Apollo takes minority stake in Abu Dhabi's Mubadala Capital

· Economy · United Arab Emirates

Apollo Global Management will buy nearly 10% of Mubadala Capital, the Abu Dhabi-backed alternative asset manager, in a deal that furthers Apollo's ambitions in the emirate often called the "capital of capital." Separately, Dubai approved targets for an AI campus aimed at attracting 1,000 firms and creating 5,000 jobs, its regulator fined a former financier $210,000 over false and misleading statements, and G42's chief said the UAE could reinvent itself as an exporter of intelligence rather than energy. The UAE also announced $3 million in support for those returning to Afghanistan and its president congratulated Brazil's Lula on re-election.

Why it matters：Gulf sovereign capital and Wall Street are intertwining as the UAE tries to convert oil wealth into AI and finance clout.

Key points

  • Apollo is buying nearly 10% of Mubadala Capital.
  • Dubai set AI-campus goals of 1,000 firms and 5,000 jobs.
  • The emirate's regulator fined a former financier $210,000.

Sources (original reporting)

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