Apollo Global Management has launched a European private credit platform with financing capacity of over 10 billion euros ($11.2 billion), backed by several blue-chip investors including Abu Dhabi Investment Council (ADIC).
European Credit Company invests in credit execution across large and mid-market sectors, including corporate lending, asset-backed lending, infrastructure and real estate property owner lending.
The venture is led by CEO Giacomo Petrobelli and chairman Christian Meissner.
Apollo Global Management.
Mr Petrobelli said Apollo’s ECC aims to capitalize on “generational opportunities” to tap global capital pools to fund Europe’s long-term growth plans.
Apollo partners with ADIC
ADIC’s support for the venture comes a week after Apollo agreed to buy a nearly 10% stake in Mubadala Capital, the alternative asset management subsidiary of Abu Dhabi sovereign wealth fund Mubadala Investment Co.
Other strategic partners for the new platform include European insurance group Athora, Japanese lender The Norinchukin Bank; standard chartered Apollo said in the announcement.
“We aim to build ECC into a leading pan-European credit platform, with deep regional relationships, differentiated sourcing and flexible solutions across all credit types, with an exclusive focus on this region,” Petrovelli said.
“The global industrial renaissance is creating tremendous demand for capital around the world, whether in energy transition, transmission, defense, or digital or traditional infrastructure, and it is being felt acutely in Europe,” added Apollo President Jim Zelter.
