Apollo and Standard Chartered Launch $3 Billion Partnership

Global asset management company Apollo and Standard Chartered PLC have announced a long-term partnership to support and accelerate financing for infrastructure, clean transition and renewable energy globally, leveraging the leading origination and distribution capabilities of both firms.

As part of the agreement, Standard Chartered and Apollo Clean Transition Capital (ACT Capital), a sustainable investing platform, plan to contribute up to $3 billion of clean energy and transition financing across a range of asset classes and sectors.

Origination for the partnership’s financing activities will be primarily undertaken by Apterra, an Apollo-owned platform that focuses on originating, structuring and deploying debt capital to execute infrastructure transactions globally. Standard Chartered has acquired a minority stake in the platform and will support its investment origination.

ACT Capital’s strategy seeks to meet a wide range of clean energy and climate capital needs across credit and equities. Over the past 5 years, Apollo has deployed more than $40 billion into energy transition and climate-related investments and believes the demand for capital in these areas will scale materially in the coming years.

Apterra, an Apollo affiliate founded in 2023, has executed more than $4.8 billion of transactions and is positioned to increase its already robust growth trajectory with the strategic equity support of Standard Chartered.

Standard Chartered, one of the world’s leading cross-border and wealth management banks, is among the top infrastructure lenders in Asia, Africa and the Middle East, with a strong and growing presence in the renewables sector.

High Demand for Capital

Jim Zelter, Apollo Asset Management Co-President, said that the global industrial renaissance has created unprecedented capital demands across next-gen infrastructure, sustainable power and other transition assets.

He said that this new agreement should accelerate their mutual financing and investment activity in these areas, and they were thrilled to do it in partnership with Standard Chartered, an important and long-time banking partner to Apollo’s franchise.

Standard Chartered’s Group CEO Bill Winters said that the partnership with Apollo, a market leader in alternative asset management, is a great opportunity to leverage their collective sector expertise and innovative mind-set to help finance sustainable growth.

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, he added.

Accelerate ACT Capital’s Business

Samuel Feinstein, Apollo Partner and President of ACT Capital, said that this partnership 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 their firm’s strategic growth plans. “Collectively, ACT Capital and Apterra represent significant opportunities for Apollo and Standard Chartered to access climate and infrastructure credit,” he added.

Henrik Raber, Global Head, Global Banking at Standard Chartered, said that with the global growth in infrastructure financing, and their strong presence in the sector, they were delighted to partner with ACT Capital, participate in Apterra and collaborate with the Apollo team.