Apollo to acquire Argo Infrastructure Partners
Apollo is expanding its infrastructure capabilities with the acquisition of mid-market asset manager Argo Infrastructure Partners.
The firm said that Argo will join its sustainability and infrastructure group and add approximately $6bn of assets to its infrastructure platform.
Apollo expects the acquisition will be modestly accretive to fee-related earnings in 2026.
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Argo was established in 2013 and specialises in digital infrastructure, renewable energy, transportation, utilities and other industries.
“We are excited to announce this agreement with Argo which will add capabilities that are highly complementary to our existing value-add investment strategy,” said Harry Seekings and Olivia Wassenaar, partners and co-heads of infrastructure at Apollo. “The Argo team has curated a high-quality portfolio, managing assets on behalf of a top-tier group of institutional investors.
“Argo has an experienced team with deep origination and asset management expertise, and we look forward to integrating this successful strategy into our franchise, continuing the team’s strong track record of providing investors with thoughtful, differentiated access to mid-market core and core plus infrastructure.”
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Argo founding partner Jason Zibarras added: “Since its founding in 2013, Argo has had a mission to focus relentlessly on delivering on our innovative investment strategy, bringing creativity to a mature, but vital, sector. With this mindset, Argo has built a leading infrastructure platform, managing 18 portfolio companies across the US and Canada. Apollo’s global reach, extensive resources and shared commitment to long-term value creation make them the ideal partner to carry forward Argo’s mission.”
Paul, Weiss, Rifkind, Wharton & Garrison is acting as legal counsel to Apollo. Fenchurch Advisory Partners is acting as exclusive financial advisor and Latham & Watkins is serving as legal counsel to Argo.
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The deal is expected to be completed in the second quarter of 2025, subject to regulatory approvals.
