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.
How to help
Call the hotline on 0502955999 or send "thenational" to the following numbers:
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The squad traveling to Brazil:
Faisal Al Ketbi, Ibrahim Al Hosani, Khalfan Humaid Balhol, Khalifa Saeed Al Suwaidi, Mubarak Basharhil, Obaid Salem Al Nuaimi, Saeed Juma Al Mazrouei, Saoud Abdulla Al Hammadi, Taleb Al Kirbi, Yahia Mansour Al Hammadi, Zayed Al Kaabi, Zayed Saif Al Mansoori, Saaid Haj Hamdou, Hamad Saeed Al Nuaimi. Coaches Roberto Lima and Alex Paz.
Ferrari
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
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Where to Find Me by Alba Arikha
Alma Books
