**Apollo to Acquire Majority Stake in Stream Data Centers**
Apollo announced Wednesday that it has entered into an agreement to acquire a majority interest in Stream Data Centers (SDC) from Stream Realty Partners through funds managed by Apollo. While financial terms were not disclosed, the acquisition positions SDC to advance a multi-gigawatt development pipeline, enabling Apollo Funds and affiliates to potentially invest billions into next-generation digital infrastructure. SDC’s management team will retain a minority stake and continue to lead the business.
Based in Dallas, Stream Data Centers specializes in building, leasing, managing, and operating hyperscale data center campuses. The company has delivered more than 20 such campuses to date. Backed by Apollo’s capital and strategic resources, SDC plans to expand its operations to meet growing demand from hyperscale cloud and AI providers, particularly in key Tier 1 and Tier 2 U.S. markets.
“Apollo’s investment in Stream Data Centers represents a landmark digital infrastructure transaction for us,” said Joseph Jackson and Trevor Mills, Partners at Apollo. “With deep development expertise and a valuable long-term land fund in key growth markets, we believe SDC is uniquely positioned to serve the infrastructure needs of the world’s most sophisticated technology customers.”
Since 2022, Apollo-managed funds have invested approximately $38 billion in next-generation infrastructure across sectors such as renewable energy, digital platforms, and computing capacity. The firm intends to scale these investments significantly in the coming years.
As part of this transaction, Apollo Funds and Stream Realty Partners will commit new capital to an existing land fund managed by SDC, accelerating site development for up to 650 megawatts of near-term power capacity across campuses located in metro Chicago, Atlanta, and Dallas. A newly formed Apollo subsidiary will serve as investment manager of the land fund.
Goldman Sachs served as the sole financial advisor to Stream Data Centers. Akin Gump Strauss Hauer & Feld LLP provided legal counsel. Moelis & Company advised Apollo Funds, with legal counsel from Latham & Watkins LLP. The transaction is expected to close later in 2025.
*Pictured: SDC’s Wilmer II Hyperscale Campus, currently under development in Wilmer, Texas.*
