Apollo Takes Nearly 10% Stake in Abu Dhabi-Backed Mubadala Capital
APO is trading near its 52-week low of $99.56 (14% above the low).
Summary
Apollo is buying nearly a 10% stake in Mubadala Capital, the Abu Dhabi-backed alternative asset manager, per CNBC, and is committing $5 billion to the firm. The deal deepens Apollo's ties to Gulf sovereign capital, a key funding channel as the firm pushes past $1 trillion in assets under management. It follows a busy stretch of dealmaking, including the completed £5.7 billion easyJet takeover and the Atlantic Aviation acquisition. Terms and price were not disclosed, so the immediate financial impact is unclear, but a strategic minority stake in a large Gulf manager is a meaningful relationship move for future fundraising.
At the time of this announcement, APO was trading at $113.10 on NYSE in the Finance sector, with a market capitalization of approximately $66.6B. The 52-week trading range was $99.56 to $153.29. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.