Apollo Funds Complete Acquisition of Stream Data Centers
Apollo (NYSE: APO) announced that Apollo-managed funds completed acquisition of a majority interest in Stream Data Centers (SDC) on Nov 3, 2025. Principal Asset Management acquired a minority stake while SDC management retains a minority ownership and will continue to lead the company. SDC will scale a 4+ gigawatt hyperscale development pipeline and has delivered more than 20 campuses to hyperscale and enterprise customers.
Apollo cited a well-capitalized land fund with substantial power allocations coming online in the next 12–24 months, and noted Apollo-managed funds have deployed over $40 billion since 2022 into next-generation infrastructure.
Apollo (NYSE: APO) ha annunciato che i fondi gestiti da Apollo hanno completato l'acquisizione della maggioranza in Stream Data Centers (SDC) il 3 novembre 2025. Principal Asset Management ha acquisito una partecipazione minoritaria, mentre la direzione di SDC mantiene una partecipazione minoritaria e continuerà a guidare l'azienda. SDC svilupperà un portafoglio di sviluppo iperscale da oltre 4 gigawatt e ha realizzato oltre 20 campus per clienti iperscale e aziendali.
Apollo ha citato un fondo fondi ben capitalizzato con assegnazioni di energia sostanziali che entreranno in funzione nei prossimi 12–24 mesi, e ha osservato che i fondi gestiti da Apollo hanno impiegato oltre $40 miliardi dal 2022 in infrastrutture di prossima generazione.
Apollo (NYSE: APO) anunció que los fondos gestionados por Apollo completaron la adquisición de una participación mayoritaria en Stream Data Centers (SDC) el 3 de noviembre de 2025. Principal Asset Management adquirió una participación minoritaria, mientras la dirección de SDC mantiene una participación minoritaria y continuará dirigiendo la empresa. SDC ampliará una pipeline de desarrollo hyperscale de más de 4 gigavatios y ha entregado más de 20 campus a clientes hyperscale y empresariales.
Apollo citó un fondo de tierras bien capitalizado con asignaciones de energía sustanciales que entrarán en funcionamiento en los próximos 12–24 meses, y señaló que los fondos gestionados por Apollo han desplegado más de $40 mil millones desde 2022 en infraestructuras de próxima generación.
Apollo (NYSE: APO)가 Apollo 관리 펀드가 Stream Data Centers (SDC)의 다수 지분을 2025년 11월 3일에 매수했다고 발표했습니다. Principal Asset Management는 소수 지분을 취득했고 SDC 경영진은 소수 지분을 유지하며 회사를 이끌 계속할 것입니다. SDC는 4기가와트 이상의 하이퍼스케일 개발 파이프라인을 확장하고 있으며, 20개 이상 캠퍼스를 하이퍼스케일 및 기업 고객에게 제공해 왔습니다.
Apollo는 향후 12–24개월 안에 가동될 대규모 에너지 할당이 포함된 잘 자본화된 토지 펀드를 언급했고, Apollo 관리 펀드가 2022년 이래 $400억 달러를 차세대 인프라에 배치했다고 밝혔습니다.
Apollo (NYSE: APO) a annoncé que les fonds gérés par Apollo ont finalisé l'acquisition d'une participation majoritaire dans Stream Data Centers (SDC) le 3 novembre 2025. Principal Asset Management a acquis une participation minoritaire, tandis que la direction de SDC conserve une participation minoritaire et continuera de diriger l'entreprise. SDC va déployer un pipeline de développement hyperscale de plus de 4 gigawatts et a livré plus de 20 campus à des clients hyperscale et d'entreprise.
Apollo a cité un fonds foncier bien capitalisé avec des allocations d'énergie substantielles qui entreront en service dans les prochains 12–24 mois, et a noté que les fonds gérés par Apollo ont investi plus de 40 milliards de dollars depuis 2022 dans les infrastructures de prochaine génération.
Apollo (NYSE: APO) kündigte an, dass Apollo-verwaltete Fonds die Übernahme einer Mehrheitsbeteiligung an Stream Data Centers (SDC) am 3. November 2025 abgeschlossen haben. Principal Asset Management erwarb eine Minderheitsbeteiligung, während die Geschäftsführung von SDC eine Minderheitsbeteiligung behält und das Unternehmen weiterhin führt. SDC wird eine 4+ Gigawatt-Hyperscale-Entwicklungspipeline skalieren und hat mehr als 20 Campus an Hyperscale- und Unternehmenskunden geliefert.
Apollo verwies auf einen gut kapitalisierten Landfonds mit erheblichen Energieallokationen, die in den nächsten 12–24 Monaten online gehen werden, und bemerkte, dass von Apollo verwaltete Fonds seit 2022 über 40 Milliarden USD in die Next-Generation-Infrastruktur investiert haben.
Apollo (NYSE: APO) أعلنت أن الصناديق المدارة من Apollo أكملت الاستحواذ على حصة غالبية في Stream Data Centers (SDC) في 3 نوفمبر 2025. استحوذ Principal Asset Management على حصة أقلية بينما تحتفظ إدارة SDC بنصيب الأقلية وستواصل قيادة الشركة. ستطوّر SDC خط أنابيب تطوير هايبرسكال يشغل 4 جيجاوات وأكثر وتسلّم أكثر من 20 حرمًا جامعيًا لعملاء هايبرسكال والشركات.
أشار Apollo إلى صندوق أراضي مموّل جيدا مع تخصيصات طاقة كبيرة ستدخل الخدمة خلال 12–24 شهراً، وذكر أن الصناديق المدارة من Apollo قد وضعت أكثر من $40 مليار منذ 2022 في بنية تحتية من الجيل التالي.
