Adic joins Apollo-backed European lending platform with EUR 10 bn+ capacity

Abu Dhabi Investment Council (Adic) is backing a new Apollo-led European lending platform with more than EUR 10 bn in financing capacity, adding to the emirate's growing exposure to European private credit. Adic is among a group of global investors in the European Credit Company (ECC), which will finance businesses and infrastructure projects across the continent, according to an Apollo statement. The size of Adic’s investment wasn’t disclosed.

REMEMBER- Apollo and Abu Dhabi have a long history: Mubadala and Apollo have worked together on private-market financing since 2020, starting with a USD 12 bn financing partnership and later launching a USD 2.5 bn private credit joint venture in 2023. Just last week, Apollo agreed to take a minority stake in Mubadala Capital, with incoming shareholders expected to commit a combined USD 5 bn to its investment strategies.

And there’s already a European credit connection: A private credit joint venture between Mubadala and Abu Dhabi investment firm Alpha Dhabi acquired a USD 600 mn portfolio of European loans managed by Apollo in December, bringing the venture’s deployed capital to USD 1.6 bn.

Why it matters: Apollo sees a growing financing potential in Europe as the continent invests in energy, defense, and digital infrastructure. The new platform gives Adic exposure to that demand through corporate and asset-backed lending rather than direct equity investments in the businesses and projects being financed.

What’s the plan? The ECC will lend to large and mid-sized European businesses, as well as infrastructure and real estate owners, sourcing prospects directly through partnerships with European financial institutions and via Apollo’s existing European credit platform.

Who’s behind it? Apollo funds and affiliates lead the investor group, alongside ins. investor Athora, Japan’s Norinchukin Bank, Standard Chartered, and Singapore-based Aranda Principal Strategies. The ECC is headed by CEO Giacomo Petrobelli and Chairman Christian Meissner, with a presence in Frankfurt, Jersey, London, Luxembourg, and Milan, and plans to expand further.