Key Takeaways
- • Abu Dhabi Investment Council (Adic), the UAE sovereign wealth vehicle wholly owned by Mubadala Investment Company, is backing European Credit Company (ECC), a new European lending platform with €10 billion ($11 billion) of lending capacity.
- • ECC was launched by global alternative asset manager Apollo and is backed by Athora, Norinchukin Bank, Standard Chartered and Aranda Principal Strategies.
- • ECC will finance large and mid-market opportunities, working with companies, sponsors and real asset owners across infrastructure and real estate, according to Apollo.
- • The investment increases Adic's exposure to private credit markets; the size of Adic's stake was not disclosed.
Summary
Abu Dhabi Investment Council (Adic), the UAE sovereign wealth fund wholly owned by Mubadala Investment Company, is investing in European Credit Company (ECC), a new lending business launched by Apollo. The primary report states that the investment increases Adic's exposure to private credit, though further details on the size or terms of its commitment were not provided.
ECC will have lending capacity of €10 billion ($11 billion). According to Apollo's statement, the company will finance large and mid-market opportunities and work with companies, sponsors and real asset owners, including those in infrastructure and real estate. Its other backers include Athora, Norinchukin Bank, Standard Chartered and Aranda Principal Strategies. The business is led by CEO Giacomo Petrobelli and chairman Christian Meissner, and maintains offices in Frankfurt, Jersey, London, Luxembourg and Milan, with plans to expand into additional markets in the coming quarters.
The deal sits within a broader pattern of Adic activity. Adic was set up in 2007 to target private equity, capital solutions, real assets, public markets and secondary investments. In September it invested in a multi-billion-dollar fundraising round for Nscale, a London-based artificial intelligence data centre operator. Mubadala group CEO Khaldoon Al Mubarak said in January that the $330 billion wealth fund was targeting opportunities in AI and robotics, and Mubadala previously backed Crusoe, a San Francisco-based AI infrastructure provider, in its $600 million funding round in December 2024.
ECC will have lending capacity of €10 billion ($11 billion). According to Apollo's statement, the company will finance large and mid-market opportunities and work with companies, sponsors and real asset owners, including those in infrastructure and real estate. Its other backers include Athora, Norinchukin Bank, Standard Chartered and Aranda Principal Strategies. The business is led by CEO Giacomo Petrobelli and chairman Christian Meissner, and maintains offices in Frankfurt, Jersey, London, Luxembourg and Milan, with plans to expand into additional markets in the coming quarters.
The deal sits within a broader pattern of Adic activity. Adic was set up in 2007 to target private equity, capital solutions, real assets, public markets and secondary investments. In September it invested in a multi-billion-dollar fundraising round for Nscale, a London-based artificial intelligence data centre operator. Mubadala group CEO Khaldoon Al Mubarak said in January that the $330 billion wealth fund was targeting opportunities in AI and robotics, and Mubadala previously backed Crusoe, a San Francisco-based AI infrastructure provider, in its $600 million funding round in December 2024.
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