09:13 AM EDT, 03/19/2025 (MT Newswires) -- Apollo Global Management ( APO ) said Wednesday that funds managed by its affiliates have agreed to acquire a majority stake in OEG Energy Group in a deal with an implied headline valuation of more than $1 billion.

Apollo is acquiring the majority stake from funds managed by the Power Opportunities strategy of Oaktree Capital Management and other investors. Oaktree and others will retain a minority equity interest in OEG, Apollo said.