Apollo has agreed to buy a minority equity stake in Mubadala Capital, the alternative asset management arm of Abu Dhabi's Mubadala Investment Company, the two firms said on 26 October 2026. Terms were not disclosed.
Why Apollo (Apollo Global Management) is buying Mubadala Capital (minority equity stake)
Mubadala Capital said the investment is intended to broaden its investor base, expand its strategies and pursue new global opportunities. Apollo said it builds on an existing partnership in which Mubadala has helped seed and scale several Apollo strategies.
“Mubadala has been a trusted partner in seeding and scaling a number of our strategies over the years.”
Deal terms and financing
Apollo and additional minority shareholders are expected to commit a total of US$5bn to Mubadala Capital's investment strategies at initial close. Apollo joins the founders of Silver Rock Financial as an equity holder, while Mubadala Investment Company remains the majority owner and Mubadala Capital's management keeps full authority over investment decisions and operations. CNBC reported the stake at nearly 10%.
Regulatory approvals and timing
The transaction is expected to close in the fourth quarter of 2026, subject to regulatory and legal approvals.
Market context
Mubadala Capital's core alternatives business manages more than US$60bn across five strategies, and more than US$755bn including strategic partnerships, according to the announcement.
