Apollo Global Management, Inc. (NYSE: APO) announced its acquisition of Argo Infrastructure Partners Llc (“Argo”), a prominent mid-market infrastructure asset manager, in January 2025. This strategic move bolsters Apollo’s presence in key sectors like digital infrastructure and renewable energy, aligning with its long-term growth objectives.
Argo Infrastructure Partners LLC: A Deep Dive into the Acquisition
The acquisition of Argo Infrastructure Partners LLC brings approximately $6 billion in high-quality assets under Apollo’s management. Argo’s portfolio focuses on essential infrastructure assets across North America, including core and core plus infrastructure equity opportunities. This acquisition also adds a seasoned team of over 20 professionals with deep expertise in origination and asset management to Apollo’s infrastructure platform.
Strategic Rationale Behind the Acquisition
Argo’s specialization in core and core plus infrastructure assets complements Apollo’s existing value-add investment strategy. This acquisition strengthens Apollo’s capabilities in several key areas:
- Deepened Origination Capabilities: Argo’s established network and expertise enhance Apollo’s ability to source attractive investment opportunities in the mid-market infrastructure space.
- Expanded Sector Focus: Argo’s focus on sectors like digital infrastructure and renewable energy aligns perfectly with Apollo’s long-term investment thesis and commitment to sustainability.
- Enhanced Asset Management Expertise: The integration of Argo’s experienced team strengthens Apollo’s asset management capabilities, ensuring effective oversight and value creation across the combined portfolio.
A Mutually Beneficial Partnership
For Apollo, the acquisition of Argo Infrastructure Partners LLC represents a significant step towards achieving its growth ambitions in the infrastructure sector. For Argo, joining forces with Apollo provides access to a global platform, expanded resources, and enhanced opportunities for long-term value creation.
The transaction is expected to be modestly accretive to Apollo’s fee-related earnings in 2026. This acquisition marks a significant development in the infrastructure investment landscape, combining the strengths of two leading players to capitalize on the growing opportunities in essential infrastructure assets.
Looking Ahead
The integration of Argo into Apollo’s Sustainability & Infrastructure group positions the combined entity for continued success. This group encompasses a broad range of strategies, from private credit and value-add infrastructure equity to infrastructure private equity, covering the full risk-return spectrum. The acquisition is expected to close in the second quarter of 2025, subject to regulatory approvals and customary closing conditions.
About Argo Infrastructure Partners LLC
Founded in 2013, Argo Infrastructure Partners LLC has built a strong track record of investing in essential infrastructure assets across North America. The firm’s portfolio includes investments in diverse sectors such as digital infrastructure, renewable energy, transportation, and utilities. Argo is committed to responsible and sustainable investing, seeking both strong financial returns and positive community impact.
About Apollo Global Management, Inc.
Apollo is a leading global alternative asset manager with a long history of delivering strong investment performance across a wide range of asset classes. The firm’s integrated platform provides clients with access to investment opportunities spanning the risk-reward spectrum, from investment-grade credit to private equity. Apollo is also committed to providing innovative capital solutions to businesses, supporting their growth and development.
