Transactions

Sep 10, 2026

RBC Capital Markets acts as sole financial advisor to Apollo on its $9 billion strategic investment in ONEOK

TULSA, Okla., Sept. 10, 2026 (GLOBE NEWSWIRE) - ONEOK, Inc. today announced the closing of the previously announced $9 billion minority equity investment by funds and affiliates managed by Apollo.

Under the terms of the agreement, Apollo has 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.