Key Takeaways
- • Apollo Global Management is nearing a deal to acquire an almost 10% stake in Mubadala Capital, the alternative asset management subsidiary of Abu Dhabi sovereign wealth fund Mubadala Investment Company, according to CNBC citing people familiar with the matter.
- • The deal was reported as set to be announced publicly later on the day of reporting; financial terms were not disclosed.
- • Apollo and Mubadala have collaborated for more than 15 years on multi-billion-dollar lending to large companies.
- • The two firms formed a five-year joint venture in 2023 worth $2.5 billion to invest in private credit businesses globally.
Summary
Apollo Global Management Inc. is nearing a deal to acquire an almost 10% stake in Mubadala Capital, the alternative asset management arm of Mubadala Investment Company PJSC, CNBC reported on Monday, citing people familiar with the matter. Mubadala Investment Company is one of the sovereign wealth funds of the Abu Dhabi government.
According to the sources cited by CNBC, the transaction would be made public later on the day of the report. The people did not disclose the financial details of the proposed stake.
The proposed transaction builds on a long relationship between the two firms. Apollo and Mubadala have collaborated for over 15 years, working together to provide multi-billion-dollar loans to large companies. In 2023, they established a five-year joint venture valued at $2.5 billion to invest in private credit businesses around the world, a segment in which both firms have been active.
The report is based on sources familiar with the matter, and no official confirmation of the terms was included in the source material.
According to the sources cited by CNBC, the transaction would be made public later on the day of the report. The people did not disclose the financial details of the proposed stake.
The proposed transaction builds on a long relationship between the two firms. Apollo and Mubadala have collaborated for over 15 years, working together to provide multi-billion-dollar loans to large companies. In 2023, they established a five-year joint venture valued at $2.5 billion to invest in private credit businesses around the world, a segment in which both firms have been active.
The report is based on sources familiar with the matter, and no official confirmation of the terms was included in the source material.
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