Apollo Global Management, one of the world’s largest alternative investment managers, and Abu Dhabi’s strategic investment arm Mubadala Investment Company, are expanding their global partnership to further build capabilities to originate transactions across asset classes.
The expanded partnership builds on the Mubadala-backed Apollo Strategic Origination Partners (Asop) platform and is designed to benefit a range of capital needs and meet increasing market demand for multi-billion-dollar equity and debt solutions, Mubadala said in a statement on Tuesday.
Apollo expects the deal will help to achieve its five-year deal origination targets and support other goals set at its Investor Day.
“We have long been a solutions provider to large issuers in credit, and now through this expanded partnership and our growing capital solutions business, we continue to better position ourselves to serve clients across the capital structure,” Apollo chief executive Marc Rowan said.
“We are pleased to extend our strategic partnership with Mubadala, together helping the leading companies access creative and tailored financing throughout market cycles.”
In June 2020, Apollo announced the launch of the Asop as a credit unit to provide companies with loans of about $1 billion.
The unit, with Mubadala as its lead backer, is expected to provide $12bn in capital to companies over the next three years through direct lending, it said at the time.
“We believe that this platform will give Mubadala access to a pipeline of compelling investment opportunities, enabling us to capitalise on the global shift in corporate finance execution,” said Waleed Al Muhairi, Mubadala’s deputy group chief executive.
“The two organisations have a long-standing and mutually beneficial partnership, driven by shared investment philosophies and underscored by Mubadala's support to further enhance the Apollo Capital Solutions platform.”
The expanded collaboration is also expected to strengthen Apollo’s capital solutions business, which operates across the company’s global investment platform with a growing team of professionals focused on origination, syndication and broader capital markets activities.
“With additional capital commitments from Mubadala, we expect to transact on a larger scale across asset classes and with greater speed,” Craig Farr, Apollo partner and head of Apollo Capital Solutions, said, without giving financial details of the deal.
“Our ability to serve as a preferred counterparty benefits both corporate borrowers and our investors as we increase our relevance in the financing ecosystem.”
We believe that this platform will give Mubadala access to a pipeline of compelling investment opportunities, enabling us to capitalise on the global shift in corporate finance execution
Waleed Al Muhairi,
deputy group chief executive, Mubadala
This month, the US investment firm agreed to invest $1.4bn through Apollo-managed funds and clients in Aldar Properties, which will help the company unlock value and represents one of the largest foreign direct investments in Abu Dhabi’s private sector.
The investment allocates $500 million into a land joint venture, $500m into perpetual subordinated notes issued by Aldar Investment Properties, $300m in mandatory convertible preferred equity investment in Aldar Investment Properties, and $100m in common equity investment in Aldar Investment Properties, Aldar said in a statement at the time.
Apollo is also part of a long-term joint venture with Adnoc in which Apollo funds and clients led a $2.7bn investment in a real estate venture.
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Tips for newlyweds to better manage finances
All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
More from Rashmee Roshan Lall
How Alia's experiment will help humans get to Mars
Alia’s winning experiment examined how genes might change under the stresses caused by being in space, such as cosmic radiation and microgravity.
Her samples were placed in a machine on board the International Space Station. called a miniPCR thermal cycler, which can copy DNA multiple times.
After the samples were examined on return to Earth, scientists were able to successfully detect changes caused by being in space in the way DNA transmits instructions through proteins and other molecules in living organisms.
Although Alia’s samples were taken from nematode worms, the results have much bigger long term applications, especially for human space flight and long term missions, such as to Mars.
It also means that the first DNA experiments using human genomes can now be carried out on the ISS.
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PROFILE OF INVYGO
Started: 2018
Founders: Eslam Hussein and Pulkit Ganjoo
Based: Dubai
Sector: Transport
Size: 9 employees
Investment: $1,275,000
Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri
