Two prominent law firms, Paul, Weiss, Rifkind, Wharton & Garrison and Skadden, Arps, Slate, Meagher & Flom, are facilitating a $5 billion strategic funding round for Mubadala Capital, the Abu Dhabi-based asset management division of Mubadala Investment Company.
Apollo Global Management, represented by Paul Weiss, will acquire a minority ownership position in Mubadala Capital, with Skadden advising the firm. This move is part of a wider commitment to support the Abu Dhabi-based asset manager’s next phase of growth.
Apollo and other strategic backers are poised to inject the committed funds into Mubadala Capital’s investment programs upon the deal’s initial completion.
With over $60 billion in assets under management across five distinct strategies, Mubadala Capital stands to diversify its investor network, refine its offerings, and explore fresh global ventures through this partnership.
While Mubadala Investment Company will retain majority control, Apollo will join Silver Rock Financial’s founders as equity participants in Mubadala Capital.
Hani Barhoush, CEO of Mubadala Capital, emphasized that the collaboration would enable the firm to bridge global investors with private market opportunities, noting that Apollo’s investment reflected confidence in the platform and its growth prospects.
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John Zito, co-president of Apollo Asset Management, noted that the investment built on the firms’ existing relationship and would strengthen their alignment while creating opportunities to reach a broader global investor base.
Mubadala Capital will preserve its operational independence and existing governance framework, ensuring its leadership retains complete discretion over investment and day-to-day operations.
The agreement is anticipated to finalize in late 2026, pending necessary regulatory and legal clearances.
Apollo, a publicly traded company on the New York Stock Exchange, oversees roughly $1.05 trillion in assets as of June 30, 2026.
The transaction shows the increasing trend of private equity firms and sovereign wealth funds teaming up to allocate capital and capitalize on worldwide investment prospects.
The firm employs over 250 professionals across offices in Abu Dhabi, London, New York, Rio de Janeiro, and San Francisco. Beyond its core alternative investments, Mubadala Capital maintains strategic ventures in private wealth management, public credit, insurance, and real estate.