Apollo Global Management Acquires Stake in Mubadala Capital

Apollo Global Management Inc. is acquiring a minority equity stake in Mubadala Capital, the alternative asset management arm of Abu Dhabi's $385 billion sovereign wealth fund. While the official statement from the Emirati firm did not disclose financial terms or the exact size of the holding, a source familiar with the matter indicates the stake will be nearly 10%.

As part of the agreement, the U.S. firm will commit capital across various investment strategies. This move is intended to deepen the relationship between the investment firm and the emirate of Abu Dhabi.