KKR to sell its 40% interest in Pembina Gas Infrastructure to Apollo Funds

On April 23, 2026, Apollo announced that Apollo-managed funds agreed to acquire a 40% stake in Pembina Gas Infrastructure Inc. (“PGI”) from funds managed by KKR. Pembina Pipeline Corporation (“Pembina”), which operates and manages PGI’s facilities, will maintain its 60% stake in PGI and the existing governance structure will remain unchanged upon closing.

Since its formation as a joint venture between Pembina and KKR in 2022, PGI has grown into one of the largest independent gas processing platforms in Western Canada.

The transaction is expected to close by the end of the second quarter of 2026, subject to satisfaction of customary closing conditions.

Further information can be found on Globe Newswire’s website.

PGI is a premier gas processing entity in Western Canada with a combined capacity of five billion cubic feet per day. It is strategically positioned to serve customers throughout the Montney and Duvernay trends from central Alberta to northeast British Columbia, operating 23 gas processing plants, approximately 3,900 km of gathering pipelines, and approximately 330,000 barrels per day of NGL extraction capacity.

Apollo is a high-growth, global alternative asset manager. As of December 31, 2025, Apollo had approximately US$938 billion of assets under management.

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions.

Pembina is a leading energy transportation and midstream service provider that has served North America's energy industry for more than 70 years. Pembina owns an extensive network of strategically located assets, including hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure and logistics services, and an export terminals business.