Asset management firms Apollo and KKR are commencing a strategic partnership to support the continued growth of Atlantic Aviation, one of the largest private aviation infrastructure platforms in the US. Under the transaction, Apollo-managed funds have acquired a significant interest in the company, while KKR-managed funds remain a substantial shareholder. The transaction values Atlantic Aviation at nearly $10 billion. KKR purchased Atlantic Aviation from Macquarie Infrastructure Corporation in 2021 for $4.475 billion.

Atlantic Aviation is one of the leading providers of FBO services in the US, with locations across the country serving corporate and general aviation customers. The company provides mission-critical infrastructure including aircraft fuelling, hangar leasing and other essential aviation services, supported by long-term airport concession agreements and a highly diversified footprint across high-activity airfields.

Apollo partner David Cohen says: “Atlantic has built an irreplicable infrastructure footprint across the nation's busiest airports, underpinned by long-term concession agreements and a customer base that values reliability and service above all else. The private aviation market has structural tailwinds that we believe will persist, and Atlantic is well positioned to capture that growth. We look forward to working closely with Jeff, the entire Atlantic team and KKR to build on its momentum through targeted investment and strategic new market expansion.”

KKR partner Dash Lane adds: “Atlantic Aviation exemplifies the kind of scaled, essential infrastructure platform we seek to build in our portfolio. Over the past five years, we have worked closely with Jeff and the team to expand and strengthen the business, and we believe there is meaningful opportunity ahead. Our continued support of the company reflects our conviction in both the strength of the platform and the long-term growth of the sector, and we are pleased to welcome the Apollo Funds as new investors in the company.”

Since KKR's acquisition in 2021, Atlantic has meaningfully expanded its locations through strategic acquisitions and organic growth throughout the United States and certain international locations, while enhancing its customer offerings and operational capabilities. KKR has also supported significant investment in employee health and safety, resulting in Atlantic having one of the best safety records in the industry.

“This transaction is more than a milestone for Atlantic, it is a powerful validation of what our people have built together. To have two of the world's most respected investment firms choose to invest in our company is an extraordinary endorsement of our people, our performance and our potential. We are incredibly proud of what we have accomplished and even more excited about what comes next,” confirms Jeff Foland, CEO, Atlantic Aviation.

Over the past five years, Apollo has originated more than $155 billion of infrastructure transactions and financings across energy, transportation, digital and industrial sectors. Apollo Infrastructure Group represents a key growth vertical for Apollo as it continues to deploy flexible, large-scale capital solutions across essential infrastructure assets.

KKR's infrastructure business has been investing globally for nearly two decades and today manages more than $120 billion in infrastructure assets. Since 2015, KKR has invested more than $12 billion across the aviation sector. KKR is funding its investment primarily through its infrastructure vehicles.