Apollo Global Management is set to deepen its ties with the UAE’s alternative investment industry through a strategic investment in Mubadala Capital, an announcement the firms say reflects increasing maturity and international recognition for the country’s private equity and investment management ecosystem.
The deal, announced earlier this week on Monday, October 26, 2026, involves Apollo acquiring a minority stake in Mubadala Capital. Mubadala Capital is described as the alternative investment arm of Mubadala Investment Company.
According to the terms outlined in the announcement, Apollo and additional strategic investors are expected to commit a combined US$5 billion across Mubadala Capital’s investment strategies.
UAE industry and cross regional investment thesis
In commentary accompanying the announcement, Iñigo de Luna, CEO of UAE-based private equity firm Nahda Capital Partners, said the transaction aligns with a longer-term shift in how the UAE’s financial sector is developing. He said the firm’s move to the UAE was driven by “the enormous potential of its investment ecosystem,” and called the Apollo and Mubadala Capital partnership another example of the country building an industry that “commands international recognition.”
Beyond attracting international capital, the release also framed private equity as a potential source of financing for businesses across the GCC. It said private capital can support expansion, acquisitions and competitive positioning.
Professionalisation and governance focus
Manuel de Luna, a Partner at Nahda Capital Partners, said the value of private equity extends beyond providing capital. He highlighted potential benefits including professionalising management, building independent governance, attracting senior talent, aligning incentives and enabling acquisitions that may be harder to pursue on an unaided basis.
The firm’s statements also linked this approach to operational expertise and disciplined capital allocation, describing such efforts as a pathway for transforming established local companies into regional competitors.
Nahda Capital Partners describes its own strategy
Nahda Capital Partners, according to the release, is an independent UAE-based private equity platform focused primarily on the UAE, Saudi Arabia and the wider GCC. The firm describes an investment approach oriented toward majority ownership and operational improvements, with a regional expansion focus.
The announcement further states that the firm targets mid-market businesses and partners with founders and family shareholders, applying what it describes as institutional governance and operational value creation. It also says the firm’s philosophy is aligned with Sharia principles in practice, with an emphasis on real economy assets, prudent leverage and disciplined governance.
The release concluded that continued international partnerships are expected to support the UAE’s broader alternative investment ecosystem and create additional opportunities to connect financial expertise and long-term capital with businesses’ growth ambitions across the region.
