Apollo Investment shakes up senior staff

The publicly listed affiliate of mega-buyout firm Apollo Global Management has promoted two senior executives as the result of its chairman stepping down from his role as CEO.

Apollo Investment Corporation, the NASDAQ-listed business development affiliate of Apollo Global Management, has shuffled its senior management.

Chairman and chief executive John Hannan has relinquished his role as CEO to James Zelter, who was previously president and chief operating officer. Zelter also has been appointed to Apollo Investment’s board of directors.

Hannan’s reason for stepping down as CEO were undisclosed.

The roles of president and chief operating officer will be taken over Patrick Dalton who has been promoted from his role as executive vice president.

Apollo Investment portfolio is principally invested in mid-market private companies and occasionally invests in public companies. The firm invests primarily in mezzanine and senior secured loans and equity of its portfolio companies.