Profile: Apollo Investment Corp (AINV.O)
17 Jun 2019
Apollo Investment Corporation, incorporated on February 2, 2004, is a closed-end, externally managed, non-diversified management investment company. The Company's investment objective is to generate current income and capital appreciation. It invests primarily in various forms of debt investments, including secured and unsecured debt, loan investments and/or equity in private middle-market companies. It may also invest in the securities of public companies and in structured products and other investments, such as collateralized loan obligations (CLOs) and credit-linked notes (CLNs). Its portfolio also includes equity interests, such as common stock, preferred stock, warrants or options. While it primarily invests in investments in the United States secured and unsecured loans, other debt securities and equity, it may also invests a portion of the portfolio in other investment opportunities, including foreign securities and structured products. Most of the debt instruments the Company invests in are unrated or rated below investment grade, which is often an indication of size, credit worthiness and speculative nature relative to the capacity of the borrower to pay interest and principal.
As of March 31, 2016, the Company's portfolio consisted of 89 portfolio companies. The Company provides capital to middle-market companies in various industries. It generally seeks to target companies that generate positive free cash flows or that may support debt investments with strong asset coverage, and it may provide debtor-in-possession or reserve financing. It invests in various sectors, including aerospace and defense; aviation and consumer transport; broadcasting and subscription; business services; chemicals, plastics and rubber; consumer goods-durable; consumer services; containers, packaging and glass; diversified investment vehicles, banking, finance, real estate; education; energy-electricity; energy-oil and gas; environmental industries; food and grocery; healthcare and pharmaceuticals; high tech industries; hotel, gaming, leisure, restaurants; insurance; manufacturing, capital equipment; media-diversified and production; metals and mining; retail; telecommunications; transportation-cargo, distribution, and utilities-electric. It may invest, to the extent permitted by law, in the securities and instruments of other investment companies and in private funds. It may also co-invest on a concurrent basis with its affiliates, subject to compliance with applicable regulations and its allocation procedures. Apollo Investment Management, L.P. is the investment advisor of the Company.
Apollo Investment Corp
9 W 57th St
NEW YORK NY 10019-2701