[Federal Register Volume 89, Number 247 (Thursday, December 26, 2024)]
[Notices]
[Pages 105167-105169]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-30655]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 35423; File No. 812-15538]
MidCap Financial Investment Corporation, et al.
December 18, 2024.
AGENCY: Securities and Exchange Commission (``Commission'' or ``SEC'').
ACTION: Notice.
-----------------------------------------------------------------------
Notice of application for an order under sections 17(d) and 57(i)
of the Investment Company Act of 1940 (the ``Act'') and rule 17d-1
under the Act to permit certain joint transactions otherwise prohibited
by sections 17(d) and 57(a)(4) of the Act and rule 17d-1 under the Act.
Summary of Application: Applicants request an order to permit
certain business development companies (``BDCs'') and closed-end
management investment companies to co-invest in portfolio companies
with each other and with certain affiliated investment entities.
Applicants: MidCap Financial Investment Corporation, Apollo Debt
Solutions BDC, Apollo Diversified Credit Fund, Apollo S3 Private
Markets Fund, Middle Market Apollo Institutional Private Lending,
Apollo Investment Management, L.P., Apollo Credit Management, LLC,
Apollo Capital Credit Adviser, LLC, Apollo S3 RIC Management, L.P., AA
Direct, L.P., AA Infrastructure Fund 1 Ltd., ACE Credit Fund, L.P.,
AGRE Debt Fund I, L.P., AGRE U.S. Real Estate Fund, L.P., Amissima
Diversified Income ICAV, AMN Loan Fund, L.P., AP Kent Credit Master
Fund, L.P., Apollo Accord Master Fund II, L.P., Apollo Accord Master
Fund III, L.P., Apollo Accord Fund III B, L.P., Apollo Accord Fund IV,
L.P., Apollo A-N Credit Fund, L.P., Apollo Asia Real Estate Fund II,
L.P., Apollo Atlas Master Fund, LLC, Apollo Chiron Credit Fund, L.P.,
Apollo Commercial Real Estate Finance, Inc., Apollo Credit Master Fund
Ltd., Apollo Credit Opportunity Fund III LP, Apollo Credit Strategies
Master Fund Ltd., Apollo European Principal Finance Fund III (Dollar
A), L.P., Apollo Hybrid Value Fund, L.P., Apollo Hybrid Value Fund II,
L.P., Apollo Impact Mission Fund, L.P., Apollo Infrastructure
Opportunities Fund II, L.P., Apollo Investment Fund IX, L.P., Apollo
Investment Fund VII, L.P., Apollo Investment Fund VIII, L.P., Apollo
Lincoln Fixed Income Fund, L.P., Apollo Moultrie Credit Fund, L.P.,
Apollo Natural Resources Partners II, L.P., Apollo Natural Resources
Partners III, L.P., Apollo Navigator Aviation Fund I, L.P., Apollo
Revolver Fund, L.P., Apollo Strategic Origination Partners, L.P.,
Apollo Tactical Value SPN Investments, L.P., Apollo Total Return Master
Fund L.P., Apollo Tower Credit Fund, L.P., Apollo U.S. Real Estate Fund
II L.P., Apollo U.S. Real Estate Fund III, L.P., Apollo/Cavenham
European Managed Account II, L.P., Athene Holding Ltd., Athora Lux
Invest S.C.Sp, Financial Credit Investment II, L.P., Financial Credit
Investment III, L.P., Financial Credit Investment IV, L.P., MidCap
FinCo Holdings Limited, NNN Investor 1, L.P., Athora Lux Invest NL
S.C.Sp, ACE Credit Management, LLC, ACF Europe Management, LLC, ACREFI
Management, LLC, Aegon Ireland plc, AGRE-CRE Debt Manager, LLC, AGRE NA
Management, LLC, AP Kent Management, LLC, Apollo Accord Management II,
LLC, Apollo Accord Management III, LLC, Apollo Accord Management III B,
