Apollo Global Management has opened a new office in Zurich. The firm aims to build a team of 50 professionals over the next five years as part of its push into the European private wealth market.

Apollo Global Management sees rising deal opportunities in Europe as it ended the second quarter with $72bn in dry powder, or capital available to invest, up 5.9% from a year ago.

A private equity firm backed by consulting giant Alvarez & Marsal is opening an office in Milan, becoming the latest buyout ...