Apollo Funds to Acquire 40% of Pembina Gas Infrastructure in Western Canada
Apollo-managed funds will acquire a 40% stake in Pembina Gas Infrastructure, a Western Canada platform processing about five billion cubic feet per day across 23 plants and 3,900 km of gathering pipelines with 330,000 barrels per day NGL capacity. Pembina retains the remaining 60% and existing governance structure post-close.
1. Transaction Overview
Apollo-managed funds agreed to acquire a 40% interest in Pembina Gas Infrastructure from KKR-managed funds, with Pembina Pipeline maintaining its 60% ownership and existing governance structure. The deal is anticipated to finalize by the end of Q2 2026, pending customary closing conditions.
2. Platform Assets and Operations
Since its 2022 joint venture formation, Pembina Gas Infrastructure has expanded to process approximately five billion cubic feet of gas per day through 23 plants, supported by 3,900 kilometers of gathering pipelines and 330,000 barrels per day of NGL extraction capacity. The network connects key Montney and Duvernay supply areas across central Alberta and northeast British Columbia.
3. Strategic Rationale and Growth Prospects
Apollo views PGI's position at the inlet of North America's industrial energy infrastructure as a platform for capital deployment into development projects alongside Pembina's operational leadership. The partnership aims to leverage PGI's blue-chip customer base and existing midstream footprint to pursue attractive growth opportunities in Western Canada.