Overview
- Multiple outlets report Apollo is finalizing a purchase of almost 10% of Mubadala Capital with an announcement expected imminently and financial terms not yet disclosed.
- Those reports rely on people familiar with the matter and say spokespeople for both firms declined to comment on the deal.
- Mubadala Capital advises and administers roughly $755 billion in assets and its core alternatives business has grown to more than $60 billion, figures the company has publicly provided.
- The transaction builds on a long-running partnership between Apollo and Mubadala that began with a multibillion-dollar alliance in 2022, was extended in 2024, and included a $2.5 billion private credit joint venture in 2023.
- Reporting says Apollo will join other outside backers and commit new capital to Mubadala Capital’s strategies, a move that could give Apollo deeper access to Gulf capital and help Mubadala broaden its investor base and global distribution.