Apollo announced that Apollo-managed funds (Apollo Funds) have agreed to acquire a majority interest in Stream Data Centers (SDC) 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. 

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.