WASHINGTON (dpa-AFX) - Apollo Global Management, Inc. (APO), on Monday, announced the launch of European Credit Company, a platform focused exclusively on European performing credit, including corporate and asset-backed lending. This launch comes with more than 10 billion euros in lending capacity to serve as a long-term financing partner across the region.
The European Credit Company, which was established to help address unprecedented financing needs in Europe driven by the industrial renaissance, would finance both large and mid-market opportunities, working with companies, sponsors and real asset owners, including infrastructure and real estate, to help capitalize on their unique business needs and support growth in local economies.
The company is backed by long-term capital investments led by Apollo funds and affiliates, as well as Abu Dhabi Investment Council, Athora, Norinchukin Bank, Standard Chartered and Aranda Principal Strategies.
ECC, today, has a presence in Frankfurt, Jersey, London, Luxembourg City and Milan, with plans to expand to additional markets in the coming quarters.
APO shares last traded on the NYSE at $115.84, down 2.29 percent.
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