Targeting the North American middle market, Apollo Global Management invests in infrastructure in three ways: control equity with a value-creation strategy, corporate carve-outs of infrastructure assets corporations passively own, or structured solutions on the credit side.
In an interview published in the May issue of Institutional Investment in Infrastructure, Apollo’s Dylan Foo, head of global infrastructure, and Vittorio Lacagnina, head of institutional client and product services for infrastructure, discuss how infrastructure fits into their larger platform. “At Apollo, our investment strategies span the entire risk/reward spectrum, and our infrastructure franchise is a nice integration that fills the gap between equity and credit returns,” says Foo. Explaining why the firm targets the fragmented middle market, Lacagnina adds, “We leverage two of the ecosystems we have — as one of the world’s largest private credit managers and as one of the deepest