L.P., Apollo Accord Management IV, L.P., Apollo A-N Credit Management,
LLC, Apollo Asia Management II, L.P., Apollo Asset Management Europe
LLP, Apollo Atlas Management, LLC, Apollo Capital Management, L.P.,
Apollo Centre Street Management, LLC, Apollo Centre Street Partnership,
L.P., Apollo Chiron Management, LLC, Apollo Credit Management (CLO),
LLC, Apollo Credit Opportunity Management III, LLC, Apollo EPF
Management III, LLC, Apollo Europe Management III, LLC, Apollo European
Senior Debt Management, LLC, Apollo European Strategic Management,
L.P., Apollo Global Real Estate Management, L.P., Apollo Hercules
Management, LLC, Apollo Hercules Partners, L.P., Apollo Hybrid Value
Management, L.P., Apollo Hybrid Value Management II, L.P., Apollo
Impact Mission Management, L.P., Apollo India Credit Opportunity
Management, LLC, Apollo Infrastructure Opportunities Management II,
L.P., Apollo Investment Management Europe LLP, Apollo Kings Alley
Credit Fund Management, LLC, Apollo Lincoln Fixed Income Management,
LLC, Apollo Lincoln Private Credit Management, LLC, Apollo Management
International LLP, Apollo Management IX, L.P., Apollo Management VII,
L.P., Apollo Management VIII, L.P., Apollo Moultrie Credit Fund
Management LLC, Apollo NA Management II, LLC, Apollo NA Management III,
LLC, Apollo Navigator Management I, LLC, Apollo Oasis Management, LLC,
Apollo Origination Management, L.P., Apollo PPF Credit Strategies
Management, LLC, Apollo Oasis Partners, L.P., Apollo Origination
Partnership, L.P., Apollo Palmetto Strategic Partnership, L.P., Apollo
Revolver Capital Management, LLC, Apollo ST Fund Management LLC, Apollo
Strategic Origination Management, L.P., Apollo Tactical Value SPN
Management, LLC, Apollo Tower Credit Management, LLC, Apollo Union
Street Management, LLC, Apollo Union Street Partners, L.P., Apollo Zeus
Strategic Management, LLC, Apollo/Cavenham EMA Management II, LLC,
Financial Credit Investment II Manager, LLC, Financial Credit
Investment III Manager, LLC, Financial Credit Investment IV Manager,
LLC, Apollo Investment Management Europe (Luxembourg) S.a r.l., Apollo
Total Return Management LLC, Apollo
[[Page 105168]]
Commodities Management, L.P., Apollo Insurance Solutions Group LP,
Apollo MidCap US Direct Lending 2019, L.P., NNN Investor 2 (Auto),
L.P., NNN Opportunities Fund, L.P., Apollo PPF Opportunistic Credit
Partners (Lux), SCSp, Apollo PPF Credit Strategies, LLC, Apollo PPF
Credit Management, LLC, Apollo Co-Investment Capital Management, LLC,
Alteri Investments II, SCSp, Merx Aviation Finance, LLC, Apollo Accord+
Fund (Lux), SCSp, Apollo Accord+ Offshore Fund, L.P., Apollo Accord+
Fund, L.P., Apollo Revolver Fund II (Offshore), L.P., Apollo Revolver
Fund II, L.P., Apollo Revolver Fund II (ATH), L.P., Apollo Accord+
Management, L.P., Apollo Revolver Management II (ATH), L.P., Apollo
Revolver Management II, L.P., Apollo Accord Fund V, L.P., Apollo
Investment Fund X, L.P., Apollo Total Return Fund--Investment Grade,
L.P., Apollo Accord Management V, L.P., Apollo Management X, L.P.,
Apollo Total Return Fund--Investment Grade Management, L.P., ACMP
Holdings, LLC, Apollo Aligned Alternatives, L.P., Redding Ridge Asset
Management, LLC, Apollo Asset-Backed Finance Fund, L.P., Apollo
Origination Partnership II (Levered), L.P., Apollo Origination
Partnership II (Unlevered), L.P., Apollo Delphi Fund, L.P., Apollo
