The Analysis Series: Apollo’s minority stake in Mubadala Capital – the terms, the TWG stake that never completed, and what it means for football’s lenders
On 26 October 2026 Mubadala Capital, the alternative asset management arm of Abu Dhabi’s sovereign investor Mubadala Investment Company, announced that Apollo Global Management will take a minority equity stake in it and commit capital across its strategies. Apollo and other, unnamed strategic investors are expected to commit an aggregate $5bn to Mubadala Capital’s strategies at initial close, with completion targeted for Q4 2026 (Apollo IR). Neither price nor stake size was disclosed; CNBC, citing people familiar with the matter, put Apollo’s holding at nearly 10% (CNBC).
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