Funds managed by Apollo agreed on 23 April to acquire a 40% interest in Pembina Gas Infrastructure, the western Canadian gas gathering and processing business, from funds managed by KKR. Terms were not disclosed.
Why Apollo funds is buying Pembina Gas Infrastructure Inc. (40% stake)
Apollo said PGI offered a compelling opportunity to grow alongside rising gas production and demand in western Canada. PGI's chief executive said Apollo's infrastructure expertise and long-term orientation made it the right partner for the next phase, while KKR said its investment thesis had been realised.
Deal terms and financing
Pembina Pipeline retains its 60% stake and continues to operate and manage PGI's facilities, and the existing governance arrangements remain in place after closing.
Regulatory approvals and timing
Completion was expected by the end of the second quarter of 2026, subject to customary conditions. No completion announcement was found in the sources reviewed by October 2026.
Market context
PGI was created in 2022 as a joint venture combining Pembina's and KKR's gas processing assets. It operates 23 gas processing plants, about 3,900km of gathering pipelines and about 330,000 barrels a day of NGL extraction capacity, serving producers from central Alberta to north-east British Columbia.
