DUBAI, Oct 26 (Reuters) - Apollo Global Management is buying a minority stake in Mubadala's alternative asset management unit and committing capital across its various investment strategies, subsidiary Mubadala Capital said on Monday, as the US investment giant deepens ties with the Abu Dhabi wealth fund.
As part of the deal, Apollo is expected to commit a total of $5 billion to Mubadala Capital’s investment strategies together with other strategic investors, which will also join as minority shareholders in the subsidiary, Mubadala Capital said in a statement.
(Reporting by Federico Maccioni; Editing by Susan Fenton)