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Private Equity

Apollo marks down credit fund as loan stress emerges

privateequitywire

3 months ago

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Apollo has cut the dividend and marked down the value of the portfolio of one of its private credit funds, citing strain in parts of its loan book as interest rate dynamics shift, according to a report by Bloomberg.
MidCap Financial Investment Corp, a business development company focused on direct lending, lowered its quarterly payout to $0.31 a share from $0.38 and wrote down its portfolio by around 3%.
It pointed to weakness in a small number of older investments and a reassessment of long-ter...

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