Apollo Funds Acquire Maverick Water Group, Expanding Infrastructure Portfolio
APO sits 30% above its 52-week low of $99.56.
Summary
Apollo funds have acquired Maverick Water Group, a water infrastructure services company. The deal adds to Apollo's growing portfolio of essential infrastructure assets, aligning with its strategy of investing in long-duration, cash-generative businesses. Terms were not disclosed, but the acquisition is modest relative to Apollo's $765 billion market cap and $938 billion in AUM. This follows a series of recent moves by Apollo, including a transparency initiative and a $26 billion private credit fund redemption cap, but the acquisition itself is a standalone expansion. Maverick's management team retains a minority stake and continues to operate the company. The water sector offers stable, regulated returns, which could enhance fee-related earnings over time, and the deal reinforces Apollo's diversification into real assets.
At the time of this announcement, APO was trading at $129.42 on NYSE in the Finance sector, with a market capitalization of approximately $76.5B. The 52-week trading range was $99.56 to $153.29. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.