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Oaktree and others will retain a minority equity interest in the company following the deal closure, expected in the second quarter of 2025.
Shares of global alternative asset manager Apollo (APO) rose over 3% on Wednesday after the company announced that funds managed by its affiliates would acquire a majority stake in OEG Energy Group from funds managed by the Power Opportunities strategy of Oaktree Capital Management, LP, and other investors.
Apollo said the transaction has a headline valuation of over $1 billion for OEG. Following the deal, Oaktree and others will retain a minority equity interest in the company.
The transaction is expected to close in the second quarter (Q2) of 2025.
OEG provides an offshore energy ecosystem, delivering development and operations solutions to oil, gas, and wind end markets.
Apollo partner Wilson Handler said that his firm sees a tremendous opportunity to invest in the company’s future growth as secular tailwinds drive demand for services enabling efficient energy production and renewable power.
Last month, Apollo said it would acquire Bridge Investment Group Holdings Inc. (BRDG) in an all-stock transaction with an equity value of approximately $1.5 billion.
Bridge manages approximately $50 billion of high-quality assets under management in real estate products, targeting both institutional and wealth clients.
The deal is expected to provide Apollo with immediate scale to its real estate equity platform and enhance its origination capabilities in real estate equity and credit. The company said this will benefit its hybrid and real estate product offerings.
The transaction is expected to close in the third quarter (Q3) of 2025, and upon closing, shares of Bridge common stock will no longer be listed on the New York Stock Exchange.
Meanwhile, on Stocktwits, retail sentiment climbed into the ‘bullish’ territory (72/100) from ‘neutral’ a day ago.
APO shares have lost over 14% in 2025 but have gained over 28% in the past 12 months.
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