Apollo Global Management has announced an agreement to acquire Argo Infrastructure Partners, a mid-market asset manager, through a combination of stock and cash. Upon finalization of the deal, Argo is set to enhance Apollo's infrastructure platform with approximately $6 billion in high-quality assets.
"We are thrilled with this agreement with Argo, which will significantly complement our current value-add investment strategy. The Argo team has developed a high-quality portfolio and manages assets for a leading group of institutional investors," stated Harry Seekings and Olivia Wassenaar, Partners and Co-Heads of Infrastructure at Apollo.
Following the completion of the acquisition, Argo will integrate into Apollo's Sustainability & Infrastructure group. This group encompasses a diverse range of strategies across the risk-return spectrum, including private credit, value-add infrastructure equity, and infrastructure private equity.
Apollo anticipates that the acquisition will be slightly accretive to its fee-related earnings by 2026. The transaction is expected to be finalized in the second quarter of 2025.
