British multinational bank Standard Chartered has formed a long-term strategic partnership with global alternative asset manager Apollo to accelerate financing for the climate transition and sustainable infrastructure. As part of the agreement, the bank and Apollo’s Clean Transition Capital (ACT Capital), a sustainable investing platform, will collectively contribute up to US$3 billion of clean energy and transition financing across a range of asset classes and sectors. “The global industrial renaissance is creating unprecedented capital demands across next-gen infrastructure, sustainable power and other transition assets,” said Apollo Co-president Jim Zelter. “This new agreement should accelerate our mutual financing and investment activity in these areas, and we are thrilled to do it in partnership with Standard Chartered.” Deal origination for the partnership’s financing activities will be primarily taken up by Apterra, an Apollo-owned platform – within which Standard Chartered has acquired a minority stake – that focuses on originating, structuring and deploying debt capital to execute infrastructure transactions globally. “This partnership with Apollo […] is a great opportunity to leverage our collective sector expertise and innovative mindset to help finance sustainable growth,” said Standard Chartered Group CEO Bill Winters. “Standard Chartered and Apollo have complementary origination and distribution capabilities, which increase the scale of the financing we can jointly deploy, and the size of the projects in which we can participate.” The bank will provide a senior secured credit facility to ACT Capital to find project finance and infrastructure loans.
