Key Takeaways
- • Apollo Global Management has launched the European Credit Company (ECC), a European private credit platform with more than 10 billion euros ($11.2 billion) of lending capacity.
- • The Abu Dhabi Investment Council (ADIC) is among several blue-chip backers, alongside Athora, Norinchukin Bank, Standard Chartered and Aranda Principal Strategies.
- • ECC will invest in performing credit across large and mid-market sectors, including corporate and asset-backed lending and lending to real-asset owners in infrastructure and real estate.
- • Giacomo Petrobelli will serve as chief executive officer and Christian Meissner as chairman of the platform.
- • The launch follows a week after Apollo agreed to buy a nearly 10% stake in Mubadala Capital, the alternative asset manager subsidiary of Abu Dhabi's sovereign wealth fund Mubadala Investment Co.
Summary
Apollo Global Management has launched a European private credit platform, the European Credit Company (ECC), with more than 10 billion euros ($11.2 billion) of lending capacity, according to CNBC. The platform is backed by several institutional investors, including the Abu Dhabi Investment Council (ADIC), European insurance group Athora, Japanese lender Norinchukin Bank, Standard Chartered and Aranda Principal Strategies, a U.S. credit investor, Apollo said in its announcement.
ECC will focus exclusively on Europe and invest in performing credit across the large and mid-market sectors. Its mandate spans corporate and asset-backed lending, as well as lending to real-asset owners in infrastructure and real estate. The venture is led by Giacomo Petrobelli, chief executive officer, and Christian Meissner, chairman.
Petrobelli described the opportunity as a "generational opportunity" to finance Europe's long-term growth agenda using global pools of capital. He said the aim is to build ECC into a premier pan-European credit platform with deep local relationships, differentiated sourcing and flexible solutions across all credit types. Apollo president Jim Zelter said the "Global Industrial Renaissance" is creating substantial financing needs, particularly in Europe, spanning energy transition and transmission, defense, and digital and traditional infrastructure.
The ADIC commitment comes a week after Apollo agreed to acquire a nearly 10% stake in Mubadala Capital, the alternative asset management arm of Mubadala Investment Co., Abu Dhabi's sovereign wealth fund.
ECC will focus exclusively on Europe and invest in performing credit across the large and mid-market sectors. Its mandate spans corporate and asset-backed lending, as well as lending to real-asset owners in infrastructure and real estate. The venture is led by Giacomo Petrobelli, chief executive officer, and Christian Meissner, chairman.
Petrobelli described the opportunity as a "generational opportunity" to finance Europe's long-term growth agenda using global pools of capital. He said the aim is to build ECC into a premier pan-European credit platform with deep local relationships, differentiated sourcing and flexible solutions across all credit types. Apollo president Jim Zelter said the "Global Industrial Renaissance" is creating substantial financing needs, particularly in Europe, spanning energy transition and transmission, defense, and digital and traditional infrastructure.
The ADIC commitment comes a week after Apollo agreed to acquire a nearly 10% stake in Mubadala Capital, the alternative asset management arm of Mubadala Investment Co., Abu Dhabi's sovereign wealth fund.
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