Marc Rowan on why Apollo has taken a $1 billion stake in Mubadala Capital
Apollo Global Management has invested more than $1 billion in Mubadala Capital as it aims to boost the Abu Dhabi sovereign wealth fund's expansion in North America, Apollo's chief executive has said. The investment, which gives New York-based Apollo a 10 per cent stake in Mubadala Capital, is part of its strategy to partner with "other like-minded asset managers who we respect and have economic…
Apollo Global Management has recently invested over $1 billion in Mubadala Capital, an Abu Dhabi sovereign wealth fund, in order to support the expansion of the fund in North America, according to its CEO Marc Rowan. This significant investment gives Apollo a 10% stake in Mubadala Capital, and is part of Apollo's strategy to collaborate with other respected asset managers that share similar economic goals.
Rowan expressed his admiration for Mubadala's progress among sovereign funds in establishing its own asset manager and highlighted how the investment can help accelerate Mubadala's growth, particularly in North America. The CEO also mentioned that Apollo plans to increase its investment in the UAE, emphasizing that its competition with Mubadala is "healthy."
The relationship between Apollo and Mubadala has been growing over the years, with previous joint ventures and financing partnerships. This strategic partnership is part of Abu Dhabi's sovereign investor's efforts to strengthen its global investment network and nurture relationships with major international asset managers.
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- Apollo takes stake in Abu Dhabi’s Mubadala Capital semafor.com
- Marc Rowan on why Apollo has taken a $1 billion stake in Mubadala Capital thenationalnews.com
- Apollo is buying a nearly 10% stake in Mubadala Capital, an Abu Dhabi asset manager qz.com
- Mubadala Capital secures $5bn investment from Apollo and strategic partners arabianbusiness.com
