Apollo Nears Deal to Acquire Nearly 10% Stake in Mubadala Capital

Apollo Global Management Inc. is nearing a deal to buy nearly a 10% stake in Mubadala Capital, the alternative asset management arm of Abu Dhabi's $385 billion sovereign wealth fund, CNBC reported. The transaction is expected to be announced as soon as Monday, according to people familiar with the matter who spoke on condition of anonymity. Financial terms were not immediately available. Representatives for Apollo, Mubadala Investment Co. and Mubadala Capital did not immediately respond to requests for comment.