[Federal Register Volume 87, Number 240 (Thursday, December 15, 2022)]
[Notices]
[Pages 76657-76658]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-27168]


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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 34770; File No. 812-15382]


MidCap Financial Investment Corporation, et al.

December 9, 2022.
AGENCY:  Securities and Exchange Commission (``Commission'' or 
``SEC'').

ACTION:  Notice.

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    Notice of application for an order (``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 amend a 
previous order granted by the Commission that permits 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 Senior 
Floating Rate Fund Inc., Apollo Tactical Income Fund Inc., Apollo Debt 
Solutions BDC, Apollo Diversified Credit Fund, Apollo Investment 
Management, L.P., Apollo Credit Management, LLC, Apollo Capital Credit 
Adviser, LLC, AA Direct, L.P., A-A European Senior Debt Fund, L.P., AA 
Infrastructure Fund 1 Ltd., ACE Credit Fund, L.P., AESI II, L.P., AGRE 
Debt Fund I, L.P., AGRE U.S. Real Estate Fund, L.P., ALM V, Ltd., ALM 
VI, Ltd., ALM VII (R), Ltd., ALM VII (R)-2, Ltd., ALM VII, Ltd., ALM 
VIII, Ltd., ALM XII, Ltd., ALM XIX, Ltd., ALM XVI, Ltd., ALM XVII, 
Ltd., ALM XVIII, Ltd., ALME Loan Funding IV B.V., 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 Humber Partners, L.P., Apollo Humber Management, 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 Kings Alley Credit 
Fund, L.P., Apollo Lincoln Fixed Income Fund, L.P., Apollo Lincoln 
Private Credit 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 Structured Credit Recovery Master Fund IV LP, Apollo 
Strategic Origination Partners, L.P., Apollo Tactical Value SPN 
Investments, L.P., Apollo Total Return Master Fund Enhanced LP, 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 Zeus Strategic Investments, 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 Ltd, 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,

[[Page 76658]]

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 (DE), 
Apollo Strategic Origination Management, L.P., Apollo Structured Credit 
Recovery Management IV LLC, Apollo Tactical Value SPN Management, LLC, 
Apollo Thunder Management, LLC, Apollo Thunder Partners, L.P., Apollo 
Total Return Enhanced 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 
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., and ACMP 
Holdings, LLC.

Filing Dates:  The application was filed on August 31, 2022, and 
amended on December 06, 2022.

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 
3, 2023, and should be accompanied by proof of service on 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, Esq., at [email protected]. Christopher Healey, Esq. 
at [email protected], and Steven Grigoriou, Esq., at 
[email protected].

FOR FURTHER INFORMATION CONTACT:  Bruce R. MacNeil, Senior Counsel, or 
Terri Jordan, Branch Chief, at (202) 551-6825 (Division of Investment 
Management, Chief Counsel's Office).

SUPPLEMENTARY INFORMATION:  For Applicants' representations, legal 
analysis, and conditions, please refer to Applicants' first amended and 
restated application, dated December 6, 2022, 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 
http://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.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2022-27168 Filed 12-14-22; 8:45 am]
BILLING CODE 8011-01-P


