Apollo in talks to buy AMP Capital infrastructure equity assets

Apollo in talks to buy AMP Capital infrastructure equity assets

Bloomberg: Apollo Global Management Inc. is in talks to acquire part of AMP Capital’s infrastructure equity business, according to people familiar with the matter.

A deal could be reached as early as next week and would include $5 billion to $7 billion of assets, said one of the people, who asked not to be identified because the discussions are private. Spokespeople for both firms declined to comment.

AMP Capital, which is in the process of being spun off from Sydney-based AMP Ltd., abandoned talks last year with Ares Management Corp. about a potential sale of its infrastructure and real estate management unit. In February, Ares completed a previously announced acquisition of AMP Capital’s infrastructure debt platform.