One of the world’s largest alternative asset managers, Apollo is investing over $1 billion into Mubadala Capital. The New York-based firm, managing approximately $1 trillion in assets, will acquire a 10% minority stake in the Abu Dhabi asset manager, according to Apollo CEO Marc Rowan. As part of the deal, Apollo and additional co-investors will commit $5 billion to Mubadala Capital's investment strategies, backing a platform that manages over $755 billion in assets globally.
Why This Matters
Abu Dhabi is a world-class destination for capital, not only a source of it. More and more, US firms are coming to the emirate to invest in and alongside UAE funds. Mubadala Capital's ambitious investment strategies and global reach offer US investors like Apollo the opportunity to scale alongside a reliable, proven partner. Apollo joins California’s Silver Rock Financial as the only outside investors in Mubadala Capital, building on a 15-year, multibillion-dollar relationship that includes a $2.5 billion private credit joint venture launched in 2023.
“Mubadala has been a trusted partner in seeding and scaling a number of our strategies over the years…This investment will deepen our alignment and strengthen our mutual commitment to each other’s success, while creating significant opportunities to reach a broader global investor base.” — John Zito, Co-President of Apollo Asset Management
Full Press Release: Mubadala Capital Announces Strategic Investment from Apollo
ABU DHABI, United Arab Emirates & NEW YORK -- Mubadala Capital, the alternative asset management arm of Mubadala Investment Company, today announced a strategic investment from Apollo (NYSE: APO) to support its next phase of growth. Building on their existing relationship, Apollo will take a minority equity stake in Mubadala Capital and commit capital across its various investment strategies, working alongside Mubadala Capital as it continues scaling a world-class alternative asset manager.
Founded in 2011, Mubadala Capital has rapidly grown into a next-generation alternative asset manager with a core alternatives business managing over $60 billion across five investment strategies. Apollo’s investment will help the firm broaden its investor base, expand its strategies, and pursue new opportunities globally.
As part of this transaction, additional strategic investors will also join as minority shareholders in Mubadala Capital and, together with Apollo, are expected to commit an aggregate of $5 billion to Mubadala Capital’s investment strategies at initial close.
Hani Barhoush, CEO of Mubadala Capital, said: “Mubadala Capital was built to connect the world’s capital with differentiated private market opportunities, and this partnership accelerates that ambition. Apollo is one of the most respected institutions in our industry, and their confidence in what we are building reflects the strength of the platform we’ve created and the trajectory we are on. Apollo has been a trusted partner to Mubadala and across Abu Dhabi for many years, and we look forward to working even more closely with them as a shareholder.”
John Zito, Co-President of Apollo Asset Management, said: “Mubadala has been a trusted partner in seeding and scaling a number of our strategies over the years. This investment in the differentiated asset management platform they have built in Mubadala Capital builds on our existing partnership and reflects our conviction in their business. With a talented team, a highly complementary global network and real momentum across its investment strategies, Mubadala Capital is well positioned for its next phase of growth. This investment will deepen our alignment and strengthen our mutual commitment to each other’s success, while creating significant opportunities to reach a broader global investor base.”
Apollo joins the founders of Silver Rock Financial as an equity holder in Mubadala Capital. Mubadala Investment Company remains the majority shareholder, reflecting its long-term conviction in the platform it has backed since inception.
Following the addition of new equity shareholders, Mubadala Capital will continue to operate independently and maintain its own governance structure, with its existing management team retaining 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 and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to Mubadala Capital. Morgan Stanley & Co. LLC served as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Apollo.
