Writedowns and Writeups Through Apollo Investment Corp’s Eyes.
Mega-buyout firm Apollo Management has a lesser known BDC outfit called Apollo Investment Corp. (Nasdaq: AINV), which invests in CLOs, sub debt, second lien bank debt and warrants of leveraged buyouts. But the interesting part of Apollo Investment is its co-investments. The firm makes equity investments alongside a number of well-known private equity firms. Because the firm is public, its quarterly report includes a number of not-otherwise disclosed write-downs and write-ups on portfolio companies of firms like GTCR Golder Rauner, Code Hennessy, Wasserstein & Co. and Madison Dearborn Partners. UPDATE: The mark-to-market values which the firm holds its companies at are provided by independent third parties, not the general partners or Apollo itself, a representative for the firm said. Follow the jump to view the second quarter write-downs and write-ups on the 23 LBOs in which AINV has co-invested:
