This content is not available in your region

Apollo Global to buy $1 billion portfolio of equity investments from GE Capital

Access to the comments Comments
By Reuters

(Reuters) – Apollo Global Management LLC <APO.N> said on Monday that it agreed to buy about $1 billion (767.12 million pounds) portfolio of equity investments in energy assets from General Electric’s <GE.N> finance arm GE Capital.

The portfolio consists of about 20 investments in renewable energy, contracted natural gas fired generation and midstream energy infrastructure assets, primarily in the United States, the U.S. private equity firm said in a statement.

Financial details of the deal, which is expected to close in the fourth quarter of 2018, were not disclosed.

RBC Capital Markets, Goldman Sachs and Bank of Montreal provided financing to Apollo for the deal.

Citigroup Global Markets Inc, RBC Capital Markets and Goldman Sachs were financial advisers to Apollo, while Bank of America Merrill Lynch and PJT Partners advised GE Capital.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Shailesh Kuber)