Apollo Tactical Income Fund Inc.
AIF
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Cindy Zee Michel
- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 9 West 57th Street New York City NY United States of America 10019
- IPO Date
- Feb 26, 2013
- CIK
- 0001526697
- Website
- agmfunds.com
- Similar Companies
- Business
- Apollo Tactical Income Fund Inc. (NYSE: AIF) is a diversified, closed-end management investment company that seeks current income with a secondary objective of capital preservation through investments in senior loans, high yield corporate bonds, and other credit instruments of varying maturities. Under normal market conditions, the Fund invests at least 80% of its managed assets, including leverage, in credit instruments and investments with similar economic characteristics, such as floating rate senior loans and below-investment-grade debt, employing a conservative credit selection approach focused on collateral coverage, structural seniority, credit fundamentals, and stable companies with positive cash flow. Apollo Credit Management, LLC, an affiliate of Apollo Global Management, serves as the Fund's investment adviser. The Fund formed in 2013 and is headquartered in New York, New York. The Fund targets income generation by dynamically allocating assets among credit types based on absolute and relative value considerations, catering to investors seeking yield from non-investment-grade fixed income markets primarily in the United States. In a major strategic development, the Fund merged with and into MidCap Financial Investment Corp. (NYSE: MFIC) alongside Apollo Senior Floating Rate Fund Inc. (NYSE: AFT), with shareholder approvals secured in May and June 2024 and the transaction completing on July 22, 2024, after which AIF shares ceased trading. This reorganization integrated AIF's portfolio into MFIC, enhancing scale and distribution capabilities under Apollo's management framework.