Apollo Global Management (NYSE:APO) is planning to invest approximately $20 billion in financing infrastructure projects in Mexico, as well as other debt deals, as the firm looks towards new avenues of opportunity for its private credit business.
Apollo has sought to win infrastructure financing mandates by providing quicker deal timelines and more flexible, longer-term loans than traditional banks, sources familiar with the matter told Bloomberg.
Apollo CEO Mark Rowan noted last year that the firm sees potiential in Mexico across a range of borrowers, from small and mid-sized companies to larger investment-grade companies
The firm has already made moves in Mexico, including a $300 million senior secured note offering for a Mexico Infrastructure Partners trust backed by power plants acquired from Iberdrola. The notes mature in 2039, a statement from Cleary Gottlieb noted.
Apollo also helped lead a $1 billion restructuring of Grupo Aeromexico after the airline filed for bankruptcy in 2020, as the pandemic put a squash on travel demand. The firm retained an ownership stake in the company’s IPO last year, Bloomberg noted. Apollo also provided backing for Banca Mifel’s unsuccessful attempt to acquire Citigroup’s Mexican consumer banking business, Banamex, in 2022.
Mexico’s government, led by President Claudia Sheinbaum, has been looking to attract more private investments to help close the country’s infrastructure gap. The push aligns with Apollo’s broader strategy of deploying capital into areas such as digital infrastructure and energy, sectors the firm expects will require trillions of dollars in investment over the coming decades.
As private credit expands into these markets, Apollo is increasingly competing with traditional Wall Street lenders for large-scale financing opportunities.
While Mexico has had a slow-going infrastructure pipeline, investments in areas such as power generation, renewable energy and grid upgrades are beginning to support Sheinbaum’s efforts to strengthen the country’s energy infrastructure.
According to a report from LAVCA, a group that provides data on Latin America’s private capital industry, private credit saw approximately 60 deals totalling $1.1 billion in 2025, compared with 55 deals totalling $2.1 billion in 2024. Three years before that, the total was just $675 million, Bloomberg noted.
Photo: Image by Piotr Swat via Shutterstock
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