Apollo to acquire minority stake in Mubadala Capital alongside $5bn investment commitment
Apollo Global Management has agreed to acquire a minority stake in Mubadala Capital, the alternative asset management subsidiary of Abu Dhabi sovereign wealth fund Mubadala, as part of a strategic partnership involving approximately $5bn in investment commitments, according to a report by Reuters.
Apollo Global Management has reached an agreement to acquire a minority stake in Mubadala Capital, a subsidiary of Abu Dhabi's sovereign wealth fund, Mubadala, as part of a strategic partnership, according to Reuters. The investment commitment from Apollo is estimated to be around $5 billion, with Apollo reportedly acquiring nearly 10% of Mubadala Capital.
Other strategic investors are also expected to invest, collectively committing up to $5 billion across Mubadala's various investment strategies, helping to grow its investor base and global operations. Mubadala Capital will maintain its independent operations and governance structure post-transaction, with the deal expected to be finalized in the fourth quarter.
Financial advisors for Mubadala Capital included Goldman Sachs and Jefferies, while Morgan Stanley advised Apollo. The agreement strengthens the existing relationship between the firms and follows a trend of growing partnerships between global alternative asset managers and Middle Eastern sovereign wealth funds. Mubadala, which had $385 billion under management at the end of 2025, has been increasing its involvement in private markets, including a $1 billion private credit partnership with Fortress Investment Group announced last year.
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