Apollo Funds to Acquire Majority Stake in Stream Data Centers, Forming a Scaled Digital Infrastructure Leader
Apollo (NYSE: APO) has announced that its managed funds will acquire a majority stake in Stream Data Centers (SDC), a hyperscale data center developer and operator. SDC's management will retain a minority stake and continue leading the business.
The transaction positions SDC to execute on its 4+ gigawatt development pipeline, with Apollo potentially deploying billions into digital infrastructure. As part of the deal, Apollo Funds and Stream Realty Partners will commit new capital to SDC's land fund to accelerate development of 650 MW of near-term power capacity across Chicago, Atlanta, and Dallas campuses.
The acquisition aligns with Apollo's strategic focus on next-generation infrastructure investments, having deployed $38 billion in this sector since 2022. The transaction is expected to close in 2025.
Apollo (NYSE: APO) ha annunciato che i suoi fondi gestiti acquisiranno una quota di maggioranza in Stream Data Centers (SDC), uno sviluppatore e operatore di data center hyperscale. Il management di SDC manterrà una quota di minoranza e continuerà a guidare l'azienda.
Questa operazione permette a SDC di portare avanti il suo portafoglio di sviluppo superiore a 4 gigawatt, con Apollo che potrebbe investire miliardi nelle infrastrutture digitali. Nell'ambito dell'accordo, Apollo Funds e Stream Realty Partners investiranno nuovi capitali nel fondo immobiliare di SDC per accelerare lo sviluppo di 650 MW di capacità energetica a breve termine nei campus di Chicago, Atlanta e Dallas.
L'acquisizione è in linea con il focus strategico di Apollo sugli investimenti nelle infrastrutture di nuova generazione, avendo investito 38 miliardi di dollari in questo settore dal 2022. La chiusura della transazione è prevista per il 2025.
Apollo (NYSE: APO) ha anunciado que sus fondos gestionados adquirirán una participación mayoritaria en Stream Data Centers (SDC), un desarrollador y operador de centros de datos hyperscale. La dirección de SDC mantendrá una participación minoritaria y continuará liderando el negocio.
La transacción posiciona a SDC para ejecutar su cartera de desarrollo de más de 4 gigavatios, con Apollo potencialmente invirtiendo miles de millones en infraestructura digital. Como parte del acuerdo, Apollo Funds y Stream Realty Partners comprometerán nuevo capital al fondo de terrenos de SDC para acelerar el desarrollo de 650 MW de capacidad energética a corto plazo en los campus de Chicago, Atlanta y Dallas.
La adquisición se alinea con el enfoque estratégico de Apollo en inversiones en infraestructura de próxima generación, habiendo desplegado 38 mil millones de dólares en este sector desde 2022. Se espera que la transacción se cierre en 2025.
Apollo (NYSE: APO)는 자사가 관리하는 펀드가 하이퍼스케일 데이터 센터 개발 및 운영사인 Stream Data Centers (SDC)의 지분 과반수를 인수할 것이라고 발표했습니다. SDC 경영진은 소수 지분을 유지하며 사업을 계속 이끌 예정입니다.
이번 거래를 통해 SDC는 4기가와트 이상의 개발 파이프라인을 실행할 수 있게 되며, Apollo는 디지털 인프라에 수십억 달러를 투자할 가능성이 있습니다. 이번 계약의 일환으로 Apollo Funds와 Stream Realty Partners는 SDC 토지 펀드에 신규 자본을 투입해 시카고, 애틀랜타, 댈러스 캠퍼스 전역에서 단기 650MW 전력 용량 개발을 가속화할 예정입니다.
이번 인수는 2022년 이후 이 부문에 380억 달러를 투자한 Apollo의 차세대 인프라 투자 전략과 일치하며, 거래는 2025년에 완료될 것으로 예상됩니다.
Apollo (NYSE : APO) a annoncé que ses fonds gérés acquerront une participation majoritaire dans Stream Data Centers (SDC), un développeur et opérateur de centres de données hyperscale. La direction de SDC conservera une participation minoritaire et continuera à diriger l'entreprise.
