Global alternative investment manager Apollo and UK-based international banking group Standard Chartered announced today the launch of a new strategic partnership focused on accelerating financing for infrastructure, clean transition and renewable energy globally.

The new initiative follows the launch by Apollo in 2023 of Apollo Clean Transition Capital (ACT Capital), an investment strategy aimed at investing in companies to provide capital for their transition to clean energy and sustainable industry. In 2023, Apollo also launched a sustainable investing platform, focused on financing and investing in the energy transition and decarbonization of industry, as well as its Apterra platform, focused on originating, structuring and deploying debt capital to execute infrastructure transactions globally.

Jim Zelter, Apollo Asset Management Co-President, said:

“The global industrial renaissance is creating unprecedented capital demands across next-gen infrastructure, sustainable power and other transition assets. 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.”

Under the new partnership, Apollo’s ACT Capital and Standard Chartered will contribute up to US$3 billion of clean energy and transition financing across a range of asset classes and sectors, with origination done primarily through the Apterra platform. Standard Chartered will also provide a senior secured credit facility to ACT Capital to fund project finance and infrastructure loans.

Standard Chartered also announced that it has acquired a minority stake in Apterra, and that it will support its investment origination.

Bill Winters, Group Chief Executive of Standard Chartered PLC said:

“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.”

Samuel Feinstein, Apollo Partner and President of ACT Capital, added:

“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, which are critical components of our firm’s strategic growth plans. We are equally pleased to welcome Standard Chartered as an aligned equity partner in the growing Apterra platform and believe we can expand our work together over time to serve the evolving needs of our global client bases.