Stream Data Centers to See Major Growth with Apollo Investment
Deal News | Aug 06, 2025 | Apollo
Apollo Global Management has announced that its managed funds will acquire a majority stake in Stream Data Centers, a major player in the digital infrastructure market based in Dallas, Texas. This investment is a significant component of Apollo’s strategy to deploy capital into digital infrastructure, an area experiencing massive growth due to increasing demand from cloud and AI technologies. Stream Data Centers, which has developed over 20 data center campuses and controls a substantial amount of powered land, will use Apollo's resources to expand its 4+ gigawatt development pipeline. The transaction underscores the increasing need for infrastructure that can support technology's sophisticated requirements, a belief strongly shared by Apollo's partners Joseph Jackson and Trevor Mills. Stream's management will retain a minority stake and continue leading the operations, thus marking a new phase of growth with a robust development model rooted in enduring customer relationships. The transaction, subject to customary closing conditions, is expected to close in 2025, with Goldman Sachs serving as the financial advisor to Stream and Moelis & Co acting on behalf of Apollo.
Sectors
- Digital Infrastructure
- Private Equity
Geography
- United States – The focus of the acquisition and development plan is within the United States, where Stream Data Centers is based and Apollo operates extensively.
Industry
- Digital Infrastructure – The focus of the article is on the acquisition and development plan for data centers, key components of digital infrastructure to support technological and cloud computing needs.
- Private Equity – Apollo is a major private equity firm involved in the strategic acquisition of Stream Data Centers, reflecting key activities in the private equity sector.
Financials
- $38 billion – Amount deployed by Apollo-managed funds into next-generation infrastructure investments since 2022.
- 4+ GW Development Pipeline – The scale of Stream Data Centers' development pipeline under Apollo's investment strategy.
- 650 MW – Near-term power capacity for site development across campuses in metro Chicago, Atlanta, and Dallas.
- $840 billion – Apollo's assets under management as of June 30, 2025.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Apollo Global Management, Inc. | Acquirer | Company | A high-growth, global alternative asset manager engaged in acquiring a majority stake in Stream Data Centers. |
| Stream Data Centers | Target Company | Company | A company building, leasing, managing, and operating hyperscale data center campuses with a robust development pipeline. |
| Stream Realty Partners | Selling Company | Company | The company selling a majority stake in Stream Data Centers to Apollo-managed funds. |
| Goldman Sachs & Co. | Financial Advisor to Stream Data Centers | Company | Acted as sole financial advisor to Stream Data Centers for the transaction. |
| Moelis & Company | Financial Advisor to Apollo Funds | Company | Served as a financial advisor to Apollo Funds in the transaction. |
| Akin Gump Strauss Hauer & Feld LLP | Legal Advisor for Stream Data Centers | Company | Provided legal counsel for Stream Data Centers during the transaction. |
| Latham & Watkins LLP | Legal Advisor for Apollo Funds | Company | Served as legal counsel for Apollo Funds in the transaction. |