Apollo-managed funds to acquire 40% stake in Pembina Gas Infrastructure from KKR-managed funds

Apollo-managed funds agreed to acquire a 40% stake in Pembina Gas Infrastructure (PGI), a premier gas processing entity in Western Canada, from funds managed by KKR. The transaction leaves Pembina Pipeline Corp. with a 60% stake and maintains the existing governance structure. PGI, originally formed as a joint venture between Pembina and KKR in 2022, has expanded into one of the largest independent gas processing platforms in Western Canada, operating 23 gas processing plants with a combined capacity of approximately 5 billion cubic feet per day. The platform also manages 3,900 kilometers of gathering pipelines and 330,000 barrels per day of NGL extraction capacity, serving major gas transmission networks across central Alberta and northeast British Columbia. The deal preserves PGI's strategic positioning to supply its blue-chip customer base within the Montney and Duvernay trends. Financial terms of the acquisition were not disclosed in the announcement.

Counterparts (3)

parent_company

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Pembina Pipeline Corp

company · 1 deals

Buyer

Apollo Global Management

company · 2 deals

Apollo Global Management is a leading global alternative investment manager. They invest across a range of industries and geographies, with a significant focus on infrastructure assets.

Seller

KKR

company · 6 deals

KKR is a leading global investment firm that invests across private markets, including infrastructure, with the goal of delivering strong returns and shared success to its clients and the world at large. They focus on fortifying companies and communities and helping secure the futures of institutions and individuals.