- Majority acquisition of SDC completed by Apollo-managed funds (Nov 3, 2025)
- Principal acquired a minority interest in SDC
- SDC management retains minority stake and continues to lead
- 4+ gigawatt hyperscale development pipeline
- SDC delivered 20+ campuses to hyperscale and enterprise customers
- Land fund with power allocations coming online in 12–24 months
- Apollo deployed $40 billion since 2022 into next‑generation infrastructure
- None.
Insights
Majority acquisition gives Apollo scaled control of a hyperscale developer and a multi‑gigawatt growth runway.
Apollo gains a majority interest in Stream Data Centers and positions SDC as a core operating platform to accelerate delivery across a stated 4+ gigawatt development pipeline, with a well‑capitalized land fund and power allocations coming online in
The transaction links capital depth and platform governance, which should speed site delivery and customer contracting if execution stays on plan; key risks include integration friction, execution of utility hookups, and retention of SDC’s management and customer relationships.
Watch for concrete progress on land-to-service timelines, confirmed power availability over the next
Strategic capital and a minority stake from Principal strengthen SDC's ability to serve hyperscale and AI demand.
Stream Data Centers retains its management team and receives both majority capital from Apollo and a minority investment from Principal, which together aim to accelerate campus delivery in Tier 1 markets where SDC already completed over 20 campuses.
Dependencies include timely power allocations and execution across construction and interconnection; if power and permitting milestones slip, revenue ramp will lag despite capital availability.
Monitor announcements about power allocation confirmations, new offtake agreements with hyperscale/AI customers, and near‑term campus commissioning dates—expect informative signals within the next 12 months.
SDC Positioned to Accelerate Development Across Multi-Gigawatt Hyperscale Pipeline with Apollo Funds’ Capital and Strategic Support
NEW YORK, Nov. 03, 2025 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that Apollo-managed funds (the “Apollo Funds”) have completed the previously announced acquisition of a majority interest in Stream Data Centers (“SDC” or the “Company”), a leading developer and operator of hyperscale data center campuses across the United States. As part of the transaction, Principal Asset Management® (“Principal”) is acquiring a minority interest in SDC through a Principal-managed fund. SDC’s management team will retain a minority stake and continue to lead the company.
As a key operating platform within Apollo’s ecosystem, SDC is positioned to scale development across its platform and execute on a 4+ gigawatt pipeline serving the world’s most sophisticated technology and AI infrastructure users. To date, the Company has delivered more than 20 campuses on behalf of large hyperscale and enterprise customers primarily in Tier 1 data center markets. With a well-capitalized land fund that has substantial power allocations coming online over the next 12-24 months, Apollo believes SDC is well positioned to serve the rapidly growing market for data usage and compute capacity.
“SDC is an essential part of Apollo’s strategy to scale our presence in digital infrastructure,” said Joseph Jackson and Trevor Mills, Partners at Apollo. “We are excited to support the company’s continued expansion as a scaled provider of next-generation capacity for hyperscale and AI customers across key U.S. markets.”
“Principal has long recognized the transformative potential of the data center sector, and our well-established partnership with SDC reflects our deep commitment to supporting critical infrastructure,” said John Berg and Devin Chen, Senior Managing Directors at Principal. “We are excited to continue supporting SDC’s expansion alongside Apollo.”
Michael Lahoud and Paul Moser, Co-Managing Partners of Stream Data Centers, said, “With Apollo Funds’ and Principal’s support, SDC is now equipped to scale faster and more strategically than ever before. As demand for AI and hyperscale infrastructure continues to surge, we’re proud to operate from a position of strength and look forward to delivering transformative capacity where it’s needed most.”
Apollo estimates that global data center infrastructure will require several trillion dollars of investment over the next decade, driven by accelerating demand for compute capacity and AI workloads. Since 2022, Apollo-managed funds and affiliates have deployed over
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2025, Apollo had approximately
About Stream Data Centers
Stream Data Centers is a high-growth developer and operator of data center wholesale colocation capacity and build-to-suit facilities for hyperscale and enterprise users in major markets across the United States. For more than 25 years, SDC has set new standards for innovation, operational excellence and sustainability in the data center industry, acquiring, developing and managing complex data center projects for the world’s most demanding users, with over
About Principal Asset Management®
With public and private market capabilities across all asset classes, Principal Asset Management and its investment specialists look at asset management through a different lens, creating solutions to help deliver client investment objectives. By applying local insights with global perspectives, Principal Asset Management identifies distinct and compelling investment opportunities for more than 1,100 institutional clients in over 80 markets.1 Principal Asset Management is the global investment solutions business for Principal Financial Group® (Nasdaq: PFG), managing
Principal Asset Management and Apollo are not affiliated.
[1] As of September 30, 2025
[2] Pensions & Investments, 2024
Contacts
For Apollo:
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
For Stream Data Centers:
Mary Morgan
Vice President of Marketing & Communications
For Principal Asset Management:
Sara Bonney
Director, Communications
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i Includes certain transactions that have signed but not yet closed. There can be no assurance that these transactions will close as expected or at all.
FAQ
What did Apollo (APO) announce about Stream Data Centers on Nov 3, 2025?
How large is Stream Data Centers' pipeline after the Apollo deal (APO)?
Will SDC management remain after Apollo's majority purchase of Nov 3, 2025?
What operational capacity has Stream Data Centers delivered to date after the APO transaction?
When will SDC's power allocations from the land fund come online after the Apollo acquisition?
How much capital has Apollo deployed into next-generation infrastructure since 2022?
