Apollo Global Management is finalising a deal to buy nearly 10 percent of Mubadala Capital, the alternatives arm of Abu Dhabi sovereign investor Mubadala Investment Company, CNBC reported on Monday, citing people familiar with the matter. The transaction had not been announced when the report was published, an announcement was expected later on Monday, and financial terms were not known. Mubadala Capital, led by chief executive Hani Barhoush, says it manages, advises and administers more than $755 billion in assets, with its wholly owned core alternatives businesses managing more than $60 billion. Apollo and Mubadala already run a multibillion-dollar partnership first established in 2022, including a $2.5 billion joint venture formed in 2023 to co-invest in global private credit over five years.
Apollo finalising near 10 percent stake in Mubadala Capital
Apollo Global Management is finalising a purchase of nearly 10 percent of Mubadala Capital, the alternative asset management arm of Abu Dhabi's Mubadala Investment Company, in a deal expected to be announced later on Monday with financial terms not yet known.
Why it matters: A US manager buying into Abu Dhabi's own asset manager reverses the usual direction of Gulf capital flows, and it deepens a partnership that already includes a $2.5 billion private credit co-investment venture set up in 2023.
Data as of CNBC report of October 26, 2026, read in full in this run. The report rests on unnamed people familiar with the matter; the transaction had not been publicly announced when reported, financial terms were not known, and spokespeople for both firms declined to comment, so the item is carried at grade C. Asset figures are Mubadala Capital's own as reported by CNBC. Developing item.