Apollo to buy nearly 10% stake in Abu Dhabi-backed alternative asset manager Mubadala Capital

Marc Rowan, Co-Founder, CEO and Chair of the board of Apollo Global Management, Inc. speaks during CNBC's Invest In America Forum in Washington, D.C. on April 15, 2026.CNBCInvesting giant Apollo Global Management is finalizing a deal to buy nearly a 10% stake in Mubadala Capital, the alternative asset manager subsidiary of Abu Dhabi's sovereign wealth fund, Mubadala Investment Company, according to people familiar with the matter who spoke on condition of anonymity. The deal is expected to be announced later Monday morning, they said. Financial terms were not immediately known.The transaction is significant on multiple fronts. It further advances Apollo's ambitions in Abu Dhabi, often called the "capital of capital." The firm has spent the past 15 years building key strategic relationships there, with both the country's investment arm and its core leadership. Apollo already has a multibillion-dollar partnership with Mubadala Investment Company, first established in 2022 and extended two years ago. At the time of that extension, Apollo said the agreement would strengthen the firm's Capital Solutions platform by enabling the firms to jointly source and provide customized debt and equ...