Apollo announced that Apollo-managed funds have agreed to acquire a 40 percent stake in Pembina Gas Infrastructure Inc., a premier gas processing entity in Western Canada, from funds managed by KKR. Pembina Pipeline Corporation, which operates and manages PGI’s facilities, will maintain its 60 percent stake in the company and the existing governance structure will remain unchanged upon closing. The transaction is expected to close by the end of the second quarter of 2026. 

Apollo is a high-growth, global alternative asset manager with over US$938 billion in assets under management.

Formed in 2022, PGI is now one of the largest independent gas processing platforms in Western Canada, with a combined capacity of five billion cubic feet per day.

Bennett Jones LLP, Vinson & Elkins LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to the Apollo Funds, and BMO Capital Markets and RBC Capital Markets served as financial advisors.

Simpson Thacher & Bartlett LLP and Torys LLP served as legal counsel to KKR. Scotiabank served as financial advisor to KKR.