Apollo launches €10 billion credit platform in Europe — CNBC

Apollo Global Management has launched European Credit Company, a private credit platform for the European market with lending capacity of more than €10 billion, or $11.2 billion. The platform’s backers include the Abu Dhabi Investment Council (ADIC), CNBC reports.

Business and asset lending

European Credit Company will invest in loans to large and mid-sized businesses. Its activities will include corporate lending, asset-backed lending, and loans to owners of real assets in the infrastructure and real estate sectors.

Giacomo Petrobelli became chief executive officer of the new venture, while Christian Meissner became its chairman. Petrobelli said the platform should seize the opportunity to finance Europe’s long-term growth goals using global sources of capital.

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Platform partners

In addition to ADIC, the strategic partners of European Credit Company include European insurance group Athora, Japanese lender Norinchukin Bank, Standard Chartered bank, and U.S. credit investor Aranda Principal Strategies.

ADIC’s support came a week after Apollo agreed to acquire nearly 10% of Mubadala Capital, the alternative asset management unit of Mubadala Investment Co., Abu Dhabi’s sovereign wealth fund. Apollo President Jim Zelter linked Europe’s financing needs to the energy transition, energy transmission, defense, digital and traditional infrastructure.