Apollo Global Management (NYSE: APO) has launched European Credit Company (ECC), a platform focused exclusively on performing credit in Europe. ECC will provide more than €10 billion in lending capacity as a long-term financing partner for corporate and asset-backed lending across the region. Apollo says the platform will address unprecedented financing needs driven by Europe’s industrial renaissance.
A consortium of long-term institutional investors backs ECC. The consortium includes Apollo, Abu Dhabi Investment Council (ADIC), Athora, Norinchukin Bank and Standard Chartered. ECC will finance large and mid-market opportunities, working with companies, sponsors and owners of real assets, including infrastructure and real estate.
CEO Giacomo Petrobelli and Chairman Christian Meissner will lead the platform. Both are veterans of the European financial services industry. ECC will originate assets directly and source them through strategic partnerships with other European financial institutions.