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Mubadala, Apollo expand multi-bn-USD partnership: Abu Dhabi’s sovereign wealth fund Mubadala and US-based Apollo Management extended their multi-bn-USD partnership to accelerate global investment origination across asset classes, focusing on private debt and equity financing, according to a statement. The expansion aims to meet the growing corporate demand for private market financing solutions.
Background: In 2020, Mubadala partnered with Apollo to anchor the Apollo Strategic Origination Partners platform, which committed approximately USD 12 bn over three years for large-scale direct origination solutions. The platform targeted transactions worth USD 1 bn. The entities extended their partnership in February 2022 to bolster Apollo’s Capital Solutions business, expanding transaction origination across asset classes.
What we know: The expanded partnership will help Apollo achieve its target for USD 275 bn in annual origination for Apollo Capital Solutions within five years, though it’s not clear how much Mubadala is committing to the partnership.
Mubadala and Apollo have a deep partnership: In January 2023, the two formed a USD 2.5 bn joint venture to co-invest in global private credit. Mubadala and an Apollo affiliate also pooled over USD 290 mn in March into Apollo Management Global’s new private credit fund — Middle Market Apollo Institutional Private Lending. The two co-invested in London-headquartered hyperscale data center developer Yondr Groupin August.
