Global alternative asset manager Apollo is acquiring Argo Infrastructure Partners, a mid-market asset manager targeting essential infrastructure assets in North America with $6bn assets under management.
Apollo said the stock and cash transaction will add a team of over 20 professionals specialising in core and core-plus infrastructure equity to its sustainability and infrastructure platform, which spans private credit, value-add infrastructure equity and infrastructure private equity strategies.
Financial details were not disclosed.
In a joint statement, Harry Seekings and Olivia Wassenaar, partners and co-heads of infrastructure at Apollo, said: “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.”
Jason Zibarras, founding partner of Argo Infrastructure Partners, said: “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 US 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.”
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