Mubadala Investment Company on Tuesday said it has expanded its deal origination partnership with global asset manager Apollo. Photo: Mubadala
Mubadala Investment Company on Tuesday said it has expanded its deal origination partnership with global asset manager Apollo. Photo: Mubadala
Mubadala Investment Company on Tuesday said it has expanded its deal origination partnership with global asset manager Apollo. Photo: Mubadala
Mubadala Investment Company on Tuesday said it has expanded its deal origination partnership with global asset manager Apollo. Photo: Mubadala

Mubadala and Apollo expand partnership to seek multi-billion deals across asset classes


Sarmad Khan
  • English
  • Arabic

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.

Waleed Al Muhairi, Mubadala’s deputy group chief executive, and Marc Rowan, Apollo chief executive. Photo: Apollo
Waleed Al Muhairi, Mubadala’s deputy group chief executive, and Marc Rowan, Apollo chief executive. Photo: Apollo

“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.

What is graphene?

Graphene is a single layer of carbon atoms arranged like honeycomb.

It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were "playing about" with sticky tape and graphite - the material used as "lead" in pencils.

Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But as they repeated the process many times, the flakes got thinner.

By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment had led to graphene being isolated for the very first time.

At the time, many believed it was impossible for such thin crystalline materials to be stable. But examined under a microscope, the material remained stable, and when tested was found to have incredible properties.

It is many times times stronger than steel, yet incredibly lightweight and flexible. It is electrically and thermally conductive but also transparent. The world's first 2D material, it is one million times thinner than the diameter of a single human hair.

But the 'sticky tape' method would not work on an industrial scale. Since then, scientists have been working on manufacturing graphene, to make use of its incredible properties.

In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics. Their discovery meant physicists could study a new class of two-dimensional materials with unique properties. 

 

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GROUPS

Group Gustavo Kuerten
Novak Djokovic (x1)
Alexander Zverev (x3)
Marin Cilic (x5)
John Isner (x8)

Group Lleyton Hewitt
Roger Federer (x2)
Kevin Anderson (x4)
Dominic Thiem (x6)
Kei Nishikori (x7)

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Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

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The specs

Engine: 6.2-litre V8

Transmission: seven-speed auto

Power: 420 bhp

Torque: 624Nm

Price: from Dh293,200

On sale: now

SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20S23%20ULTRA
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Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

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RESULTS

6.30pm: Handicap (rated 95-108) US$125,000 2000m (Dirt).
Winner: Don’t Give Up, Gerald Mosse (jockey), Saeed bin Suroor (trainer).

7.05pm: Handicap (95 ) $160,000 2810m (Turf).
Winner: Los Barbados, Adrie de Vries, Fawzi Nass.

7.40pm: Handicap (80-89) $60,000 1600m (D).
Winner: Claim The Roses, Mickael Barzalona, Salem bin Ghadayer.

8.15pm: UAE 2000 Guineas Trial (Div-1) Conditions $100,000 1,400m (D)
Winner: Gold Town, William Buick, Charlie Appleby.

8.50pm: Cape Verdi Group 2 $200,000 1600m (T).
Winner: Promising Run, Patrick Cosgrave, Saeed bin Suroor.

9.25pm: UAE 2000 Guineas Conditions $100,000 1,400m (D).
Winner: El Chapo, Luke Morris, Fawzi Nass.

UAE v Ireland

1st ODI, UAE win by 6 wickets

2nd ODI, January 12

3rd ODI, January 14

4th ODI, January 16

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

MATCH INFO

Uefa Champions League, Group C
Liverpool v Red Star Belgrade
Anfield, Liverpool
Wednesday, 11pm (UAE)

The%20specs
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Updated: February 22, 2022, 2:23 PM