Enbridge has entered a C$2.7 billion joint venture with KKR and Apollo to fund the expansion of its Westcoast natural gas pipeline in British Columbia. Under the deal, KKR and Apollo will acquire a 29% indirect interest in the network upon completion of the Sunrise project in 2028. Enbridge retains operational control, majority ownership and an option to repurchase the stake after seven years.
Realty Income and Apollo have entered a $1.0 billion strategic partnership. Apollo will acquire a 49 per cent stake in a joint venture featuring 500 US retail properties. This deal forms the cornerstone of Realty Income’s new private capital initiative, providing a scalable source of equity independent of public markets. The arrangement has received permanent equity treatment from major rating agencies and is scheduled to close at the end of March.
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