Apollo Global Management To Acquire Mubadala Stake
The 10% investment deepens a partnership for managers seeking greater scale in private credit and alternatives.
Updated on Oct. 26, 2026 in Business Strategy
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Apollo Global Management is finalizing an agreement to acquire a nearly 10% stake in Mubadala Capital. This deal aims to accelerate growth strategies for the asset manager, which currently oversees more than $755 billion in assets.
Why it matters
The deal signals a push for greater scale in the asset management industry by linking a global private equity firm with a major sovereign-backed investor. It builds on years of partnership to combine resources and expand capital deployment capabilities.
Mubadala Capital manages over $755 billion in assets, with its core alternatives division overseeing more than $60 billion. This follows a $2.5 billion joint venture for private credit that the firms established in 2023.
The players
Apollo Global Management
A global alternative asset manager with extensive operations in private equity, credit, and real estate markets.
Mubadala Capital
The asset management subsidiary of the Abu Dhabi-based sovereign investor, Mubadala Investment Company.
The details
The transaction follows a 15-year relationship and deepens an existing partnership formed in 2022. By integrating closer with Apollo Global Management, Mubadala Capital gains access to broader operational scale, while both entities leverage their history of collaborative ventures. The partnership allows both parties to pool expertise across global hubs in cities including London, New York, Rio de Janeiro, and San Francisco.
Timeline
2022: Apollo and Mubadala Investment Company established a partnership.
2023: The firms formed a $2.5 billion joint venture for private credit.
October 26, 2026: The deal is expected to be announced.
Market Landscape
This stake acquisition follows the 2023 joint venture for private credit between Apollo and Mubadala, marking a significant evolution in their collaborative history. The move reflects a broader trend of private equity giants seeking deeper integration with sovereign wealth funds to secure long-term capital stability.
Operators should monitor whether this alignment leads to more aggressive consolidation or credit availability within their specific sector. Smaller firms should watch for potential shifts in capital deployment patterns as these large institutional players deepen their operational overlap.
The takeaway
This transaction confirms that scaling asset management remains a priority for global investment firms seeking to dominate private credit and alternatives. Operators should track the firms' future joint funding announcements to gauge shifts in available liquidity for major enterprise projects.
Further reading
For broader insight on how firms structure alliances, explore our analysis in Business Strategy.
Source note: This article includes information reported by CNBC.
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