People familiar with the matter revealed under conditions of anonymity that asset management giant Apollo Global Management is about to finalize a deal to acquire nearly 10% of Mubadala Capital's shares. Mubadala Capital is an alternative asset management subsidiary of Abu Dhabi's sovereign wealth fund Mubadala Investments. People familiar with the matter said that the deal is expected to be officially announced late Monday morning, and the financial terms of the deal have not yet been disclosed. John Zito, co-president of Apollo Asset Management Division, and Bahush have cooperated in depth over the past few years. Sources said that the close partnership between the two, compounded the success of many previous collaborations, pushed the two sides to begin negotiations to deepen cooperation; both sides also agreed that in the asset management industry, the importance of scale effects is reaching an unprecedented level. A person familiar with the deal said, “The capital itself is a moat.”

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