Apollo's Historic Investment in Électricité de France
Apollo (NYSE: APO) has recently confirmed a significant commitment to invest up to £4.5 billion in fixed-rate callable notes issued by Électricité de France (EDF). This initiative is part of EDF's expansive €50 billion Euro Medium Term Note (EMTN) program, and the funds are set to primarily support EDF projects in the United Kingdom, with a keen focus on the Hinkley Point C nuclear power station.
This remarkable transaction is recognized as one of the largest sterling-denominated note issuances on record. Apollo Partner Jamshid Ehsani shared insights, stating, "Apollo is pleased to provide this bespoke, large-scale financing to EDF in support of its vital role in advancing European energy sovereignty and power infrastructure, particularly in the UK."
A Partnership Reinforced
Ehsani elaborated on the transaction, highlighting how this landmark financing consolidates Apollo's growing partnership with the French government and EDF. He emphasized, "This is the largest-ever capital funding transaction executed by EDF and marks the largest private credit transaction in the sterling market, reaffirming our position as a leading capital provider for major European companies."
This investment also underscores Apollo’s extensive history of engagement with French enterprises, spanning nearly three decades. Recent endeavors include an impressive €2.5 billion of High-Grade Capital Solutions provided to Air France-KLM across three notable transactions.
Expansive Capital Solutions
Since 2020, under its High-Grade Capital Solutions strategy, Apollo has pioneered over $100 billion in tailored capital solutions for prominent corporations such as Intel, Air France-KLM, BP, Sony, and AB InBev, showcasing its commitment to fostering growth in leading companies.
In facilitating this transaction, Apollo leveraged the expertise of Latham & Watkins, LLP and Kirkland & Ellis LLP as its legal advisors. Apollo Capital Solutions Europe B.V. played a critical role in structuring and arranging the deal. Meanwhile, BNP Paribas and Hogan Lovells, LLP served as financial and legal advisors, respectively, guiding EDF through this monumental endeavor.
About Apollo
Apollo stands as a high-growth, global alternative asset manager. With a three-decade history, Apollo's asset management division seeks to deliver excess returns across a range of risk-reward scenarios, from investment-grade credit to private equity. The company’s investment acumen extends throughout its fully integrated platform, effectively meeting the financial return requirements of its clients while fostering innovative growth capital solutions.
Alongside its investment ventures, Apollo's retirement services branch, Athene, emphasizes securing clients' financial futures by offering a variety of retirement savings products and solutions tailored for institutions. Employing a patient, creative, and knowledgeable investment strategy allows Apollo to align interests between its clients, the companies it supports, its employees, and the communities it touches, thereby expanding opportunities and realizing positive outcomes.
As of the end of March 2025, Apollo manages approximately $785 billion in assets, underscoring its substantial market presence and influence. More information about their services and initiatives is available on their official website.
Contact Information for Apollo
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com / europeanmedia@apollo.com
Frequently Asked Questions
What was the total financing amount Apollo committed to EDF?
Apollo committed to invest up to £4.5 billion in fixed-rate callable notes issued by Électricité de France.
What will the funds from the financing be primarily used for?
The funds will mainly support EDF projects in the United Kingdom, specifically the Hinkley Point C nuclear power station.
How does this transaction rank in terms of size?
This transaction is recognized as one of the largest sterling-denominated private credit transactions in the market.
Who were the legal advisors for Apollo in this transaction?
Latham & Watkins, LLP and Kirkland & Ellis LLP acted as legal counsel for Apollo.
What other companies has Apollo recently invested in?
Apollo has provided substantial capital solutions to companies like Intel, Air France-KLM, BP, and Sony, and has a history of investing in French enterprises.
