Apollo set to acquire Argo Infrastructure Partners

Apollo Global Management (NYSE:APO ) on Monday said it will acquire Argo Infrastructure Partners, aiming to expand its infrastructure portfolio by approximately $6 billion.

The transaction, a mix of stock and cash, will see Argo's team and its mid-market assets in North America join Apollo's infrastructure platform.

Argo Infrastructure Partners, founded in 2013, is recognized for its investment in essential infrastructure sectors such as digital infrastructure, renewable energy, and utilities.

The acquisition is designed to enhance Apollo's Sustainability & Infrastructure strategies by integrating Argo's focus on core and core plus infrastructure assets.

The acquisition will bring 18 portfolio companies under Apollo's umbrella and is expected to modestly increase fee-related earnings by 2026.

The completion of the deal is contingent upon regulatory approvals and customary closing conditions, with an anticipated finalization in the second quarter of 2025.

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Source: Investing.com