Apollo funds agreed to sell a 30% minority stake in Miller Homes to Japan’s Daiwa House. Apollo will retain a controlling interest in the UK’s largest private homebuilder. The parties did not disclose the specific financial terms of the deal.
The investment supports Miller Homes’ plan to expand its current output of 5,000 homes per year. The company aims to deliver 7,000 new homes annually through this partnership. Daiwa House provides capital and global expertise to help expand the company’s multi-tenure model.
Apollo acquired Miller Homes in 2022 and has since integrated St. Modwen Homes into the business. This partnership with a global player aims to accelerate the homebuilder’s market expansion. The deal represents a key development for institutional investment within the European housing sector.