Key Takeaways
- • Apollo Global Management (NYSE: APO) will take a minority equity stake in Mubadala Capital, the alternative asset management arm of Mubadala Investment Company, and commit capital across its investment strategies.
- • Mubadala Capital, with a core alternatives business managing over $60 billion across five investment strategies, is expected to receive an aggregate $5 billion in commitments from Apollo and other strategic minority investors at initial close.
- • Mubadala Investment Company remains the majority shareholder, and Mubadala Capital will retain its own governance structure and management authority over investment decisions.
- • The transaction is expected to close in the fourth quarter of 2026, subject to regulatory and legal approvals.
Summary
Mubadala Capital, the alternative asset management arm of Mubadala Investment Company, announced a strategic investment from Apollo Global Management (NYSE: APO) aimed at supporting the firm's next phase of growth. Under the deal, Apollo will take a minority equity stake in Mubadala Capital and commit capital across its various investment strategies, building on an existing relationship between the two firms.
According to the company's announcement, Mubadala Capital was founded in 2011 and has grown into a next-generation alternative asset manager with a core alternatives business managing over $60 billion across five investment strategies. The firm describes its platform as spanning private equity (with a focus on Brazil), special opportunities, credit, venture capital, and Solutions and co-investment platforms, alongside strategic businesses and partnerships in private wealth, public credit, insurance, and real estate. The company states it has more than 250 professionals across offices in Abu Dhabi, London, New York, Rio de Janeiro, and San Francisco. The announcement also states that Mubadala Capital manages, advises and administers over $755 billion in assets for clients and limited partners through its core alternatives business and strategic partnerships.
Additional strategic investors will also join as minority shareholders. Together with Apollo, these investors are expected to commit an aggregate of $5 billion to Mubadala Capital's investment strategies at initial close. Apollo's investment is intended to help the firm broaden its investor base, expand its strategies and pursue new opportunities globally.
Hani Barhoush, CEO of Mubadala Capital, said the partnership "accelerates" the firm's ambition to connect global capital with differentiated private market opportunities. John Zito, Co-President of Apollo Asset Management, described Mubadala as a trusted partner in seeding and scaling a number of Apollo's strategies and said the investment reflects Apollo's conviction in Mubadala Capital's business. Apollo joins the founders of Silver Rock Financial as an equity holder. Mubadala Investment Company remains the majority shareholder.
Following the addition of new equity shareholders, Mubadala Capital will continue to operate independently, maintain its own governance structure, and retain its existing management team's full authority over investment decisions and operations. The transaction is expected to close in the fourth quarter of 2026, subject to regulatory and legal approvals. 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 served as financial advisor to Apollo, with Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal counsel. Apollo reported approximately $1.05 trillion in assets under management as of June 30, 2026.
According to the company's announcement, Mubadala Capital was founded in 2011 and has grown into a next-generation alternative asset manager with a core alternatives business managing over $60 billion across five investment strategies. The firm describes its platform as spanning private equity (with a focus on Brazil), special opportunities, credit, venture capital, and Solutions and co-investment platforms, alongside strategic businesses and partnerships in private wealth, public credit, insurance, and real estate. The company states it has more than 250 professionals across offices in Abu Dhabi, London, New York, Rio de Janeiro, and San Francisco. The announcement also states that Mubadala Capital manages, advises and administers over $755 billion in assets for clients and limited partners through its core alternatives business and strategic partnerships.
Additional strategic investors will also join as minority shareholders. Together with Apollo, these investors are expected to commit an aggregate of $5 billion to Mubadala Capital's investment strategies at initial close. Apollo's investment is intended to help the firm broaden its investor base, expand its strategies and pursue new opportunities globally.
Hani Barhoush, CEO of Mubadala Capital, said the partnership "accelerates" the firm's ambition to connect global capital with differentiated private market opportunities. John Zito, Co-President of Apollo Asset Management, described Mubadala as a trusted partner in seeding and scaling a number of Apollo's strategies and said the investment reflects Apollo's conviction in Mubadala Capital's business. Apollo joins the founders of Silver Rock Financial as an equity holder. Mubadala Investment Company remains the majority shareholder.
Following the addition of new equity shareholders, Mubadala Capital will continue to operate independently, maintain its own governance structure, and retain its existing management team's full authority over investment decisions and operations. The transaction is expected to close in the fourth quarter of 2026, subject to regulatory and legal approvals. 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 served as financial advisor to Apollo, with Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal counsel. Apollo reported approximately $1.05 trillion in assets under management as of June 30, 2026.
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