Apollo Acquires Minority Stake in Abu Dhabi’s Mubadala Capital

Apollo has agreed to take a minority equity position in Mubadala Capital, the Abu Dhabi-based alternative asset manager announced on Monday. The strategic investment is intended to support the firm’s next phase of growth.

Strategic Investment

Under the terms of the deal, Apollo will also commit capital across Mubadala Capital’s various investment strategies, according to a media release from the company. Additional strategic investors are expected to join as minority shareholders, with a combined commitment of $5 billion to the firm’s investment strategies.

Silver Rock Financial already holds an equity stake in Mubadala Capital. Mubadala Investment Company, the parent entity, will remain the majority shareholder.

Continued Independence

Following the injection of new equity, Mubadala Capital will continue to run independently and maintain its existing governance framework. The current management team will retain full control over investment decisions and operational matters, the release stated.

Hani Barhoush, chief executive of Mubadala Capital, described the partnership as accelerating the company’s ambition to connect global capital with differentiated private market opportunities. “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,” Barhoush said, adding that Apollo has been a “trusted partner” for several years.

Scale and Timeline

Mubadala Capital was established in 2011 and has grown into a next-generation alternative asset manager with a core alternatives business overseeing more than $60 billion across five investment strategies. As of late June, Apollo managed approximately $1.05 trillion in assets.

John Zito, co-president of Apollo Asset Management, said the investment builds on an existing partnership and reflects conviction in Mubadala Capital’s business. “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,” Zito said.

The transaction is expected to close in the fourth quarter of 2026, subject to regulatory and legal approvals.