Apollo, Standard Chartered Launch $3 Billion Energy Transition Financing Partnership – ESG Today

World different funding supervisor Apollo and UK-based worldwide banking group Normal Chartered introduced at present the launch of a brand new strategic partnership centered on accelerating financing for infrastructure, clear transition and renewable vitality globally.

The brand new initiative follows the launch by Apollo in 2023 of Apollo Clear Transition Capital (ACT Capital), an funding technique geared toward investing in firms to offer capital for his or her transition to scrub vitality and sustainable trade. In 2023, Apollo additionally launched a sustainable investing platform, centered on financing and investing within the vitality transition and decarbonization of trade, in addition to its Apterra platform, centered on originating, structuring and deploying debt capital to execute infrastructure transactions globally.

Jim Zelter, Apollo Asset Administration Co-President, mentioned:

“The worldwide industrial renaissance is creating unprecedented capital calls for throughout next-gen infrastructure, sustainable energy and different transition property. This new settlement ought to speed up our mutual financing and funding exercise in these areas, and we’re thrilled to do it in partnership with Normal Chartered, an vital and long-time banking associate to Apollo’s franchise.”

Underneath the brand new partnership, Apollo’s ACT Capital and Normal Chartered will contribute as much as US$3 billion of unpolluted vitality and transition financing throughout a spread of asset lessons and sectors, with origination finished primarily by way of the Apterra platform. Normal Chartered can even present a senior secured credit score facility to ACT Capital to fund undertaking finance and infrastructure loans.

Normal Chartered additionally introduced that it has acquired a minority stake in Apterra, and that it’ll assist its funding origination.

Invoice Winters, Group Chief Government of Normal Chartered PLC mentioned:

“Normal Chartered and Apollo have complementary origination and distribution capabilities, which improve the dimensions of the financing we are able to collectively deploy, and the dimensions of the initiatives by which we are able to take part. We’re more than happy to construct on our long-term partnership with Apollo to each increase our present geographical protection and mobilise capital to those crucial elements of the worldwide economic system.”

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

“We imagine this partnership with Normal Chartered will function a big accelerant to the expansion of Apollo’s Clear Transition enterprise and assist its broader Infrastructure Credit score platform, that are crucial elements of our agency’s strategic development plans. We’re equally happy to welcome Normal Chartered as an aligned fairness associate within the rising Apterra platform and imagine we are able to increase our work collectively over time to serve the evolving wants of our international shopper bases.