Argo Infrastructure Partners Set to Enhance Apollo's Expansion
Deal News | Jan 13, 2025 | Apollo
Apollo has announced an agreement to acquire Argo Infrastructure Partners, a mid-market asset manager, in a cash and stock transaction aiming to integrate approximately $6 billion in assets and expand its platform. The acquisition is in line with Apollo's strategic objectives to strengthen its infrastructural capacities across critical sectors like digital infrastructure and energy transition. This deal promises to deepen Apollo's sustainability efforts and bolster its existing investment strategies. Apollo expects the transaction, to be completed in the second quarter of 2025, to modestly enhance its earnings in 2026.
Sectors
- Infrastructure Investment Management
- Private Equity
- Renewable Energy and Digital Infrastructure
Geography
- North America – Both Apollo and Argo operate significantly within North America, and the deal adds assets primarily located in this region.
- United States – Argo manages portfolio companies across the U.S., making the U.S. a primary geographical focus of the transaction.
- Canada – As part of North America, Canada is included within the operation zones of Argo’s managed portfolio.
Industry
- Infrastructure Investment Management – The acquisition involves the management and investment in infrastructure assets, indicative of the industry's focus.
- Private Equity – Apollo, a leading private equity firm, is undertaking the acquisition to expand its asset management and investment reach.
- Renewable Energy and Digital Infrastructure – Argo's investment focus includes renewable energy and digital infrastructure, sectors targeted for expansion by Apollo.
Financials
- $6 billion – Value of assets from Argo to be added to Apollo's infrastructure platform.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Apollo Global Management, Inc. | Bidding Company | Company | Apollo is a global alternative asset manager acquiring Argo to enhance its infrastructure and asset platform. |
| Argo Infrastructure Partners LP | Target Company | Company | Argo is an independent fund manager focused on infrastructure assets in North America, being acquired by Apollo. |
| Paul, Weiss, Rifkind, Wharton & Garrison LLP | Legal Advisor | Company | Provided legal counsel to Apollo for the transaction. |
| Fenchurch Advisory Partners | Financial Advisor | Company | Served as the exclusive financial advisor to Argo. |
| Latham & Watkins LLP | Legal Advisor | Company | Served as legal counsel to Argo in the acquisition deal. |
| Harry Seekings and Olivia Wassenaar | Individuals | People | Partners and Co-Heads of Infrastructure at Apollo, commented on the acquisition. |
| Jason Zibarras | Founding Partner | People | Founding Partner of Argo Infrastructure Partners. |