Key Takeaways
- • Apollo Global Management is launching European Credit Co (ECC), a €10bn ($11.2bn) private credit platform, according to Bloomberg.
- • ECC is seeded with capital from Apollo vehicles and investors including Athora, Norinchukin Bank, Standard Chartered, Aranda Principal Strategies and the Abu Dhabi Investment Council.
- • Giacomo Petrobelli will lead the business, with former Credit Suisse investment banking chief Christian Meissner 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, which already encompass approximately $250bn in assets under management across the region.
Summary
Apollo Global Management is launching European Credit Co (ECC), a private credit platform with €10bn ($11.2bn) in initial capital, according to a report by Bloomberg. The platform is backed by investors including the Abu Dhabi Investment Council. It is starting with capital from Apollo vehicles alongside co-investors Athora, Norinchukin Bank, Standard Chartered and Aranda Principal Strategies.
Giacomo Petrobelli will lead the business. Christian Meissner, formerly investment banking chief at Credit Suisse, will serve 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 reflects growing demand for non-bank financing in Europe, as borrowers look for funding beyond traditional banks and public bond markets. Apollo already manages approximately $250bn of assets in Europe, and the new platform extends its European financing activities.
ECC has offices in Frankfurt, Jersey, London, Luxembourg and Milan, with additional locations planned.
Giacomo Petrobelli will lead the business. Christian Meissner, formerly investment banking chief at Credit Suisse, will serve 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 reflects growing demand for non-bank financing in Europe, as borrowers look for funding beyond traditional banks and public bond markets. Apollo already manages approximately $250bn of assets in Europe, and the new platform extends its European financing activities.
ECC has offices in Frankfurt, Jersey, London, Luxembourg and Milan, with additional locations planned.
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