Key Takeaways
- • Apollo Global Management is launching European Credit Co., a private-credit platform with a target of €10 billion ($11.2 billion), according to a statement Apollo issued and Bloomberg reviewed.
- • The ADIC (Abu Dhabi Investment Council) is among the backers of the new European lending arm.
- • Veteran investment banker Christian Meissner will serve as chairman of the platform.
- • Initial capital comes from Apollo vehicles and other investors including Athora, Norinchukin Bank, Standard Chartered Plc and Aranda Principal Strategies.
Summary
Apollo Global Management Inc. is launching a European private-credit arm, European Credit Co., with an initial target of €10 billion ($11.2 billion), according to a statement from the New York-based firm that Bloomberg reviewed. The platform is backed by the Abu Dhabi Investment Council, which is named among its backers alongside capital from Apollo vehicles and other sources.
The firm's statement identifies additional initial capital providers including Athora, Norinchukin Bank, Standard Chartered Plc and Aranda Principal Strategies. The combination of insurance-linked, banking and sovereign-linked investors points to a mix of institutional sources behind the vehicle's launch.
Apollo has named Christian Meissner, a veteran investment banker with long standing in the region, as chairman of the new entity. His appointment is positioned as a key element of the platform's European leadership.
The source article was not fully available, so this summary relies on the launch announcement and the limited details reported by Bloomberg. Further details on fund structure, deployment strategy and fee terms were not available in the source material.
The firm's statement identifies additional initial capital providers including Athora, Norinchukin Bank, Standard Chartered Plc and Aranda Principal Strategies. The combination of insurance-linked, banking and sovereign-linked investors points to a mix of institutional sources behind the vehicle's launch.
Apollo has named Christian Meissner, a veteran investment banker with long standing in the region, as chairman of the new entity. His appointment is positioned as a key element of the platform's European leadership.
The source article was not fully available, so this summary relies on the launch announcement and the limited details reported by Bloomberg. Further details on fund structure, deployment strategy and fee terms were not available in the source material.
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