Key Takeaways
- • Apollo Global Management is taking a minority equity stake in Abu Dhabi-based Mubadala Capital and committing capital across its investment strategies, as announced by Mubadala Capital on October 26, 2026.
- • Apollo and other strategic minority investors are expected to commit an aggregate $5 billion to Mubadala Capital's strategies at initial close, according to Apollo's investor relations release.
- • Mubadala Capital manages more than $60 billion across five core alternatives strategies, and Mubadala Investment Company remains majority shareholder with no change in control.
- • The transaction is expected to close in the fourth quarter of 2026, subject to regulatory and legal approvals; the purchase price for Apollo's stake was not disclosed.
Summary
Apollo Global Management is deepening its relationship with Abu Dhabi-based Mubadala Capital through a minority equity investment and new capital commitments. Mubadala Capital announced the transaction on October 26, 2026, stating that the deal is intended to support the next phase of its growth. Under the agreement, Apollo becomes an equity holder in Mubadala Capital and will commit capital across its investment strategies. Additional strategic investors will also join as minority shareholders. Together with Apollo, they are expected to commit an aggregate $5 billion to Mubadala Capital's strategies at initial close, according to the Apollo investor relations release.
Mubadala Capital manages more than $60 billion across five core alternatives strategies, spanning private equity, credit, venture capital and special opportunities. Mubadala Investment Company will remain the majority shareholder, and Mubadala Capital will continue to operate independently under its existing governance structure, with its management team retaining authority over investment decisions and operations. Apollo Asset Management Co-President John Zito said the investment reflects Apollo's conviction in Mubadala Capital's platform and could create opportunities to reach a broader global investor base.
For Apollo, the transaction fits a strategy built around partnerships, private-market capital formation and the expansion of investment platforms. According to the release, Apollo reported approximately $1.05 trillion in assets under management as of June 30, 2026. The Mubadala investment adds a strategic relationship alongside Apollo's asset-management and retirement-services businesses rather than representing a change in control of the Abu Dhabi platform.
The transaction is expected to close in the fourth quarter of 2026, subject to regulatory and legal approvals. The announcement does not disclose the purchase price for Apollo's stake. Apollo Global Management shares traded at 105.50 euros on Lang & Schwarz at 13:04 CET on November 9, 2026.
Mubadala Capital manages more than $60 billion across five core alternatives strategies, spanning private equity, credit, venture capital and special opportunities. Mubadala Investment Company will remain the majority shareholder, and Mubadala Capital will continue to operate independently under its existing governance structure, with its management team retaining authority over investment decisions and operations. Apollo Asset Management Co-President John Zito said the investment reflects Apollo's conviction in Mubadala Capital's platform and could create opportunities to reach a broader global investor base.
For Apollo, the transaction fits a strategy built around partnerships, private-market capital formation and the expansion of investment platforms. According to the release, Apollo reported approximately $1.05 trillion in assets under management as of June 30, 2026. The Mubadala investment adds a strategic relationship alongside Apollo's asset-management and retirement-services businesses rather than representing a change in control of the Abu Dhabi platform.
The transaction is expected to close in the fourth quarter of 2026, subject to regulatory and legal approvals. The announcement does not disclose the purchase price for Apollo's stake. Apollo Global Management shares traded at 105.50 euros on Lang & Schwarz at 13:04 CET on November 9, 2026.
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