Apollo Global Management agreed to take a minority equity stake in Mubadala Capital, the alternative asset management arm of Abu Dhabi sovereign investor Mubadala Investment Company. The new minority shareholders are expected to commit a combined $5bn to Mubadala Capital's strategies at initial close. The investment deepens a long-standing relationship between the two groups.
Mubadala has helped seed and scale several of Apollo's own strategies, and Apollo will now sit alongside the founders of Silver Rock Financial as an equity holder in Mubadala Capital. "Mubadala has been a trusted partner in seeding and scaling a number of our strategies over the years," said John Zito, co-president of Apollo Asset Management.
Source: PE Insights · Summarized by HeadlinesBriefing