AUSTIN, Texas, Jan. 18, 2022 /PRNewswire/ -- Petros PACE Finance, LLC (or the "Company") today announced the completion of its acquisition by Athene Holding Ltd., positioning the Company to take advantage of the significant tailwinds supporting the rapidly growing commercial PACE industry. Petros PACE Finance, the leading provider of Commercial Property Assessed Clean Energy ("C-PACE") financing to owners and developers of U.S. commercial properties, will continue to be led by its co-founders Mansoor Ghori, Chief Executive Officer, and Jim Stanislaus, Chief Financial Officer, who will retain a minority interest in the Company. The investment in Petros PACE Finance will be managed by the asset management team at Apollo (NYSE: APO), the global alternative asset manager with $481 billion in assets under management.
Petros PACE's acquisition-investment by Athene/Apollo accelerates clean energy financing for commercial real estate."We're thrilled the acquisition is now complete. We can now take advantage of the strategic support and capital from our partners at Apollo and Athene to substantially accelerate our growth trajectory," said Mansoor Ghori, CEO. "Looking ahead, we're especially excited by the synergies with Apollo's leading investment platform to provide financing solutions across the full capital stack. Our ability to bring a broader set of solutions to market helps developers and owners make their buildings more energy efficient and resilient, and meet growing climate change mandates," said Ghori.Petros CFO Jim Stanislaus added, "With our capital partner, Athene, we have the potential to access significant amounts of capital to support our growth. In addition, with Apollo's substantial experience and access to the capital markets, Petros will be able to structure and provide new products to our customers and continue to serve as a partner of choice for all things "green" financing."
