Apollo Takes Strategic Stake in Mubadala Capital, Deepening Middle East Investment Ties
Apollo Global Management, Inc. (NYSE:APO) on Monday announced a strategic minority investment in Mubadala Capital, the alternative asset manager subsidiary of Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company.
Apollo joins the founders of Silver Rock Financial as an equity holder in Mubadala Capital, while Mubadala Investment Company will remain the majority shareholder.
As part of this transaction, additional strategic investors will also join as minority shareholders in Mubadala Capital.
Together with Apollo, they are expected to commit an aggregate of $5 billion to Mubadala Capital’s investment strategies at initial close.
Financial terms of the transactions were not disclosed. However, CNBC reports that Apollo’s stake could be 10%, according to people familiar with the matter.
Rationale for Apollo Global Management and Mubadala Capital
Founded in 2011, Mubadala Capital is a global alternative asset management platform that manages and administers over $755 billion in assets for clients and limited partners through its core alternatives business and strategic partnerships.
Mubadala Capital’s core alternatives businesses manage more than $60 billion across five investment strategies.
Apollo’s investment will help the firm broaden its investor base, expand its strategies, and pursue new opportunities worldwide.
The investment further strengthens Apollo’s presence and investment vision in Abu Dhabi, where the firm has spent the past 15 years building strategic relationships.
The new investment builds on a multibillion-dollar partnership Apollo established with Mubadala Investment Company, first in 2022 and extended in 2024, CNBC said.
The firms also formed a $2.5 billion joint venture in 2023 to co-invest in global private credit opportunities over a five-year horizon.
“This investment will deepen our alignment and strengthen our mutual commitment to each other’s success, while creating significant opportunities to reach a broader global investor base,” said John Zito, Co-President of Apollo Asset Management.
Apollo had approximately $1.05 trillion of assets under management, as of June 30, 2026.
As of June 30, 2026, the company had $25.4 billion of unrestricted cash and cash equivalents, as well as $5.6 billion of available funds from the AGM credit facility, Athene credit facility and Athene liquidity facility.
CNBC highlighted similar investment in other asset management platforms by Apollo including including Diameter Capital Partners in October 2022 and Motive Partners in July 2021.
M&A Activity Remains Strong Across the Global Asset Management Industry
Global asset management M&A volume reached $53.8 billion year to date in 2026, according to Dealogic, cited The Financial Times in its August report.
M&A activity is fueled as asset managers seek to achieve greater scale, drive AUM growth and enhance their capabilities.
Independent boutiques and smaller asset managers are increasingly facing competitive pressures, turning to specialized strategies and technology adoption to navigate the wave of consolidation.
According to Oliver Wyman, growing pressure for firms to improve cost efficiencies, broaden capabilities, expand distribution networks and secure capital access is expected to further accelerate consolidation across the asset management industry.
APO Stock Price Activity: Apollo Global Management shares are trading higher by 3.44% at $116.71 at the time of publication on Monday, according to Benzinga Pro data.
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