Apollo finalizes deal to buy nearly 10% of Mubadala Capital — CNBC

US investment company Apollo Global Management is finalizing a deal to acquire a nearly 10% stake in Mubadala Capital, the alternative asset management arm of Abu Dhabi sovereign investor Mubadala Investment Company. CNBC reports, citing people familiar with the matter.

According to the TV channel’s sources, the transaction was planned to be announced later on Monday. At the time of publication, the deal had not yet been publicly announced, and its financial terms were unknown. Representatives of both companies declined to comment.

Partnership development

Apollo and Mubadala Investment Company already have a multibillion-dollar partnership launched in 2022 and extended two years later. When the agreement was extended, Apollo said the cooperation would strengthen its Capital Solutions platform: the companies would jointly seek opportunities and provide companies in various countries with tailored debt and equity financing.

More current news is available on the UA.News Telegram channel Telegram.

In 2023, Apollo and Mubadala Investment Company also created a $2.5 billion joint venture to co-invest in global private credit market opportunities over five years.

Mubadala Capital assets

Mubadala Capital says it manages, advises on and administers more than $755 billion in assets. Its wholly controlled core alternative investment businesses manage and invest more than $60 billion.

Mubadala Capital’s chief executive officer is Hani Barhoush. The company has international offices in London, New York, Rio de Janeiro and San Francisco. CNBC notes that Apollo’s investment is similar to deals the company has made with other asset management platforms, including Diameter Capital, Thoreau and Motive Partners.