BAKU, Azerbaijan, September 24. Apollo Global
Management, a major global alternative asset manager and private
equity firm, is discussing large-scale energy projects in
Azerbaijan, said Jamshid Ehsani, Head of Global Principal
Structured Finance at Apollo Global Management.


He made the remarks during the seventh annual Caspian Business
Forum held by the Caspian Policy Center (CPC) in New York.


Ehsani focused on opportunities in critical minerals and energy
infrastructure, as well as the financing structures needed to bring
major projects to fruition.


“Central Asia’s vast critical mineral deposits are precisely
what the Western supply chain needs for digital infrastructure,
green electrification, and defense applications,” Ehsani said.


Ehsani also highlighted Apollo’s developing strategic
partnership with the State Oil Company of Azerbaijan (SOCAR),
noting that discussions are underway to finance large-scale energy
projects in Azerbaijan and internationally. More broadly, he argued
that the challenge is not necessarily a shortage of capital, but
ensuring projects are structured in a way that can attract
appropriate forms of long-term financing.







“The main barrier is not the availability of capital. It is the
right type of capital [and] the right investment structure,” Ehsani
said. “Apollo can play a major role mobilizing long-term insurance
capital with the right structure for the region.”


Ehsani also emphasized the importance of reducing risks that can
prevent capital from reaching projects. “You need to eliminate the
binary aspect of risk. That is super important to make capital
flow,” he said, pointing to transaction structuring and
risk-mitigation mechanisms as tools that can improve the viability
of investments.


In early June, during the Baku Energy Week 2026, SOCAR and
Apollo established strategic cooperation on the TANAP project.
Under the agreement, Apollo acquired a minority, non-controlling
stake in the holding company that owns SOCAR Türkiye’s 7% stake in
TANAP.


The parties also signed a memorandum of understanding on
expanding cooperation in energy financing. The document provides
for increasing existing TANAP financing to $300 million, as well as
exploring financing opportunities for other SOCAR Group assets.