NEW YORK and HOUSTON, Aug.  03, 2026  (GLOBE NEWSWIRE) -- Apollo (NYSE:APO) today announced that Apollo-managed funds (&#34;Apollo Funds&#34;) have acquired Maverick Water Group (&#34;Maverick&#34; or the

Apollo Funds Acquire Maverick Water Group

Apollo expands water-infrastructure platform with Maverick Water Group acquisition

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>NEW YORK and HOUSTON, Aug.  03, 2026  (GLOBE NEWSWIRE) -- Apollo (NYSE:APO) today announced that Apollo-managed funds (&amp;#34;Apollo Funds&amp;#34;) have acquired Maverick Water Group (&amp;#34;Maverick&amp;#34; or the</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Apollo Funds acquire Maverick Water Group, expanding its water infrastructure platform and near-term pipeline. Maverick&#039;s management retains a minority stake and will continue operating in Texas, aligning with Apollo&#039;s focus on resilient, long-term infrastructure assets. Apollo has deployed over $130B in infra investments in five years and manages about $1.03T AUM as of March 31, 2026.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Apollo Funds acquire Maverick Water Group from Crosstimbers. Maverick&#039;s management retains a minority stake.</li><li>Maverick develops non-potable water systems across Texas. Growth pipeline expected.</li><li>Apollo-managed funds aim to scale platform and near-term infrastructure demand.</li><li>AUM remains around $1.03T; &gt;$130B deployed in 5 years.</li><li>Deal date Aug 3, 2026; no price disclosed.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Maverick Water Group (PRIVATE)</strong>: Houston-based developer/owner/operator of non-potable water systems; acquired by Apollo; minority stake retained.</li><li><strong>Crosstimbers Capital Group (PRIVATE)</strong>: Seller; Houston-based; received capital via transaction; supports formation of scalable platforms.</li><li><strong>Apollo Global Management (APO)</strong>: Acquirer; expanding infrastructure platform; AUM around $1.03T; infra deployment &gt;$130B in 5 years.</li><li><strong>Guggenheim Securities (PRIVATE)</strong>: Financial advisor to Maverick in connection with the transaction.</li><li><strong>Latham &amp; Watkins (PRIVATE)</strong>: Legal counsel to Crosstimbers on the transaction.</li><li><strong>Vinson &amp; Elkins (PRIVATE)</strong>: Legal counsel to Apollo Funds on the transaction.</li></ul>
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  <section data-block="category">
    <h3>M&amp;A</h3>
    <p>Category: M&amp;A; This is a corporate development deal expanding APO&#039;s infrastructure platform and asset base in water resilience assets.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Apollo&#039;s Maverick acquisition expands its Texas water-infrastructure platform, signaling scale expansion.</li><li>Near-term project pipeline and contracted assets may enhance future fee generation.</li><li>Transaction details like pricing were not disclosed in the release.</li><li>Deal underscores Apollo&#039;s continued appetite for resilient infrastructure assets.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Date of release: Aug 3, 2026.</li><li>Maverick founded in 2018; Houston-based.</li><li>Apollo Funds deployed &gt;$130B in infra investments over past 5 years.</li><li>Apollo AUM: ~$1.03T as of Mar 31, 2026.</li><li>Maverick acquired from Crosstimbers; management retains minority stake.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Long-term bullish for APO as infrastructure platform scales; 6–12 months to reflect growth metrics.