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Corporate Score 52 Neutral

Apollo Global Management to Acquire 40% Stake in Pembina Gas Infrastructure from KKR

Apr 23, 2026 12:59 UTC
APO, KKR, PBA
Medium term

Apollo-managed funds have agreed to purchase a minority interest in a Canadian gas processing platform from KKR. Pembina Pipeline Corporation will maintain its majority stake and operational management of the assets.

  • Apollo acquires 40% stake from KKR
  • Pembina Pipeline Corporation retains 60% ownership
  • Closing expected by end of Q2 2026
  • Processing capacity of 5 billion cubic feet per day
  • Infrastructure includes 23 plants and 3,900km of pipelines
  • NGL extraction capacity at 330,000 barrels per day

Apollo Global Management, Inc. announced on Thursday that its managed funds have reached an agreement to acquire a 40% stake in Pembina Gas Infrastructure Inc. from funds managed by KKR & Co. Inc. The transaction is slated for completion by the end of the second quarter of 2026. Under the terms of the agreement, Pembina Pipeline Corporation will retain its 60% ownership stake in the company. As the entity responsible for operating and managing the facilities, Pembina Pipeline will ensure that the existing governance structure remains unchanged following the transfer of the minority interest. The asset represents a significant piece of Canadian energy infrastructure, boasting a combined processing capacity of approximately five billion cubic feet per day. The operational portfolio consists of 23 gas processing plants, roughly 3,900 kilometers of gathering pipelines, and an NGL extraction capacity of approximately 330,000 barrels per day. Apollo executives characterized the acquisition as a strategic move to align with the 'Global Industrial Renaissance,' noting that the assets support industrial end markets critical to North American energy security. The deal underscores the continued institutional interest in midstream energy assets as key drivers of regional economic stability.

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