Apollo has announced that its funds will acquire a majority stake in OEG Energy Group, a provider of offshore energy solutions, from Oaktree Capital Management and other investors. The deal values OEG at over $1 billion, with Oaktree retaining a minority stake.

OEG operates a global fleet of 75,000+ cargo carrying units and provides services to both oil & gas and offshore wind markets. Apollo sees strong growth potential in OEG as energy transition investments expand. The transaction, subject to regulatory approvals, is expected to close in Q2 2025.