Credit Strategies Absolute Return Fund, L.P., Apollo European Principal
Finance Fund IV (Dollar A), L.P., Apollo European Principal Finance
Fund IV (Dollar B), L.P., Apollo European Principal Finance Fund IV
(Euro B1), L.P., Apollo European Principal Finance Fund IV (Lux Euro
B2), SCSp, Apollo EPF Management IV, L.P., Apollo Accord Offshore Fund
V, L.P., Apollo Accord Fund V (Lux), SCSp, Apollo Clean Transition
Capital Overseas II, L.P., Apollo Clean Transition Capital Fund, L.P.,
Apollo Calliope Fund, L.P., Apollo Digital Origin Partners, L.P.,
Apollo Starmoon CEPF Co-Invest (Overseas), L.P., Apollo Infrastructure
Opportunities Fund II (Overseas), L.P., Apollo Infrastructure
Opportunities Fund II (TE 892), L.P., Apollo Infrastructure
Opportunities Fund II (Lux), SCSp, Apollo Infrastructure Opportunities
Fund III (Overseas), L.P., Apollo Infrastructure Opportunities Fund III
(TE 892), L.P., Apollo Infrastructure Opportunities Fund III (Lux),
SCSp, Apollo Infrastructure Opportunities Fund III, L.P., RRE 17 Loan
Management Designated Activity Company, RRE 16 Loan Management
Designated Activity Company, RRE 9 Loan Management Designated Activity
Company, RRE 12 Loan Management Designated Activity Company, RRE 8 Loan
Management Designated Activity Company, RRE 7 Loan Management
Designated Activity Company, RRE 10 Loan Management Designated Activity
Company, RRE 6 Loan Management DAC, RRE 15 Loan Management Designated
Activity Company, RRE 2 Loan Management Designated Activity Company,
RRE 11 Loan Management Designated Activity Company, RRE 3 Loan
Management Designated Activity Company, RRE 5 Loan Management
Designated Company, RRE 1 Loan Management Designated Activity Company,
RR 1 Ltd., RR 14 Ltd., RR 15 Ltd., RR 16 Ltd., RR 17 Ltd., RR 18 Ltd.,
RR 19 Ltd., RR 2 Ltd., RR 20 Ltd., RR 21 Ltd., RR 22 Ltd., RR 23 Ltd.,
RR 24 Ltd., RR 25 Ltd., RR 26 Ltd., RR 27 Ltd., RR 4 Ltd., RR 5 Ltd.,
RR 6 Ltd., RR 7 Ltd., RR 8 Ltd., RR Berbere 2 Ltd., RR Bhut Jolokia 3
Ltd., RR Cayenne 4 Ltd., RR Poblano 4 Ltd., RR Reaper Brown Carolina 2
Ltd., RR Reaper Brown Carolina 3 Ltd., RR Tabasco 1 Ltd., AP Tundra
Holdings LLC, ALM 2020, Ltd., AOP Finance Partners, L.P., Athora Lux
Invest SCSP Duration Fund, Mercer Multi-Asset Credit Fund, Apollo
Credit Funds ICAV--Apollo Helius Multi-Credit Fund I, AAA Aviation
Holdings, L.P., AA Pencil Holdings, L.P., AA Tundra Investor, L.P.,
Aspen American Insurance Company, Aspen Specialty Insurance Company,
Apollo Credit Secondaries Fund I, L.P., Apollo US Broadly Syndicated
Loans Fund, Apollo Opportunistic Credit Fund, MMJV LLC, Apollo S3
Equity & Hybrid Solutions Fund, L.P., Apollo S3 Equity & Hybrid
Solutions Offshore Fund, L.P., Apollo S3 Equity & Hybrid Solutions Fund
(TE 892), L.P., Apollo S3 Equity & Hybrid Solutions Offshore Fund
(Lux), SCSp, AA MMF 1 HoldCo LP, ACE Credit Allocation Fund I, AM-EDL
(Lux) SCSP, Apollo Accord Fund VI (Lux), SCSp, Apollo Accord Fund VI,
L.P., Apollo Accord+ II Fund, L.P., Apollo Accord+ II Offshore Fund,
L.P., Apollo Alster Lending Fund (Lux) SCSP, Apollo Broad Middle
Markets Lending Fund, L.P., Apollo Credit Strategies IDF, LP, Apollo
Debt Solutions IDF, LP, Apollo European Direct Lending SCSP, Apollo
European Private Credit (Master) SCSp, Apollo Excelsior Co-Invest,
L.P., Apollo Excelsior, L.P., Apollo GLDC Fund, L.P., Apollo Jade
