.
Apollo Real Estate offered a gallant solution. The firm, which ended its affiliation with Apollo Management in 2000, recently agreed to change its name to Area Property Partners from January 2009 – leaving Apollo Management apparently free to extend its brand without any fear of sowing confusion. At around the same time as Apollo Real Estate was announcing its planned rebranding, however, it turned out that a further twist to the tale was being devised. Fund industry veterans TomMcGrath and Steve Brann unveiled the launch of a new asset management company. The name they had conjured for this venture? None other than ApolloMulti-AssetManagement.