Key insights
- Apollo Global Management (APO) has agreed to acquire a minority equity stake in Mubadala Capital, the alternative asset management arm of Abu Dhabi's Mubadala Investment Company, in a deal valued at $5 billion. The transaction, expected to close in late 2026, will see Apollo and other investors commit $5 billion to Mubadala Capital's strategies. Mubadala Capital will continue to operate independently with its existing management team. This strategic investment is expected to bolster Mubadala Capital's growth trajectory.
Apollo (APO) has agreed to take a minority equity stake in Mubadala Capital, the alternative asset management arm of Abu Dhabi’s Mubadala Investment Company, with the transaction expected to close in the fourth quarter of 2026, subject to regulatory and legal approvals.
As part of the deal, Apollo and additional unnamed strategic investors will collectively commit an aggregate of $5 billion to Mubadala Capital’s investment strategies at initial close. The founders of Silver Rock Financial will also join as equity holders alongside Apollo. Mubadala Investment Company will remain the majority shareholder.
Founded in 2011, Mubadala Capital manages over $60 billion across five investment strategies, including private equity, credit, venture capital, and special opportunities with a focus on Brazil. The firm also manages and administers over $755 billion in assets through strategic partnerships.
Mubadala Capital said it will continue to operate independently following the transaction, with its existing management team retaining authority over investment decisions and operations.
Hani Barhoush, CEO of Mubadala Capital, said: "Apollo is one of the most respected institutions in our industry, and their confidence in what we are building reflects the strength of the platform we’ve created and the trajectory we are on."
John Zito, Co-President of Apollo Asset Management, said: "With a talented team, a highly complementary global network and real momentum across its investment strategies, Mubadala Capital is well positioned for its next phase of growth."
Goldman Sachs & Co. LLC and Jefferies LLC served as financial advisors to Mubadala Capital, with Skadden, Arps, Slate, Meagher & Flom LLP as legal counsel. Morgan Stanley & Co. LLC advised Apollo, with Paul, Weiss, Rifkind, Wharton & Garrison LLP serving as legal counsel.
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