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

Apollo is set to acquire a nearly 10% stake in Mubadala Capital, an alternative asset manager backed by the Abu Dhabi government. The deal marks a significant expansion of Apollo's presence in Abu Dhabi and demonstrates the company's commitment to the region. The acquisition is expected to have a positive impact on Apollo's business, as it will provide access to new investment opportunities and strengthen the company's relationships with key stakeholders in the region. Mubadala Capital is a major player in the alternative asset management industry, and Apollo's investment is a vote of confidence in the company's capabilities. The deal is also expected to have a positive impact on the broader financial market, as it demonstrates the growing interest in alternative assets and the importance of the Abu Dhabi region as a hub for financial activity. The acquisition is subject to regulatory approval, but it is expected to be completed in the coming months.