Apollo Global Nears Deal for 10% Stake in Mubadala Capital

Apollo Global Management is close to an agreement to acquire a 10% stake in Mubadala Capital, according to CNBC. The transaction, reported Monday, would deepen the US alternative asset manager's ties to a sovereign-backed investment firm and extend its reach into the Middle East. Mubadala Capital is the asset management arm of Abu Dhabi's Mubadala Investment Company, one of the region's largest sovereign wealth funds. For Apollo, the stake purchase represents a strategic alignment with a well-capitalised Gulf partner at a time when global alternative managers are competing for sovereign wealth fund allocations and co-investment opportunities. The deal would also give Apollo a closer relationship with a platform that manages third-party capital across private equity, credit and other strategies. Terms of the transaction, including the price and any governance provisions, were not disclosed in the report. Investors in both firms will watch for confirmation of the agreement and for details on how the partnership might extend beyond the minority stake, including potential co-investment or distribution arrangements. The report did not specify a timeline for completion or whether the deal remains subject to regulatory approval.