Apollo, Santander Partner on $370M Infrastructure Credit Portfolio

Apollo 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, Apollo’s infrastructure financing solutions affiliate founded in 2023.

Apollo has deployed over $40 billion in energy transition and climate-related investments over the past five years, targeting $50 billion in clean energy and climate investments through 2027, with potential to deploy over $100 billion by 2030.

“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,” said Samuel Feinstein, Apollo partner and president of ACT Capital.

Although banks continue to be the principal lenders of infrastructure financing, regulatory mandates have elevated the expenses associated with maintaining these assets on their balance sheets. This creates an opportunity for private capital businesses like Apollo, who are exempt from the same constraints, to acquire bank loans. Apollo has established multiple collaborations with financial institutions, such as Citigroup and BNP Paribas, to enhance credit creation.