Apollo agrees to buy a minority stake in Mubadala Capital
The companies announced the agreement on October 26 and expect closing in the fourth quarter of 2026, subject to regulatory and legal approvals.
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The companies announced the agreement on October 26 and expect closing in the fourth quarter of 2026, subject to regulatory and legal approvals.
US asset manager Apollo Global Management has agreed to buy a 10% stake in Abu Dhabi-based investment manager Mubadala Capital for just over $1 billion, Fortune said in its October 28 newsletter. The purchase would make Apollo a shareholder in a firm it already partners with.
Mubadala Capital and Apollo announced the minority-stake agreement on October 26. The purchase concerns Mubadala Capital, the investment-management subsidiary of Mubadala Investment Company, a sovereign investor managing money for Abu Dhabi’s government.
The share purchase is distinct from money intended for investments managed by Mubadala Capital. The companies expect Apollo and other strategic investors joining as minority shareholders to commit a combined $5 billion to those investment strategies at initial closing. That figure is not Apollo’s purchase price for its ownership stake.
The companies have not named the additional strategic investors or disclosed how the prospective $5 billion would be divided among them and Apollo.
Mubadala Capital and Apollo say the investment will help Mubadala Capital broaden its investor base, expand its investment strategies and pursue opportunities globally. Apollo says the closer partnership will also create opportunities for it to reach a broader global investor base.
If the deal closes, Mubadala Investment Company will remain the majority shareholder, the companies say. Mubadala Capital will continue operating independently with its own governance structure, and its existing management will retain full authority over investment decisions and operations.
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Apollo and Mubadala Investment Company established a multibillion-dollar partnership in 2022 to develop investment opportunities. On November 11, 2024, they announced a multiyear extension to support private debt and equity financing—loans and ownership investments arranged outside public markets.
The next step is completion of the share transaction. Mubadala Capital and Apollo expect it to close in the fourth quarter of 2026, subject to regulatory and legal approvals.
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