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p>NEW YORK and HOUSTON, Aug.  03, 2026  (GLOBE NEWSWIRE) -- Apollo (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/APO">APO</a>) today announced that Apollo-managed funds ("Apollo Funds") have acquired Maverick Water Group ("Maverick" or the "Company"), a Houston-based developer, owner and operator of alternative non-potable water systems that serve communities across Texas, from funds managed by Crosstimbers Capital Group ("Crosstimbers"). Maverick’s management team retains a minority stake and continues to operate the Company.</p>  <p>Founded in 2018, Maverick develops alternative water system assets, purpose-built in partnership with real estate development and industrial customers to support reliable non-potable water supply. With Apollo Funds’ support, the Company plans to continue scaling its platform and its significant near-term pipeline to meet accelerating demand for efficient, sustainable water infrastructure.  </p>  <p>"Maverick has built a differentiated platform delivering long-term water solutions across some of the country’s fastest-growing markets," said Jon Levinson, Managing Director, in Apollo’s Infrastructure Group. "Bringing to bear the scale of our infrastructure platform and deep industry expertise, we look forward to partnering with Maverick&#39;s highly experienced team to support the Company and its customers through this next phase of growth."  </p>  <p>"We built Maverick to deliver reliable water solutions in regions where they are increasingly important, and we’re proud of the platform and the reputation our team has established," said Dustin Kinder, Chief Executive Officer of Maverick Water Group. "Apollo shares our long-term vision for the business, and its partnership will enable us to continue investing in the innovative solutions our customers have come to expect from us. We&#39;re excited about what we can accomplish together in this next chapter, and we&#39;re grateful to the Crosstimbers team for all their support."</p>  <p>"Resilient infrastructure, innovation, and stronger alignment with companies are all important elements of flourishing communities. That’s the belief we founded Maverick on," said Trevor Brock, Co-founder and Managing Partner of Crosstimbers. "Dustin, Ben, and the team have built an exceptional business around it, with a culture to match. We’re grateful for their partnership and excited to watch Maverick continue to grow with Apollo."</p>  <p>Apollo Funds have deployed more than $130 billion<sup>1</sup> across infrastructure and infrastructure-related investments over the past five years, as the Global Industrial Renaissance continues to drive demand for modern and resilient physical infrastructure.</p>  <p>Guggenheim Securities acted as financial advisor to Maverick in connection with the transaction. Latham &amp; Watkins LLP served as legal counsel to Crosstimbers on the transaction. Vinson &amp; Elkins LLP served as legal counsel to Apollo Funds on the transaction.</p>  <p><em><sup>1 </sup>The deployment, commitment, or arrangement of capital into infrastructure investments is commensurate with Apollo’s proprietary Infrastructure Investment Classification Framework and Calculation Methodology (the "Methodology"). The Methodology, which is subject to change at any time without notice, sets forth certain categories of investments classified by Apollo as infrastructure investments. Only investments determined to be aligned with one or more categories of infrastructure investment in accordance with the Methodology are counted toward the deployment, commitment, or arrangement of capital. Under the Methodology, Apollo uses different calculation methodologies for different types of asset classes. For additional details on the Methodology, please refer to our website.