Apollo continues infra push with new deal
Apollo has deepened its commitment to infrastructure financing by entering into a new $3bn (£2.46bn) partnership with Standard Chartered.
The long-term strategic partnership will support and accelerate financing for infrastructure, clean transition and renewable energy globally. Under the terms of the deal, Standard Chartered and Apollo Clean Transition (ACT) Capital will contribute up to $3bn of clean energy and transition financing across a range of asset classes and sectors.
Apterra – an Apollo platform which specialises in infrastructure debt origination – will originate these deals. Standard Chartered has acquired a minority stake in the platform and will support its investment origination.
Yesterday (14 January), Apollo announced it was expanding its infrastructure capabilities with the acquisition of mid-market asset manager Argo Infrastructure Partners.
“The global industrial renaissance is creating unprecedented capital demands across next-gen infrastructure, sustainable power and other transition assets,” said Jim Zelter, co-president of Apollo Asset Management.
“This new agreement should accelerate our mutual financing and investment activity in these areas, and we are thrilled to do it in partnership with Standard Chartered, an important and long-time banking partner to Apollo’s franchise.”
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“This partnership with Apollo, a market leader in alternative asset management, is a great opportunity to leverage our collective sector expertise and innovative mindset to help finance sustainable growth,” added Bill Winters, group chief executive at Standard Chartered.
“Standard Chartered and Apollo have complementary origination and distribution capabilities, which increase the scale of the financing we can jointly deploy, and the size of the projects in which we can participate.
“We are very pleased to build on our long-term partnership with Apollo to both expand our existing geographical coverage and mobilise capital to these critical parts of the global economy.”
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Over the past five years, Apollo has deployed more than $40bn into energy transition and climate-related investments. The firm’s clean transition capital strategy seeks to meet a wide range of clean energy and climate capital needs across credit and equities.
“We believe this partnership with Standard Chartered will serve as a significant accelerant to the growth of Apollo’s clean transition business and support its broader Infrastructure Credit platform, which are critical components of our firm’s strategic growth plans,” said Samuel Feinstein, Apollo partner and president of ACT Capital.
“We are equally pleased to welcome Standard Chartered as an aligned equity partner in the growing Apterra platform and believe we can expand our work together over time to serve the evolving needs of our global client bases.
“Collectively, ACT Capital and Apterra represent significant opportunities for Apollo and Standard Chartered to access climate and infrastructure credit.”
Apterra was founded in 2023, and since then it has executed more than $4.8bn of transactions.
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