Apollo Funds To Buy $1 Bln Portfolio Of Equity Investments From GE Capital Unit

(RTTNews) - Funds managed by affiliates of Apollo Global Management, LLC (APO) have agreed to acquire an approximately $1 billion portfolio, including assumed obligations, of predominantly equity investments in energy from GE Capital's (GE) Energy Financial Services unit, the two companies said Monday.

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

The Equity Portfolio comprises approximately 20 investments in renewable energy, contracted natural gas fired generation and midstream energy infrastructure assets, primarily in the U.S.

In connection with this transaction, the companies said they will seek to form an ongoing relationship with respect to select future new energy infrastructure investments.

GE Energy Financial Services continues to use its expertise to invest in and structure third party financial solutions for GE's power and renewable energy customers, globally.