Abu Dhabi Investment Council (ADIC) is investing in a new Apollo-led European lending platform with more than €10B in financing capacity, extending Abu Dhabi’s exposure to the continent’s expanding private credit market.
ADIC joins a group of international investors backing European Credit Company (ECC), which will provide financing to businesses and infrastructure projects across Europe according to an Apollo statement.
The size of ADIC’s commitment was not disclosed.
Growing Apollo-Abu Dhabi partnership
The investment builds on an established relationship between Apollo and Abu Dhabi.
Mubadala and Apollo have partnered in private-market financing since 2020, beginning with a $12B financing partnership before launching a $2.5B private credit joint venture in 2023.
Last week, Apollo also agreed to acquire a minority stake in Mubadala Capital, with incoming shareholders expected to commit a combined $5B to its investment strategies.
Abu Dhabi investors already have exposure to Apollo-managed European lending assets.
In December, a private credit joint venture between Mubadala and Alpha Dhabi acquired a $600M portfolio of European loans managed by Apollo, taking the venture’s deployed capital to $1.6B.
Financing Europe’s infrastructure ambitions
The ECC launch comes as Europe faces substantial financing requirements across energy, defence and digital infrastructure.
For ADIC, the platform provides access to this demand through corporate and asset-backed lending, rather than direct equity ownership in the underlying businesses and projects.
The company will target large and mid-sized European businesses, alongside infrastructure and real estate owners. It plans to source lending opportunities directly through partnerships with European financial institutions and Apollo’s existing European credit platform.
International investor base
Apollo funds and affiliates are leading the investor group alongside insurance investor Athora, Japan’s Norinchukin Bank, Standard Chartered and Singapore-based Aranda Principal Strategies.
ECC will be led by CEO Giacomo Petrobelli and chairman Christian Meissner. It has offices in Frankfurt, Jersey, London, Luxembourg and Milan, with further expansion planned.
The platform adds another institutional channel for Abu Dhabi capital to participate in European credit markets, while deepening Apollo’s existing financing relationships across the emirate.
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