Former senator Daschle joins Apollo BDC

A year and a half after the former Democratic Senate Majority Leader was voted out of office, Apollo Investment Corp. welcomes him to their board of directors.

Former Democratic Senator Tom Daschle, who was voted out of office by South Dakota voters after 25 years of serving the state last fall, has joined the board of directors at Apollo Investment Corporation.

Senator Daschle is currently the Special Policy Advisor in the Washington, DC law and lobbying firm Alston & Bird, where he advises clients on public policy issues, including financial services, health care, energy and trade.

Daschle was elected to the US House of Representatives in 1978, where he served four terms. He was elected to the Senate in 1986, and re-elected in 1992 and 1998.

In his first year as senator, Daschle was appointed to the powerful Senate Finance Committee, an unusual honor for a freshman. He became Senate Minority Leader in 1994 and Senate Majority Leader when Democrats briefly took control of the legislative body from 2001 to 2002.

In 2004 Daschle was narrowly defeated in a bitter battle for re-election by Republican John Thune. The upset left many political observers shocked that voters would oust a long-serving, powerful senator.

Daschle’s appointment brings the total number of Apollo board members to eight.

Apollo Investment Corp, an affiliate of Apollo Management, was launched in a 2004 IPO that raised $930 million (€750 million). The publicly traded business development unit primarily makes debt investments in middle-market companies alongside private equity sponsors.