Apollo to take minority stake in Abu Dhabi’s Mubadala Capital

Apollo Global Management has agreed to take a minority equity stake in Mubadala Capital, deepening the US firm’s ties with the alternative asset management arm of Abu Dhabi’s sovereign wealth fund. Announced on Monday, 26 October 2026, the transaction anchors a broader alliance that brings several new strategic investors into the Abu Dhabi platform, with the group committing an aggregate sum at the initial close.

The deal links one of Wall Street's largest alternative asset managers with a primary homegrown asset manager in the Gulf region. While media reports initially cited people familiar with the matter stating that Apollo was acquiring a stake of nearly 10%, neither Apollo nor Mubadala Capital disclosed the exact size of the stake or the price paid in their official statements, as reported by Financial-News.co.uk.

Media additions

The transaction builds upon a multi-year history of collaboration between the two institutions. Mubadala anchored the formation of Apollo Strategic Origination Partners, and the firms subsequently launched a joint venture focused on global private credit. According to MEED, the two parties also extended their multibillion-dollar partnership focused on global origination opportunities.

Under the terms of the agreement, Mubadala Capital will continue to operate independently and maintain its own governance structure. Existing management will retain full authority over investment decisions and operations, while Mubadala Investment Company remains the majority shareholder. Apollo joins the founders of Silver Rock Financial as an equity holder in the subsidiary.

The deal reflects the continuing allure of Abu Dhabi wealth for major Western investors. As noted by Semafor, the region remains a dominant hub for state-controlled capital despite broader geopolitical pressures. 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, said Hani Barhoush, chief executive of Mubadala Capital, via the Apollo Global Management press release.

John Zito, co-president of Apollo Asset Management, echoed those sentiments in the official company announcement, stating that Mubadala Capital is well-positioned for its next phase of growth due to its global network and momentum across investment strategies.

Advising on the transaction, Goldman Sachs and Jefferies served as financial advisors alongside Skadden, Arps, Slate, Meagher & Flom as legal counsel to Mubadala Capital. Morgan Stanley served as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison acted as legal counsel to Apollo, according to disclosures compiled by WNWN-FM.

What to Watch Next

• Regulatory and legal approvals required ahead of the anticipated transaction closing.
• The official closing of the deal, slated for the fourth quarter of 2026, as tracked by Alternative Credit Investor.
• Further disclosures regarding the identities of additional strategic minority investors and final capital deployment figures.