Apollo Raises $2.5 Billion for Its Second Infrastructure Fund

Apollo Global Management Inc. raised $2.54 billion for its second infrastructure fund, as investor appetite for the asset class proliferates.

“This is an incredibly exciting time to invest in infrastructure assets,” Geoff Strong, Apollo’s co-head of infrastructure and natural resources, said in an emailed statement, adding that the firm expects to invest in areas such as the global energy transition. “We continue to differentiate ourselves in the market by focusing on scalable acquisitions in the middle market, structured solutions, and carve-out opportunities.”

The vehicle, known as Apollo Infrastructure Opportunities Fund II LP, aims to make investments in ...