Why Is Private Equity Giant Apollo Global Management Stock Shooting Higher Today?

Apollo Global Management, Inc. APO shares are trading higher premarket today. On Friday, S&P Dow Jones Indices disclosed Apollo Global Management will join the S&P 500, effective December 23, 2024.

In another development today, Apollo, along with Banco Santander, S.A. SAN, disclosed that Apollo-managed funds and affiliates will invest in an around $370 million portfolio of infrastructure credit.

The transaction was led by Apterra, an Apollo affiliate established in 2023, specializing in innovative financing solutions for infrastructure projects.

Apollo Partner and President of ACT Capital Samuel Feinstein said, “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.”

Over the past five years, Apollo has invested over $40 billion in energy transition and climate-related projects and aims to expand its platform as capital deployment in these sectors accelerates.

Across asset classes, Apollo targets $50 billion in clean energy and climate investments by 2027, with potential to exceed $100 billion by 2030.

Last week, Apollo agreed to acquire a 50% stake in a 2 GW Texas solar and battery energy storage portfolio from TotalEnergies.

The assets include three solar projects (1.7 GW) and two battery storage projects (300 MW) in the ERCOT market. TotalEnergies will retain a 50% stake and continue operating the assets.

Investors can gain exposure to the APO stock via EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF LBO and Fidelity Disruptive Finance ETF FDFF.

Price Action: APO shares are up 5.71% at $188.00 premarket at the last check Monday.

Image via Shutterstock.

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