Apollo Global Management (NYSE: APO) has announced a definitive agreement to acquire Argo Infrastructure Partners, a prominent mid-market asset manager specializing in essential infrastructure assets across North America. This strategic acquisition, finalized through a stock and cash transaction, will incorporate approximately $6 billion in high-quality assets into Apollo’s robust infrastructure platform. In addition to a significant asset boost, Apollo will welcome Argo’s experienced team of over 20 professionals, further strengthening its capabilities in core and core plus infrastructure equity investments.
Founded in 2013, Argo Infrastructure Partners has established a strong reputation for generating long-term value within critical infrastructure sectors. Their portfolio spans digital infrastructure, renewable energy, transportation, and utilities, among others. Argo’s focused investment strategy in core and core plus infrastructure assets is highly complementary to Apollo’s existing Sustainability & Infrastructure platform. This acquisition is expected to significantly enhance Apollo’s origination capabilities, particularly within high-growth sectors like digital infrastructure and the energy transition, aligning with Apollo’s strategic vision and market outlook.
Harry Seekings and Olivia Wassenaar, Partners and Co-Heads of Infrastructure at Apollo, jointly commented on the acquisition: “We are thrilled to integrate Argo Infrastructure Partners into Apollo. Their team has cultivated an exceptional, high-performing portfolio, entrusted by leading institutional investors. Argo’s deep expertise in origination and asset management is a valuable addition, and we are eager to incorporate their successful approach into our operations. We are committed to continuing Argo’s proven track record of delivering differentiated access to mid-market core and core plus infrastructure opportunities for our investors.”
Jason Zibarras, Founding Partner of Argo Infrastructure Partners, also shared his perspective: “Since our inception in 2013, Argo has been dedicated to an innovative investment strategy focused on the essential infrastructure sector. We have successfully built a leading platform, managing 18 portfolio companies across the U.S. and Canada. Apollo’s extensive global presence, substantial resources, and shared commitment to long-term value creation make them the ideal partner to propel Argo’s mission forward.”
Upon completion of the acquisition, Argo Infrastructure Partners will become part of Apollo’s Sustainability & Infrastructure group. This group encompasses a broad spectrum of investment strategies, ranging from private credit and value-add infrastructure equity to infrastructure private equity. Apollo anticipates that this transaction will contribute to fee-related earnings growth starting in 2026. The acquisition is currently undergoing standard closing procedures, including regulatory reviews, and is projected to be finalized in the second quarter of 2025.
Advisory Teams
Apollo’s legal counsel was provided by Paul, Weiss, Rifkind, Wharton & Garrison LLP. Argo Infrastructure Partners received financial advisory services from Fenchurch Advisory Partners, with legal counsel from Latham & Watkins.
About Apollo
Apollo is a high-growth, global alternative asset manager. With a proven track record spanning over three decades, Apollo leverages its integrated platform to deliver superior investment returns across the risk-reward spectrum, from investment-grade credit to private equity. Apollo’s expertise serves the financial objectives of its clients and provides innovative capital solutions for businesses. Through its retirement services business, Athene, Apollo offers retirement savings products and institutional solutions, focusing on client financial security. As of September 30, 2024, Apollo managed approximately $733 billion in assets. For further details, please visit www.apollo.com.
About Argo Infrastructure Partners
Argo Infrastructure Partners, founded by Jason Zibarras, is an independent asset manager specializing in long-term infrastructure investments. Argo focuses on high-quality infrastructure businesses and assets that deliver essential services to communities over extended operational lifespans. Their investments encompass utilities, renewable energy, digital infrastructure, and other long-duration infrastructure assets. Argo’s investment philosophy prioritizes both sound financial returns and responsible, sustainable investing practices. As of January 2025, Argo manages over $6 billion in assets on behalf of its investor partners. More information is available at www.argoip.com.
Apollo Forward-Looking Statements
This announcement contains forward-looking statements subject to the Private Securities Litigation Reform Act of 1995. These statements are based on current management beliefs and assumptions and involve risks and uncertainties. Factors that could cause actual results to differ include those detailed in Apollo’s reports filed with the Securities and Exchange Commission, accessible at www.sec.gov. Apollo undertakes no obligation to update forward-looking statements except as required by law. This announcement is not an offer to invest in any Apollo fund.
Contacts
For Apollo:
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
[email protected]
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
[email protected]
For Argo:
Argo Infrastructure Partners
[email protected]
Media Contact
Ira Gorsky
[email protected]
