Argo Boosts Data Center Bet After Deal to Be Bought by Apollo

Argo Infrastructure Partners is ramping up its bet on data centers after agreeing to be acquired by Apollo Global Management Inc. earlier this year.

The infrastructure investment manager said it’s taking an even bigger share in data center operator TierPoint. Argo, which already had a majority stake in the firm, said it will now own the vast majority of TierPoint’s shares.

The transaction stands to expand Apollo’s reach in data centers. The alternative asset manager struck a deal to buy Argo this year that’s still pending, positioning Apollo to gain a new foothold in AI infrastructure. In August the ...