Partnership, L.P., Cervus Loan Origination III, MICAD Account (Cayman),
LP, Apollo Libra Credit Opportunities Fund, L.P., Apollo PPF Credit
Strategies (Lux), SCSP, Apollo S3 Private Markets (Master) SCSP, Apollo
S3 Credit Solutions Fund II, L.P., RR 12 LTD, RR 3 LTD, RR 28 LTD, RR
29 LTD, RR 30 LTD, RR 31 LTD, RR 32 LTD, RR 33 LTD, RR Shishito 1 LTD,
RRE 18 Loan Management Designated Activity Company, RRE 19 Loan
Management Designated Activity Company, RRE 20 Loan Management
Designated Activity Company, RRE 21 Loan Management Designated Activity
Company, RRE Portrush 1 Designated Activity Company, RRX 5 LTD, RRX 6
LTD, RRX 7 LTD, RRAM Beta 1, Ltd., RRAM Beta 1 Tax Subsidiary Inc., RRE
22 Loan Management Designated Activity Company, RRE Belfry 1 Designated
Activity Company, Apollo M-EDL Management, L.P., Apollo Alster
Management, LLC, Apollo European Direct Lending Management, L.P.,
Apollo Excelsior Management, L.P., Apollo Capital Markets Management,
L.P., Redding Ridge Asset Management (UK) LLP, Apollo S3 Investment
Management, L.P, Lord Abbett Flexible Income Fund and Lord Abbett FIF
Advisor LLC.
Filing Dates: The application was filed on January 5, 2024, and
amended on June 26, 2024, October 11, 2024, and December 9, 2024.
Hearing or Notification of Hearing: An order granting the requested
relief will be issued unless the Commission orders a hearing.
Interested persons may request a hearing on any application by emailing
the SEC's Secretary at [email protected] and serving the
Applicants with a copy of the request by email, if an email address is
listed for the relevant Applicant below, or personally or by mail, if a
physical address is listed for the relevant Applicant below. Hearing
requests should be received by the Commission by 5:30 p.m. on January
13, 2025 and should be accompanied by proof of service on the
Applicants, in the form of an affidavit or, for lawyers, a certificate
of service. Pursuant to rule 0-5 under the Act, hearing requests should
state the nature of the writer's interest, any facts bearing upon the
desirability of a hearing on the matter, the reason for the request,
and the issues contested. Persons who wish to be notified of a hearing
may request notification by emailing the Commission's Secretary at
[email protected].
ADDRESSES: The Commission: [email protected]. Applicants: David
Blass at [email protected] and Steven Grigoriou at
[email protected].
FOR FURTHER INFORMATION CONTACT: Laura L. Solomon, Senior Counsel, or
Terri G. Jordan, Branch Chief, at (202) 551-6825 (Division of
Investment Management, Chief Counsel's Office).
SUPPLEMENTARY INFORMATION: For Applicants' representations, legal
[[Page 105169]]
analysis, and conditions, please refer to Applicants' third amended and
restated application, dated December 9, 2024, which may be obtained via
the Commission's website by searching for the file number at the top of
this document, or for an Applicant using the Company name search field,
on the SEC's EDGAR system. The SEC's EDGAR system may be searched at,
https://www.sec.gov/edgar/searchedgar/legacy/companysearch.html. You
may also call the SEC's Public Reference Room at (202) 551-8090.
For the Commission, by the Division of Investment Management,
under delegated authority.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2024-30655 Filed 12-23-24; 8:45 am]
BILLING CODE 8011-01-P