Key facts
- Apollo launched European Credit Company, a €10 billion ($11.2 billion) European credit platform.
- ECC will provide corporate and asset-backed lending to companies, sponsors and real asset owners.
- Backers include Abu Dhabi Investment Council, Athora, Norinchukin, Standard Chartered and Aranda.
- The platform has a presence in Frankfurt, Jersey, London, Luxembourg City and Milan.
- Giacomo Petrobelli is CEO and Christian Meissner is chairman of ECC.
Apollo has launched a €10 billion ($11.2 billion) European credit platform, European Credit Company (ECC), aimed at capturing rising demand for private financing as the continent increases investment in defence, energy and infrastructure. The global asset manager announced the formation on Monday, saying the vehicle will provide corporate and asset-backed lending to companies, sponsors and real asset owners.
The platform is backed by a group of institutional investors: sovereign wealth fund Abu Dhabi Investment Council, European insurance group Athora, Japanese bank Norinchukin, UK-based Standard Chartered and US alternative investment firm Aranda. ECC will operate from Frankfurt, Jersey, London, Luxembourg City and Milan, according to Apollo's statement.
Giacomo Petrobelli will serve as chief executive officer and Christian Meissner as chairman. The platform is designed to work alongside the wider Apollo franchise. "The formation of ECC is driven by a generational opportunity to mobilise global pools of capital to finance Europe's long-term growth agenda," Petrobelli said in the statement.
The launch reflects a broader boom in private credit funds. Rating agency Moody's has predicted that private credit assets under management will exceed $2 trillion in 2026 and approach $4 trillion by 2030. The conversion rate cited in the statement was $1 = 0.8948 euros.