- Apollo launched European Credit Company (ECC), a platform with more than €10B (about $11.2B) of lending capacity for performing credit in Europe.
- ECC will lend across corporate, asset-backed, infrastructure and real estate markets in the large and mid-market segments.
- Backers include the Abu Dhabi Investment Council, Athora, Norinchukin Bank, Standard Chartered and Aranda Principal Strategies.
- The ADIC backing follows Apollo's agreement a week earlier to buy a nearly 10% stake in Mubadala Capital.
- Giacomo Petrobelli is chief executive officer of ECC and Christian Meissner is its chairman.
Quotes
“We aim to build ECC into a premier pan-European credit platform, focused exclusively on the region, with deep local relationships, differentiated sourcing and flexible solutions that span all credit types”
“The Global Industrial Renaissance is creating tremendous financing needs around the world that are acutely felt in Europe, whether it's energy transition and transmission, defense, or digital and traditional infrastructure”