Apollo has agreed to acquire Argo Infrastructure Partners, a leading mid-market asset manager targeting essential infrastructure assets in North America, in a stock and cash transaction. And at closing, Argo will add about $6 billion of high-quality assets to the Apollo infrastructure platform and an experienced team of more than 20 professionals focused on core and core plus infrastructure equity opportunities.
Founded in 2013, Argo has a solid track record of long-term value creation in digital infrastructure, renewable energy, transportation, utilities, and other industries. Argo’s focus on core and core plus infrastructure assets will broaden Apollo’s Sustainability & Infrastructure strategies and deepen Apollo’s existing origination capabilities within key sectors that Apollo believes will continue to benefit from robust investment, including digital infrastructure and the energy transition.
Upon the closing of the deal, Argo will join Apollo’s Sustainability & Infrastructure group, which includes strategies across the risk-return spectrum from private credit and value-added infrastructure equity to infrastructure private equity.
And Apollo expects the transaction will be modestly accretive to fee-related earnings in 2026. The transaction is subject to customary closing conditions, including the receipt of regulatory approvals, and is expected to be completed in the second quarter of 2025.
Paul, Weiss, Rifkind, Wharton & Garrison is acting as legal counsel to Apollo. Fenchurch Advisory Partners is acting as the exclusive financial advisor, and Latham & Watkins is serving as legal counsel to Argo.
KEY QUOTES:
“We are excited to announce this agreement with Argo which will add capabilities that are highly complementary to our existing value-add investment strategy. The Argo team has curated a high-quality portfolio, managing assets on behalf of a top-tier group of institutional investors. Argo has an experienced team with deep origination and asset management expertise, and we look forward to integrating this successful strategy into our franchise, continuing the team’s strong track record of providing investors with thoughtful, differentiated access to mid-market core and core plus infrastructure.”
– Harry Seekings and Olivia Wassenaar, Partners and Co-Heads of Infrastructure at Apollo
“Since its founding in 2013, Argo has had a mission to focus relentlessly on delivering on our innovative investment strategy, bringing creativity to a mature, but vital, sector. With this mindset, Argo has built a leading infrastructure platform, managing 18 portfolio companies across the U.S. and Canada. Apollo’s global reach, extensive resources and shared commitment to long-term value creation make them the ideal partner to carry forward Argo’s mission.”
– Jason Zibarras, Founding Partner of Argo
