From Reuters: Apollo Commercial Real Estate Inc has filed an application to raise up to $600 million in an initial public offering and plans to invest in commercial mortgage-backed securities with part of the proceeds, according to a regulatory filing.

Apollo Commercial Real Estate, which plans to qualify as a real estate investment trust by the end of the year, will be managed by a subsidiary of the private equity firm Apollo Global Management, it said in a prospectus it filed on Friday with the U.S. Securities and Exchange Commission……..Full Article: Source