Apollo Buys Big Stake in Abu Dhabi Asset Manager
Apollo Global buys almost ten percent of Mubadala Capital to expand its reach in the Middle East.
Big money moves fast across the globe. Apollo Global Management wants more footing in the Middle East. Now the giant investment firm buys a major piece of an Abu Dhabi asset manager.
Apollo agrees to buy nearly 10% of Mubadala Capital. Mubadala manages billions of dollars for the government of Abu Dhabi. Leaders call this region the capital of capital because of its vast wealth.
The deal ties Apollo closer to wealthy Middle Eastern funds. Both firms plan to pool cash for new global deals. Apollo gains direct access to deep pockets for its credit and buyout funds.
Mega firms control more wealth than ever. Deals like this show how Wall Street chases global money to fuel buyouts. Watch these giant partnerships as private firms reshape the wider market.
Source: CNBC
More from Markets
