Apollo Global Management and Standard Chartered formed a long-term strategic partnership for infrastructure and energy transition financing.
The agreement will see Standard Chartered acquire a minority stake in Apollo infrastructure debt origination platform Apterra, a news release said. Terms of the minority stake were not disclosed.
Standard Chartered and Apollo Clean Transition Capital — a sustainable investing platform — also plan to contribute up to $3 billion of clean energy and transition financing across a range of asset classes and sectors.
As part of the agreement, Standard Chartered will provide a senior secured credit facility to ACT Capital to fund project finance and infrastructure loans.
“The global industrial renaissance is creating unprecedented capital demands across next-gen infrastructure, sustainable power and other transition assets,” said Jim Zelter, co-president and Apollo Asset Management, in the release. “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.”
The partnership “is a great opportunity to leverage our collective sector expertise and innovative mindset to help finance sustainable growth,” added Bill Winters, group CEO at Standard Chartered, in the release.
“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."
Apollo has deployed more than $40 billion into energy transition and climate-related investments over the past five years.
Apollo affiliate firm Apterra was founded in 2023, and has executed more than $4.8 billion of transactions. Standard Chartered, a multinational bank, is one of the top infrastructure lenders in Asia, Africa and the Middle East, the release said.
Apterra will primarily undertake origination for the financing activities of the partnership.
Apollo had about $733 billion of assets under management as of Sept. 30.
A spokesperson could not immediately be reached for comment.