Apollo and KKR form partnership around Atlantic Aviation at ~$10B value

Apollo (NYSE: APO) and KKR (NYSE: KKR) announced a strategic partnership to jointly hold stakes in Atlantic Aviation, with the transaction valuing the private aviation services company at nearly $10 billion.

Under the terms of the deal, Apollo-managed funds acquired a significant interest in Atlantic Aviation, while KKR-managed funds retained a substantial shareholding. KKR originally acquired Atlantic Aviation in 2021.

Atlantic Aviation operates as a fixed-base operator (FBO), providing aircraft fueling, hangar leasing, and other aviation services at locations across the United States and certain international markets. The company holds long-term airport concession agreements with a range of corporate and general aviation customers.

Apollo Partner David Cohen said the company has "built an irreplicable infrastructure footprint across the nation's busiest airports, underpinned by long-term concession agreements," and that Apollo looks forward to pursuing "targeted investment and strategic new market expansion."

KKR Partner Dash Lane noted that over the past five years, KKR worked with Atlantic's management team to expand and strengthen the business, adding that the firm sees "meaningful opportunity ahead."

Atlantic Aviation CEO Jeff Foland described the transaction as "a powerful validation of what our people have built together."

Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to the Apollo funds. Evercore and Morgan Stanley & Co. LLC acted as financial advisors to KKR, with Kirkland & Ellis serving as KKR's legal advisor.

Apollo reported approximately $1.05 trillion in assets under management as of June 30, 2026. KKR's infrastructure business manages more than $120 billion in infrastructure assets and has invested more than $12 billion in the aviation sector since 2015.

You May Also Be Interested In

• Apollo Funds and KKR Announce Strategic Partnership to Support Atlantic Aviation’s Continued Growth
• Enbridge forms C$2.7B joint venture with KKR and Apollo
• Foremost Clean Energy stake in Rio Grande drops below 10%