Apollo Global Management is launching European Credit Co (ECC), a €10bn ($11.2bn) private credit platform backed by investors including Abu Dhabi Investment Council, according to a report by Bloomberg.
The platform is starting with capital from Apollo vehicles and investors including Athora, Norinchukin Bank, Standard Chartered and Aranda Principal Strategies. Giacomo Petrobelli will lead the business, with former Credit Suisse investment banking chief Christian Meissner serving as chairman.
ECC will provide asset-based finance and corporate lending to midsize and large businesses, financial sponsors, and owners of infrastructure and real estate assets. The launch expands Apollo’s European financing activities as borrowers seek funding beyond banks and public bond markets.
Apollo already manages approximately $250bn of assets in Europe. ECC has offices in Frankfurt, Jersey, London, Luxembourg and Milan, with further locations planned.
