Apollo will acquire a nearly 10% stake in Mubadala Capital

American investment firm Apollo Global Management will acquire an almost 10% stake in Abu Dhabi's Mubadala Capital.

Apollo and other investors will allocate a total of roughly $5 billion to various Mubadala Capital projects. Other partners will also become minority stakeholders in the company.

Mubadala Capital will remain an independent company, and its existing management structure will not change. Its parent company, Mubadala Investment Company, managed approximately $385 billion in assets at the end of last year.

Overall, Abu Dhabi's state investment funds' assets are estimated at around $1.8 trillion.

Source: Reuters