Apollo launches $11 billion private credit platform, backed by Abu Dhabi

Apollo Global Management has launched a €10 billion European private credit platform backed by major global investors, including support from Abu Dhabi. The move targets Europe's growing demand for private credit as banks pull back from lending, positioning Apollo to compete with rivals such as Ares and Blackstone in the region's rapidly expanding direct lending market. The platform will provide financing to mid-sized and large companies across Europe, where private credit assets under management have surged in recent years. The backing from Abu Dhabi underscores the continued flow of Middle Eastern sovereign wealth into alternative assets. Investors should watch for the platform's first deployments, additional anchor investors, and whether Apollo expands the strategy into other regions or adjacent private credit segments.