Mubadala Capital Manages More Than $30 Billion in Assets as Apollo Deal Remains Unconfirmed
Key Facts
I could not verify a CNBC report that said Apollo was close to buying a stake of nearly 10% in Mubadala Capital: the page could not be opened, and no confirmation of the deal appeared in available official sources. As a result, there is no documented announcement of a stake, terms or completion date for such a purchase. Separately, Mubadala’s 2025 annual report said Mubadala Capital manages more than $30 billion in assets across four investment businesses. That scale puts the company at the center of any discussion about its ownership or the expansion of its partnerships, but does not in itself confirm that Apollo is taking a stake in it. Nor does describing the partnership between the two as strategic and long-term link that description to the reported stake deal.
The announced partnership between Apollo and Mubadala predates the discussion of a possible stake. On 22 February 2022, the companies announced an expansion of their global partnership to support Apollo’s capital solutions business and provide equity and debt financing solutions. Mubadala Capital then announced on 14 September 2023 the launch of Mubadala Capital Solutions, saying Apollo had invested in its new evergreen strategy. The strategy launched with a diversified portfolio worth $2.7 billion from Mubadala Capital’s balance sheet, according to the company. These announcements establish prior cooperation and investment in specific strategies, but do not specify Apollo’s ownership in the parent company or provide evidence of a purchase of a stake of nearly 10%.
In November 2024, Apollo said the companies had formed a $2.5 billion joint venture to co-invest in private credit opportunities globally. Mubadala’s 2024 annual report confirmed a venture of the same value, also noting Mubadala’s support for the launch of an Apollo lending vehicle targeting middle-market companies. This reflects practical cooperation in private credit, an area within alternative asset management, but remains distinct from owning a stake in Mubadala Capital. In August 2026, Mubadala Capital announced that Alpha Dhabi would double its commitment and stake in the MICAD private credit joint venture to $1 billion. The venture is managed by Mubadala Capital. These developments show a range of partnerships and investments connected to the company’s business, without establishing the deal attributed to Apollo.
Other investments offer a picture of Apollo’s broad activity, with no announced link to a Mubadala Capital deal. In October 2026, Apollo announced a strategic partnership with UDR valued at nearly $2.0 billion, involving a portfolio of 19 residential communities comprising 7,059 apartments. Apollo said the deal was expected to close on 29 October 2026, subject to signing the documents and satisfying customary closing conditions. Apollo shares, listed under the ticker APO, closed at $112.83 on 23 October 2026, according to EL7 data. Those data do not show share-price movement linked to news of the stake, and the closing price is from a session before the date of the reported news.
Mubadala Capital’s activities include investments and products beyond its partnership with Apollo. In July 2026, EL7 reported that the company had launched a tokenized fund with Coinbase across the Base, Solana and Sui networks. This comes alongside the management of more than $30 billion in assets across four investment businesses, according to Mubadala’s 2025 annual report. This background does not establish whether Apollo is seeking to buy a stake, nor does it disclose a potential valuation, shareholder rights or deal structure. The next step would be an official confirmation or documented details about the claim, if any. Until then, previous partnerships and investments provide context for the relationship between the two, but are not an announcement of a stake sale in Mubadala Capital.