Apollo Global Management expected to launch infrastructure fund later this year

05 February 2020 - 12:00 am UTC

Apollo Global Management is expected to launch its infrastructure fund later this year, said two sources familiar with the situation.

The platform will be led by Senior Partner and Co-Lead of Infrastructure Geoff Strong with his fellow Co-Lead Dylan Foo, who officially joined the asset manager in September.

Apollo’s infrastructure platform will look at renewable energy, power, communications and transportation, said a third source.

In line with other Apollo funds, it is expected to be an opportunity fund. It is unclear what the target is at this point, but it is expected to be north of a USD 1bn, added a fourth source.

This is not the firm’s first infrastructure fund as it lists an “Infrastructure Equity Fund” that was raised in 2018 as a result of acquiring a portfolio of assets from GE Energy’s Financial Services.

The assets at the time— minority equity stakes in four US renewable assets, four US midstream assets, four US natural gas-fired power plants and other assets — were capitalized with a USD 619m equity commitment and a USD 360m debt financing via RBC.

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