ONEOK, Inc. announced the closing of a previously announced $9 billion minority equity investment by funds and affiliates managed by Apollo. Under the terms of the agreement, Apollo invested $9 billion in exchange for a nonvoting Class B minority interest in a newly formed holding company, ONEOK Holdings, L.L.C., which is structurally subordinate to the company's debt. The minority equity investment has been reviewed with ONEOK's credit rating agencies, all of which consider the transaction credit-enhancing. ONEOK is a leading midstream operator with an approximately 60,000-mile pipeline network, and Apollo had approximately $1.05 trillion of assets under management as of June 30, 2026.
ONEOK IncONEOK closes a $9 billion minority equity investment from Apollo that rating agencies view as credit-enhancing.
Apollo Global Management LLC Class AApollo funds deploy a $9 billion minority equity investment into ONEOK Holdings, a major capital commitment.
