Term Sheet: CapMan buys majority of Caerus, pbb closes in on manager acquisition, Apollo lends big in Spain

Finnish manager CapMan has gained real estate debt exposure through a majority purchase of Caerus Debt Investments; pbb Deutsche Pfandbriefbank is in advanced talks to buy a manager as it diversifies; Apollo Global Management lends against a major Spanish acquisition deal; and more in today's briefing, exclusively for our valued subscribers.