Apollo Global Management has launched a European private credit platform with lending capacity of more than €10 billion ($11.2 billion), backed by several blue-chip investors, including the Abu Dhabi Investment Council (ADIC).
The European Credit Company will invest in high-performing credits in the large and medium-sized corporate sectors, including corporate and asset-backed loans, as well as loans to owners of real estate assets in infrastructure and real estate.
The company is led by Giacomo Petrobelli, as general manager, and Christian Meissner, its president.
Apollo Global Management.
Petrobelli said Apollo’s ECC aims to capitalize on a “generational opportunity” to finance Europe’s long-term growth agenda using global capital pools.
Apollo partners with ADIC
ADIC’s support for the company comes a week after Apollo agreed to buy a nearly 10% stake in Mubadala Capital, the alternative asset management arm of Mubadala Investment Co., Abu Dhabi’s sovereign wealth fund.
Other strategic partners of the new platform include European insurance group Athora, Japanese lender Norinchukin Bank, Chartered standard and Aranda Principal Strategies, a U.S. credit investor, Apollo said in a statement.
“Our goal is to establish ECC as a leading pan-European credit platform, focused exclusively on the region, with deep local relationships, differentiated sourcing and flexible solutions covering all credit types,” Petrobelli said.
“The global industrial renaissance is creating enormous financing needs around the world that are being keenly felt in Europe, from energy transition and transportation to defense and digital and traditional infrastructure,” added Apollo President Jim Zelter.
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