The agreement is intended to accelerate capital formation for infrastructure, clean transition, and renewable energy efforts globally.
Private equity firm Apollo and Standard Chartered PLC have entered into a long-term strategic partnership to accelerate financing for infrastructure, clean transition, and renewable energy globally, based upon the origination and distribution capabilities of both firms, officials say.
The agreement specifies that the British multinational bank and the sustainable investing platform Apollo Clean Transition Capital (ACT Capital) will “contribute up to US$3 billion of clean energy and transition financing across a range of asset classes and sectors,” officials say. “Origination for the partnership’s financing activities will be primarily undertaken by Apterra, an Apollo-owned platform.”
Standard Chartered has acquired a minority stake in Apterra and will support its investment origination, officials add. “Apollo’s Clean Transition Capital strategy seeks to meet a wide range of clean energy and climate capital needs across credit and equities.”
“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,” says Samuel Feinstein, Apollo partner and president of ACT Capital, in a statement.
Apterra, an Apollo affiliate founded in 2023, has executed more than US$4.8 billion of transactions and hopes to increase its growth trajectory with the strategic equity support of Standard Chartered, officials add. Standard Chartered is among the top infrastructure lenders in Asia, Africa, and the Middle East.
“This new agreement should accelerate our mutual financing and investment activity in these areas,” says Jim Zelter, co-president of Apollo Asset Management, in a prepared statement.
“As part of the partnership, Standard Chartered will provide a senior secured credit facility to ACT Capital to fund project finance and infrastructure loans,” officials say.
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