Apollo has closed its second dedicated infrastructure fund, Apollo Infrastructure Opportunities Fund II (AIOF II), with $2.54 billion in capital commitments coming from a diverse base of new and existing investors.
AIOF II will use the funds to continue investing in mid-market infrastructure assets primarily across communications, power and renewables, and transportation.
The fund has so far invested in Broad Reach Power, an energy-storage and renewable-energy platform; formed a joint venture with Johnson Controls; created a joint venture to grow Great Bay Renewables’ renewable royalties business; and invested in a utility-scale offshore wind platform off the coast of Maryland. AIOF II also has invested in fiber-based carrier FirstDigital Telecom, and acquired U.S. telecoms platform Parallel Infrastructure.
The firm’s dedicated infrastructure business currently manages some $6 billion in infrastructure-related assets around the world.
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