Apollo will take a minority equity stake in Mubadala Capital as part of a strategic investment announced by the two firms earlier on Monday.
The stake nears 10% according to CNBC, with Apollo also committing capital across Mubadala Capital’s investment strategies. Mubadala Capital is the alternative asset management arm of Abu Dhabi’s Mubadala Investment Company.
Minority stakeholders
Additional strategic investors will join as minority shareholders, with the group expected to commit an aggregate $5B to those strategies at initial close.
Mubadala Investment Company will remain the majority shareholder, while Apollo will join the founders of Silver Rock Financial as an equity holder.
Mubadala Capital will continue to operate independently under its existing governance structure, with its management team retaining full authority over investment decisions and operations.
Q4 FY26 closure
The transaction is expected to close in the fourth quarter of FY26, subject to regulatory and legal approvals.
“This investment will deepen our alignment and strengthen our mutual commitment to each other’s success,” John Zito, co-president of Apollo Asset Management, said in a statement.
“Apollo has been a trusted partner to Mubadala and across Abu Dhabi for many years, and we look forward to working even more closely with them as a shareholder,” Hani Barhoush, CEO of Mubadala Capital, said in a statement.
AUM in excess of $60B
Founded in 2011, Mubadala Capital manages more than $60B across five investment strategies through its core alternatives business. Including strategic partnerships, the firm manages, advises and administers more than $755B in assets.
Apollo said the investment would help Mubadala Capital broaden its investor base, expand its investment strategies and pursue new opportunities globally.
Apollo had approximately $1.05T in AUM as of June 30, 2026.
The transaction builds on an existing relationship between Apollo and Mubadala Investment Company. According to CNBC, the two institutions established a partnership worth several billion dollars in 2022 which was later extended two years ago.
In 2023, they also established a $2.5B joint venture to co-invest in global private credit markets over five years, CNBC reported.
Goldman Sachs and Jefferies served as financial advisers to Mubadala Capital, with Skadden, Arps, Slate, Meagher & Flom acting as its legal counsel.
Morgan Stanley advised Apollo, while Paul, Weiss, Rifkind, Wharton & Garrison served as its legal counsel.
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