Mubadala's Adic Backs Apollo-Launched European Credit Company With €10 Billion Capacity

ECC will have lending capacity of €10 billion ($11 billion). Apollo said in a statement that the company will finance large and mid-market opportunities, working with companies, sponsors and owners of real assets including infrastructure and real estate. Other backers include Athora, Norinchukin Bank, Standard Chartered and Aranda Principal Strategies. The size of Adic's investment was not disclosed.

ECC is led by chief executive Giacomo Petrobelli and chairman Christian Meissner. It has offices in Frankfurt, Jersey, London, Luxembourg and Milan and plans to expand into further markets in the coming quarters.

The investment extends Adic's move into private credit, which AGBI has previously reported as one of the council's focus areas for 2026 alongside infrastructure. Set up in 2007, Adic targets private equity, capital solutions, real assets, public markets and secondaries.

The deal also sits alongside a run of technology bets by the wider Mubadala group. In September Adic took part in a multi-billion-dollar funding round for Nscale, the London-based AI data centre operator, to support its international expansion. Mubadala group chief executive Khaldoon Al Mubarak said in January that the $330 billion fund was looking for opportunities in AI and robotics, and the group backed San Francisco-based AI infrastructure company Crusoe in its $600 million round in December 2024.

For readers tracking Gulf capital, the ECC stake shows Abu Dhabi sovereign money spreading across both sides of the infrastructure build-out: equity in AI compute providers and credit lines that fund infrastructure and real assets. Private credit has become a growing source of financing for data centres and energy projects in Europe and the US, and a lending platform with backing from banks, insurers and sovereign investors positions Apollo to compete for that business.