Abu Dhabi’s Mubadala Capital has secured a $5 billion investment from US asset manager Apollo and other strategic partners, marking a major step in the Emirati firm’s global expansion. The funding will deepen Apollo’s role as a minority equity holder while bringing in new investors alongside existing shareholders, including Silver Rock Financial’s founders. The combined $5 billion commitment will be made at the initial close of the transaction, reflecting the scale of the Emirati firm’s next-phase ambitions.
Mubadala Capital, the alternative asset management arm of Mubadala Investment Company, will use the capital to broaden its investor base and accelerate growth in international markets. Founded in 2011, the firm has since developed into a global alternative asset manager overseeing more than $60 billion in assets through its core alternatives business, which spans five distinct investment strategies. The firm currently manages over $755 billion in assets across its core alternatives business—including private equity, credit, and venture capital—and strategic partnerships in wealth, public credit, and real estate.
Apollo’s involvement extends a longstanding collaboration between the two firms, with the US manager previously helping seed and scale Mubadala Capital’s investment strategies. The latest agreement transforms this relationship by making Apollo an equity holder in Mubadala Capital itself. John Zito, co-president of Apollo Asset Management, described the partnership as a vote of confidence in Mubadala’s management team and global network, noting that the investment reflects Apollo’s trust in the platform’s trajectory. The transaction also aligns with Abu Dhabi’s broader push to strengthen its position as a hub for international capital, while creating opportunities to reach a broader global investor base.
Despite the new investment, Mubadala Investment Company will remain the majority shareholder, ensuring continuity in governance. Mubadala Capital’s operations, including day-to-day investment decisions, will stay under its existing management team, with no changes to its independent structure. The deal is expected to close in late 2026, pending regulatory approvals, subject to the transaction’s completion in the fourth quarter of that year.
Apollo’s assets under management total $1.05 trillion as of mid-2026, positioning the firm as one of the world’s largest alternative asset managers. The investment shows Mubadala Capital’s role in connecting global capital with differentiated private market opportunities, particularly in emerging and high-growth sectors. Hani Barhoush, CEO of Mubadala Capital, emphasized that Apollo’s confidence aligns with the firm’s global ambitions, adding that the partnership builds on years of collaboration in Abu Dhabi and beyond.
Mubadala Capital employs over 250 professionals across offices in Abu Dhabi, London, New York, Rio de Janeiro, and San Francisco. The firm’s core alternatives business alone oversees $60 billion in assets, while its broader platform includes private wealth, insurance, and real estate interests. Barhoush highlighted that the new capital will accelerate the firm’s ability to pursue opportunities across international markets, further solidifying its position as a bridge between global capital and private market investments.
