Asset manager Apollo and Standard Chartered have launched a $3bn (€2.9bn) credit partnership to finance infrastructure and energy transition projects worldwide.
As part of the partnership, Standard Chartered will acquire a minority stake in Apollo’s infrastructure finance platform, Apterra for an undisclosed sum.
The banking group will also partner with Apollo Clean Transition Capital (ACT Capital) to provide the up to $3bn in clean energy and transition financing across various asset classes and sectors.
The partnership’s financing activities will primarily be originated by Apterra.
Jim Zelter, Apollo Asset Management co-president, said, “This new agreement should accelerate our mutual financing and investment activity in these areas, and we are thrilled to do it in partnership with Standard Chartered, an important and long-time banking partner to Apollo’s franchise.”
Bill Winters, group CEO at Standard Chartered, said: “Standard Chartered and Apollo have complementary origination and distribution capabilities, which increase the scale of the financing we can jointly deploy, and the size of the projects in which we can participate.
“We are very pleased to build on our long-term partnership with Apollo to both expand our existing geographical coverage and mobilise capital to these critical parts of the global economy.”
Samuel Feinstein, Apollo partner and president of ACT Capital, said, “We believe this partnership with Standard Chartered will serve as a significant accelerant to the growth of Apollo’s clean transition business and support its broader infrastructure credit platform, which are critical components of our firm’s strategic growth plans.”
Henrik Raber, global head, global banking at Standard Chartered, said: “With the global growth in infrastructure financing, and our strong presence in the sector, we are delighted to partner with ACT Capital, participate in Apterra and collaborate with the Apollo team.
“This is an exciting opportunity alongside our existing advisory and financing capabilities.”
To read the latest IPE Real Assets magazine click here.
