The venture provides non-bank financing solutions encompassing corporate facilities, asset-backed loans, and capital for real estate and infrastructure assets. Backing from the Abu Dhabi Investment Council comes shortly after Apollo agreed to buy an approximate 10% stake in Mubadala Capital. Apollo President Jim Zelter emphasized that the new resources directly target high-priority European infrastructure and defense needs. The initiative consolidates support from prominent global institutional partners across Europe, Asia, and the United States.
Key points
The initiative addresses growing capital requirements across European traditional infrast…: The initiative addresses growing capital requirements across European traditional infrastructure, defense projects, and energy transition programs.
Apollo is expanding its footprint in European direct lending by offering both asset-backe…: Apollo is expanding its footprint in European direct lending by offering both asset-backed and corporate credit facilities.
The platform demonstrates strengthening strategic relationships between Apollo Global Man…: The platform demonstrates strengthening strategic relationships between Apollo Global Management and prominent sovereign Middle Eastern financial institutions.
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Apollo Global Management has launched a European private credit platform with more than 10 billion euros ($11.2 billion) of lending capacity, backed by several blue-chip investors, including the Abu Dhabi Investment Council (ADIC).
The European Credit Company will invest in performing credit across the large and mid-market sectors, including 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, serving as chief executive officer, and Christian Meissner, its chairman.
Petrobelli said Apollo's ECC aims to capitalize on a "generational opportunity" to finance Europe's long-term growth agenda using global pools of capital.
Apollo partners with ADIC
The venture's backing from ADIC comes a week after Apollo agreed to buy a nearly 10% stake in Mubadala Capital, the alternative asset manager subsidiary of Mubadala Investment Co., Abu Dhabi's sovereign wealth fund.
Other strategic partners in the new platform include European insurance group Athora, Japanese lender Norinchukin Bank, Standard Chartered and Aranda Principal Strategies, a U.S. credit investor, Apollo said in an announcement.
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