Apollo Global Management Inc. has been busy bulking up its infrastructure portfolio in recent months, signing a slew of deals and investments, including three in the first two weeks of 2025 alone.
On January 14, the $733 billion asset manager announced the signing of a long-term strategic partnership with U.K. financial services company Standard Chartered PLC to support and accelerate financing for infrastructure and renewable energy investments.
Under the agreement, Standard Chartered and Apollo Clean Transition Capital, Apollo’s sustainable investing platform, will fund as much as $3 billion of clean energy and transition financing for various asset classes and sectors. Additionally, Standard Chartered acquired a minority stake in Apterra Infrastructure Capital LLC, an Apollo affiliate that specializes in financing for infrastructure projects.
“The global industrial renaissance is creating unprecedented capital demands across next-gen infrastructure, sustainable power and other transition assets,” Apollo Asset Management Co-President Jim Zelter said in a statement. “This new agreement should accelerate our mutual financing and investment activity in these areas.”
The previous day, Apollo reported that it agreed to acquire Argo Infrastructure Partners LLC, an investment firm targeting infrastructure assets in North America, in a stock and cash transaction. The company, which will be folded into Apollo’s sustainability and infrastructure group, focuses on digital infrastructure, renewable energy, transportation and utilities, among other industries. The acquisition is expected to close in the second quarter.
The deal will add approximately $6 billion worth of assets to Apollo’s infrastructure platform, in addition to 20 new employees, who the company said will focus on core and core plus infrastructure equity investments. Apollo’s funds and accounts have invested more than $14 billion in infrastructure and infrastructure-related investments since it was founded in 1990.
A week earlier, funds managed by affiliates of Apollo, along with private equity firm BC Partners LLP, agreed to acquire waste management company GFL Environmental Inc.’s environmental services business for an enterprise value of $8 billion. As part of the deal, GFL is retaining a $1.7 billion equity interest in the unit.
In December 2024, Banco Santander S.A. announced that Apollo-managed funds and affiliates agreed to invest in an approximately $370 million portfolio of infrastructure credit. The deal was led by Apterra.
In November 2024, funds associated with Apollo’s impact and clean transition strategies acquired a majority stake in the State Group, a provider of electrical, mechanical, robotics and automation services, from private equity firm Blue Wolf Capital Partners LLC. Blue Wolf retains a minority stake in the business, in addition to existing management shareholders. Financial terms were not disclosed.
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Tags: Apollo Global Management, Argo Infrastructure Partners, Infrastructure, Standard Chartered, Sustainability