Apollo secures $600 million for Mubadala investment

Apollo Global Management priced $600 million in 2056-maturity debt to finance Mubadala Capital Asset Management's investment in the firm, with the Abu Dhabi sovereign fund's asset management arm taking a stake in Apollo. The deal ties a major US alternative asset manager to one of the Gulf's largest sovereign investors, deepening Mubadala's exposure to Apollo's credit and equity platforms. The 2056 tenor extends Apollo's debt maturity profile well beyond its typical issuance, reflecting demand for long-dated paper from insurance and pension buyers. Terms including the coupon and the size of Mubadala Capital's equity commitment were not disclosed in the pricing announcement. Watch for closing conditions and regulatory approvals, and for whether the partnership expands into co-investment or origination arrangements between the two firms.