Apollo Global Management has announced its agreement to acquire Argo Infrastructure Partners, a mid-market asset manager specializing in essential infrastructure assets in North America. This acquisition, which involves both stock and cash, is expected to enhance Apollo's infrastructure platform by adding approximately $6 billion in high-quality assets and a skilled team of over 20 professionals.

Founded in 2013, Argo has established a strong track record in sectors such as digital infrastructure, renewable energy, and utilities. The acquisition aligns with Apollo's long-term growth objectives and will broaden its Sustainability & Infrastructure strategies. Apollo's partners, Harry Seekings and Olivia Wassenaar, expressed enthusiasm about integrating Argo's capabilities into their existing investment strategy, emphasizing the value of Argo's curated portfolio and experienced team.

Jason Zibarras, Argo's founding partner, highlighted the firm’s commitment to innovative investment strategies and its successful management of 18 portfolio companies across the U.S. and Canada. He believes that Apollo's global reach and resources will further Argo's mission of delivering long-term value.

Upon completion of the acquisition, Argo will join Apollo's Sustainability & Infrastructure group, which encompasses a range of investment strategies from private credit to infrastructure private equity. The transaction is anticipated to modestly increase Apollo's fee-related earnings by 2026 and is expected to close in the second quarter of 2025, pending regulatory approvals.

Apollo Global Management is a prominent alternative asset manager with approximately $733 billion in assets under management as of September 30, 2024. The firm focuses on providing clients with excess returns across various investment types, including private equity and credit. Through its retirement services business, Athene, Apollo aims to help clients achieve financial security.

Argo Infrastructure Partners is recognized for its long-term approach to infrastructure investing, managing over $6 billion in assets. The firm prioritizes responsible and sustainable investing while delivering essential services through its portfolio.

This acquisition marks a significant step for Apollo as it continues to expand its capabilities in the infrastructure sector, which is poised for robust investment opportunities, particularly in digital infrastructure and energy transition. The integration of Argo's expertise is expected to enhance Apollo's position in the market and provide investors with differentiated access to mid-market infrastructure investments.

Overall, the acquisition reflects Apollo's commitment to driving sustainability and expanding its investment strategies in essential infrastructure, aligning with its broader mission of creating long-term value for clients and communities.