Apollo takes stake in Abu Dhabi’s Mubadala Capital
The US investing giant’s deal is the latest Wall Street bet that Gulf capital remains a crucial part of global finance.
Apollo Global Management is increasing its involvement with Abu Dhabi's Mubadala Capital, an alternative-asset management arm of the Abu Dhabi sovereign wealth fund. The US firm will acquire a minority stake in Mubadala Capital and inject an additional $5 billion into its investment strategies. Mubadala Capital, known for its aggressive investment approach, manages approximately $60 billion in assets under its core alternatives business.
This deal marks a significant step for Apollo, as it joins other investors like Silver Rock in supporting Mubadala Capital. The move underscores the growing appeal of Abu Dhabi's wealth to prominent Wall Street investors, even amidst the ongoing Iran conflict. Abu Dhabi is home to several sovereign wealth funds, collectively managing a staggering $1.8 trillion in assets.
Written by urgent.news from Semafor's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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