Apollo (NYSE: APO) and Santander announced that Apollo-managed funds and affiliates have agreed to invest in an approximately $370 million portfolio of infrastructure credit.
The transaction was led by Apterra, an affiliate of Apollo founded in 2023 that specializes in “financing solutions for infrastructure projects.”
Apollo Partner and President of ACT Capital Samuel Feinstein said:
“We have high conviction in the infrastructure finance opportunity globally given the large capital demands that will continue to drive investment in the sector and see continued opportunity to collaborate with Santander in the space.”
Marcel Patino, Global Head of Private Debt Mobilization at Santander said:
“As we continue to execute on our strategy to proactively rotate assets and maximize profitability, we are pleased to partner with Apollo and Apterra on this portfolio transaction. We remain committed to private debt mobilization to generate additional capital for profitable growth as we continue to accelerate our business transformation efforts.”
Over the past five years, Apollo has deployed over “$40 billion into energy transition and climate-related investments and actively seeks to grow its platform as capital deployment in these areas of the global economy continues to scale.”
Across asset classes, Apollo targets deploying “$50 billion in clean energy and climate investments through 2027 and sees the opportunity to deploy more than $100 billion by 2030.”
As noted in the update, Apollo is a global alternative asset manager.
Their investing expertise across their fully integrated platform has “served the financial return needs of their clients and provided businesses with innovative capital solutions for growth.”
Through Athene, their retirement services business, they “specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions.”
Their approach to investing aligns their clients, businesses they invest in, their employees, and the communities they impact, to “expand opportunity and achieve positive outcomes.”
As of September 30, 2024, Apollo had approximately “$733 billion of assets under management.”
As covered, Banco Santander is a commercial bank, founded in 1857 and headquartered in Spain and “one of the largest banks in the world by market capitalization.”
The group’s activities are reportedly consolidated into five global businesses: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking (CIB), Wealth Management & Insurance and Payments (PagoNxt and Cards).