Cette transaction permet à SDC d'exécuter son pipeline de développement de plus de 4 gigawatts, Apollo pouvant potentiellement investir des milliards dans l'infrastructure numérique. Dans le cadre de l'accord, Apollo Funds et Stream Realty Partners s'engageront à injecter de nouveaux capitaux dans le fonds foncier de SDC pour accélérer le développement de 650 MW de capacité énergétique à court terme sur les campus de Chicago, Atlanta et Dallas.
Cette acquisition s'inscrit dans la stratégie d'Apollo axée sur les investissements dans les infrastructures de nouvelle génération, ayant déployé 38 milliards de dollars dans ce secteur depuis 2022. La clôture de la transaction est prévue pour 2025.
Apollo (NYSE: APO) hat bekannt gegeben, dass seine verwalteten Fonds eine Mehrheitsbeteiligung an Stream Data Centers (SDC), einem Entwickler und Betreiber von Hyperscale-Datenzentren, erwerben werden. Das Management von SDC wird eine Minderheitsbeteiligung behalten und das Unternehmen weiterhin führen.
Die Transaktion ermöglicht es SDC, seine Entwicklungspipeline von über 4 Gigawatt umzusetzen, wobei Apollo möglicherweise Milliarden in digitale Infrastruktur investiert. Im Rahmen des Deals werden Apollo Funds und Stream Realty Partners neues Kapital in den Grundstücksfonds von SDC investieren, um die Entwicklung von 650 MW kurzfristiger Leistungskapazität auf den Standorten in Chicago, Atlanta und Dallas zu beschleunigen.
Der Erwerb entspricht Apollos strategischem Fokus auf Investitionen in die Infrastruktur der nächsten Generation. Seit 2022 hat Apollo in diesem Sektor 38 Milliarden US-Dollar investiert. Der Abschluss der Transaktion wird für 2025 erwartet.
- Strategic acquisition providing Apollo access to the high-growth data center infrastructure market
- SDC controls over 4 gigawatts of long-term powered land with strong near-term pipeline
- Immediate development potential of 650 MW across key metropolitan markets
- Management team retention ensures operational continuity
- Apollo's significant capital backing enables rapid scaling to meet hyperscale cloud and AI demand
- Transaction requires significant capital deployment in a capital-intensive industry
- Deal completion subject to closing conditions with potential regulatory scrutiny
- Execution risks in scaling operations to meet aggressive development timeline
Insights
Apollo's acquisition of Stream Data Centers positions it to deploy billions into the high-growth data center sector amid surging AI and cloud demand.
Apollo's strategic acquisition of Stream Data Centers (SDC) represents a significant expansion into the high-growth digital infrastructure sector. The transaction gives Apollo control of SDC's impressive 4+ gigawatt development pipeline across key U.S. markets, positioning it to capitalize on the explosive demand for data center capacity driven by AI and cloud computing growth.
The deal structure is noteworthy for its long-term capital deployment strategy. Apollo will not only acquire a majority stake in SDC but will also commit additional capital to Stream's data center land fund, which controls sites with 650 MW of near-term power capacity across Chicago, Atlanta, and Dallas markets. This provides Apollo with both operating control and land assets – critical in a sector where securing power-ready sites has become a significant competitive advantage.
The timing aligns perfectly with industry tailwinds. Data center demand is surging amid the AI revolution, with Apollo estimating the sector will require trillions in global investment over the next decade. By leveraging SDC's development expertise and land holdings, Apollo gains a platform to deploy capital at scale in a sector experiencing structural growth.
This acquisition continues Apollo's strategic push into next-generation infrastructure. The firm has deployed approximately
Apollo’s Long-Term Capital to Accelerate Stream’s 4+ GW Development Pipeline and Enable Deployment of Billions Into Critical U.S. Infrastructure
NEW YORK and DALLAS, Aug. 06, 2025 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that Apollo-managed funds (the “Apollo Funds”) have agreed to acquire a majority interest in Stream Data Centers (“SDC” or the “Company”) from Stream Realty Partners (“SRP”). With Apollo’s backing, SDC is positioned to execute on a multi-gigawatt pipeline while enabling Apollo Funds and affiliates to potentially deploy billions of dollars into next-generation digital infrastructure. SDC’s management team will retain a minority stake and continue leading the business.