</em></p>  <p><strong>About Apollo</strong><br></br>Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2026, Apollo had approximately $1.03 trillion of assets under management. To learn more, please visit <a href="https://www.globenewswire.com/Tracker?data=xfFWosolfaW3E_qaqrQ1R_MqOigdclbq69ba3Ncanuk_IOaRKiv_Yp7dQzdiUsO9-TaMX68bCpwb_WJwPEmgX2SxoZNRDOVZlrL-hW7x6pGAsCqth0WVpWs-xgEtubDgifNR4m9vJOIzuABGBUBvlmqaEVBgeSthOwiuBRv97C9YxwGDzqr56ds5nhSgfduGxw3IeIPsem-2GXpXeGpNVWoHWV_1ng9o_Z_QCUQAzw8=" rel="nofollow" target="_blank">www.apollo.com</a>.</p>  <p><strong>About Maverick Water Group</strong><br></br>Founded in 2018 and headquartered in Houston, Texas, Maverick Water Group develops, owns and operates alternative water systems that deliver non-potable water to communities and data centers, industrial, energy and real estate customers across Texas. Through purpose-built, long-term contracted infrastructure, Maverick helps reduce costs and preserve scarce potable water supply in the nation’s fastest-growing regions.</p>  <p><strong>About Crosstimbers Capital Group</strong><br></br>Based in Houston, Texas, Crosstimbers Capital Group provides formation capital to scalable platform companies that acquire, develop, and operate hard assets. For more information, visit <a href="https://www.globenewswire.com/Tracker?data=LKK1FGdv-YvX0ct3cwkM9AWwUWXVXxPDckXTm8JtrCezT3KWNy-gDWCNUYVdAdfTUCfgp7p4Ios8wNPSSL9Rszaa_wl7cOXhwPuNcER9n_eYeRAi3-vTdNcJppsVR0lGoHJhzGF62knSLS2o2BVe8vX-iw9VCUWKbSlJ5wEFdRUw_9oxuehIpZ10R36WJr6WILTqnwJ6cq__8K51_wHGuPl32ENxLchCGZflvkVTn38ng3Rs6iTn8dLepo6mV8Sf4APORt-6QyQnOvholUrphQdRBn4QsTeojDD-OxH5kJCH2IFkBaeAMVIi1U4t1Pqnj-kc0gwuU_vkAi4ILEJjMF-6eTXAgTX05ILRkgiu2Q8=" rel="nofollow" target="_blank">www.crosstimbers.com</a>.</p>  <p><strong>Contacts</strong><br></br></p>  <p>Noah Gunn<br></br>Global Head of Investor Relations<br></br>Apollo Global Management, Inc.<br></br>(212) 822-0540<br></br><a href="https://www.globenewswire.com/Tracker?data=GPTiil89ifipZrKGp-nNvXcGxl3WIBcxd7fpoDlfVTSG-13WeMt8QYqE9fiBbVZesYsklFQEmAN4ycE0-1jbzBJ-DfpUEtR_ZpBJSsDO5bRnYCTB2TlrBkBNwoF6KYlZxSrOzCFJVzRpYRhNezveICLxBYkGzwOsiGYOal41qAw5dwofDvDgVYppKYQAOsafmctudvelUzJauuAT92adBF9kc08hfewJ9U390m4ADik=" rel="nofollow" target="_blank">IR@apollo.com</a></p>  <p>Joanna Rose<br></br>Global Head of Corporate Communications<br></br>Apollo Global Management, Inc.<br></br>(212) 822-0491<br></br><a href="https://www.globenewswire.com/Tracker?data=AtedJ6hnkmSGyA_44W5ocV107KcEl2eyPFEdHeugnk3KusQTY4yzq-UApLu7pgDMsZ-Yysq0-YyWPgRqy6sobim8klzwiwq0ucsMZDlNkwq7B5kVNbH4sFKOK5bkX_F85E2-Y7ZGk2U9zAYCm-tRmPihUF7d_8mdli-U4aHvB1UXe76h1SMGXOKGSPgDs7eSNVqNWUKBR1ppR3pamJXLB_KD8AWCOgfimQpKian4tn7zH5jLih2R4om4gqLFSvP-4eBbGxd0NRwhjsbNKZ-2QZUOzBRnweRXLJ25Dvz12iY=" rel="nofollow" target="_blank">Communications@apollo.com</a></p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTgwMjc0MSM3NzU2MjY1IzIwMDkxNzM="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/OGJiNjdkOTMtYTdjNi00ZWVmLWJkYzgtMjIyNmZmNDIwY2Q1LTEwMjA3NDYtMjAyNi0wOC0wMy1lbg==/tiny/Apollo-Global-Management-Inc-.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/24205df4-cb1e-4a5f-89c1-5ebcc2e59b81"><img src="https://ml.globenewswire.com/media/24205df4-cb1e-4a5f-89c1-5ebcc2e59b81/small/apollo-logo-ctr-rgb-pos-xl-png.png" border="0" width="150" height="23" alt="Primary Logo"></img></a></p>

Apollo Funds acquire Maverick Water Group, expanding its water infrastructure platform and near-term pipeline. Maverick's management retains a minority stake and will continue operating in Texas, aligning with Apollo's focus on resilient, long-term infrastructure assets. Apollo has deployed over $130B in infra investments in five years and manages about $1.03T AUM as of March 31, 2026.

News insight

Apollo Funds Acquire Maverick Water Group

AI summary

Sentiment rationale

Key facts

M&A