08:34 AM EDT, 10/08/2024 (MT Newswires) -- (Corrects the investment figure in the headline.)

Apollo Global Management ( APO ) has closed a $1.6 billion investment in SCI Capital Partners, the companies said Tuesday.

The deal was described as a structured continuation vehicle transaction in partnership with funds managed by Apollo to support SCI-owned companies Morton Salt and Reddy Ice, which SCI will continue to control.

Apollo funded the transaction with support from a syndicate of new institutional investors, the companies said.

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