Wes Edens is an American financier and entrepreneur. He is a co-founder of Fortress Investment Group and the chairman of the board at the National Basketball Association franchise, Philadelphia 76ers.

Fortress Energy Apollo Fund LP is a new Delaware-domiciled limited partnership formed by Fortress and Apollo Global Management, LLC. The fund will be a source of capital for Fortress Development Partners, L.P., the general partner of New Fortress Energy Inc.

Fortress Energy Apollo Fund LP announced Wednesday that it had chosen Wes Edens to lead its new company, Fortress Form LNG Venture, as part of its development plans for the company’s proposed LNG terminal in Louisiana.

New Fortress Energy Apollo Fund LP is a joint venture between New Fortress Energy Inc. and affiliates of Apollo Global Management, LLC (NYSE: APO), according to a press statement.

The partnership plans to invest in, acquire, own, and operate midstream energy infrastructure assets in the natural gas industry by forming separate limited partnerships and other direct and indirect legal entities.

New Fortress Energy intends to contribute certain existing assets related to its natural gas business and provide management services to the new entity.

New Fortress Energy has agreed to charter 10 of the 11 vessels in its existing LNG-converted fleet to the joint venture. The joint venture will have a 20-year charter with EDF Energy and a 10-year charter with EDF Trading S.A. for the vessels.

Apollo Global Management will provide the new partnership with senior secured credit facilities totaling $1.65 billion, which will fund 95 percent of the commitment to acquire and operate the midstream assets.

In addition, the partnership will have commitments of $100 million from each party.

“We are pleased to partner with a global leader like Apollo to bring our asset portfolio to market,” New Fortress Energy CEO Peter Rose said in a statement. “The partnership leverages the deep industry expertise of both firms and positions the joint venture to capture the attractive long-term opportunities created by the current oversupply of natural gas.”

Through Formation LNG Venture, Wes Edens is expected to provide professional services to enable Fortress Energy’s representative interest in the project.