SDC builds, leases, manages and operates hyperscale data center campuses and has delivered more than 20 campuses to date. The Company controls over 4 gigawatts of long-term powered land and has a robust near-term pipeline. With Apollo Funds’ capital and strategic support, SDC plans to scale platform-wide development to meet accelerating demand from hyperscale cloud and AI providers across key Tier 1 and Tier 2 U.S. markets.
“Stream Data Centers represents a landmark digital infrastructure transaction for Apollo,” Apollo Partners Joseph Jackson and Trevor Mills said. “With deep development expertise and a valuable long-term land fund in key growth markets, we believe SDC is uniquely positioned to serve the infrastructure needs of the world’s most sophisticated technology customers. Apollo will bring scaled capital and structuring capabilities to help drive recurring origination across our ecosystem. We look forward to partnering with SDC as a key operating platform to deliver next-gen capacity at scale.”
Michael Lahoud and Paul Moser, Co-Managing Partners of Stream Data Centers, stated, “We are excited to partner with Apollo on the next phase of SDC's growth amid robust demand for data center solutions. After more than two decades of delivering exceptional data center experiences, SDC has created a building and operating model with very strong fundamentals based on collaborative, enduring customer relationships. This symbiotic relationship with Apollo amplifies that existing strength, offering access to the capital required to significantly scale our developments at the rate hyperscale customers demand. We look forward to working with the Apollo team to execute on our pipeline — and we extend our sincere gratitude to SRP for providing the firm foundations that have helped SDC become the organization it is today.”
Apollo estimates that data centers will require several trillion dollars of global investment over the next decade, driven by a secular global industrial renaissance, with substantial investments required in power, facilities and semiconductor chips. Since 2022, Apollo-managed funds have deployed approximately
As part of the transaction, Apollo Funds and SRP will commit new capital to Stream’s existing data center land fund to accelerate site development for 650 MW of near-term power capacity across campuses in metro Chicago, Atlanta and Dallas. A newly formed subsidiary of the Apollo Funds will assume the role of investment manager of the land fund.
The transaction is subject to customary closing conditions and is expected to be completed in 2025.
Goldman Sachs & Co. acted as sole financial advisor to Stream Data Centers, while Akin Gump Strauss Hauer & Feld LLP served as legal counsel. Moelis & Company acted as financial advisor to the Apollo Funds on the transaction, while Latham & Watkins LLP served as legal counsel.
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
Since 1999, Stream Data Centers has set new standards for innovation, operational excellence and sustainability in the data center industry. With over
From location strategy and site selection to data center construction and operations, Stream develops wholesale colocation capacity and build-to-suit facilities for hyperscale and enterprise users in major markets across the United States. As the company’s site development affiliate, Headwaters employs a team of hyperscale experts dedicated to building a land bank for the data center industry, helping Stream Data Centers and others uncover low-risk land sites for optimum data center development. Additionally, Stream Data Centers provides energy procurement services with a focus on reducing market risk and providing low-cost renewable energy options. To learn more, please visit www.streamdatacenters.com.
Stream Data Centers is headquartered in Dallas, Texas.
About Stream Realty Partners
Stream Realty Partners is a national commercial real estate firm offering an integrated platform of leasing, investment and development services. This includes tenant and landlord representation, Legendary CX property management, capital markets, investment management and sales, construction, construction management, national program management, workplace strategies, strategic marketing, and dedicated research. The company is headquartered in Dallas with operations in core markets coast to coast. Since 1996, Stream has grown to more than 1700 professionals and now completes annual transactions valued at more than
Contacts
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
For Stream Data Centers:
Mary Morgan
Vice President of Marketing & Communications
info@stream-dc.com
For Stream Realty Partners:
Molly McMurtry
Stream Realty Partners
press@streamrealty.com
FAQ
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