Apollo Funds Acquire 40% Stake in Major Canadian Gas Infrastructure Platform
APO sits 29% above its 52-week low of $99.56.
Summary
Apollo-managed funds have agreed to acquire a 40% interest in Pembina Gas Infrastructure (PGI), a significant gas processing platform in Western Canada, from funds managed by KKR. Pembina Pipeline Corporation (PBA) will maintain its 60% stake and operational control of PGI. This strategic investment expands Apollo's funds' portfolio in critical energy infrastructure, contributing to their Assets Under Management (AUM) and potential fee-related earnings. This is a distinct M&A event for Apollo, separate from other recent news regarding a BDC offering and a potential auto interiors acquisition. The transaction is expected to close by the end of the second quarter of 2026, subject to customary closing conditions.
At the time of this announcement, APO was trading at $128.29 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $74.6B. The 52-week trading range was $99.56 to $157.28. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.