Apollo acquires 40% of Canada’s Pembina Gas Infrastructure

Apollo acquires 40% of Pembina Gas Infrastructure

Canada

CALGARY, April 24, 2026 – Funds managed by alternative asset manager Apollo have agreed to acquire a 40% stake in Canada’s Pembina Gas Infrastructure (PGI) from KKR, Apollo announced on Thursday.

PGI operates 23 gas processing plants, approximately 3,900 kilometres of gathering pipelines and approximately 330,000 bpd of NGL extraction capacity. It has an aggregate processing capacity of 142 mcm (5 bcf) and is one of the largest independent gas processing platforms in Western Canada.

The transaction is expected to close by the end of Q2 2026. Pembina Pipeline Corporation, which manages PGI’s facilities, will maintain its 60% stake in the company.

“PGI is a premier Canadian platform strategically situated at the inlet of the Global Industrial Renaissance, with assets supporting industrial end markets that underpin the energy security of North American economies,” said Apollo partner Scott Browning.

Pembina Pipeline Corporation will continue to operate and manage PGI’s assets and maintain its governance structure following the deal. PGI CEO Heather Christie-Burns said Apollo’s infrastructure expertise makes it “an ideal partner for this next phase.”

Apollo is a global alternative asset manager with approximately USD 938 billion in assets under management as of 2025. The firm holds investments across credit, private equity and infrastructure. Bennett Jones, Vinson & Elkins and Paul, Weiss, Rifkind, Wharton & Garrison served as legal counsel to Apollo, while BMO Capital Markets and RBC Capital Markets served as financial advisors.

Photo courtesy of Pembina Gas Infrastructure