Apollo Diversified Credit Fund
CRDIX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Kevin Alan Shields
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- United States of America
- IPO Date
- Apr 3, 2017
- CIK
- 0001676197
- Website
- apollo.com
- Similar Companies
- Business
- Apollo Diversified Credit Fund (CRDIX) is a continuously offered, diversified, closed-end management investment company operated as an interval fund under the 1940 Act, seeking to generate returns comprised of current income and capital appreciation through a multi-asset approach across private and public credit markets. The Fund invests at least 80% of its managed assets in credit-related investments, including fixed income securities such as investment grade and high-yield debt; floating rate securities encompassing senior loans and structured credit; other debt instruments; and derivatives including futures, forward contracts, credit default swaps, and total return swaps. It employs a dynamic asset allocation process across four primary strategy pillars: corporate direct lending targeting large-scale corporate originations and sponsor-backed issuers via proprietary sourcing channels with a long-term allocation target of 40-60%; asset-backed lending focusing on origination channels collateralized by tangible assets with a target of 5-20%; performing credit pursuing liquid senior secured corporate and high-quality structured credit opportunities with a target of 25-35%; and dislocated credit opportunistically capturing stressed performing assets with a target of 0-20%. Founded on April 3, 2017, and managed by Apollo Capital Credit Adviser LLC (a subsidiary of Apollo Global Management, Inc.) since its acquisition on May 2, 2022, the Fund is headquartered at 9 West 57th Street, New York, New York, with portfolio exposure primarily in North America (77%) and Europe (22%). As of February 28, 2025, the Fund maintained managed assets of $1.4 billion, leverage of 10.1%, 172 portfolio companies, a weighted average yield of 8.8%, 86.8% floating rate exposure, and 92.4% senior secured investments, delivering a Class I share NAV return of 0.96% for the month, 1.60% YTD, and 11.16% over one year. Recent developments include the Fund's quarterly repurchase offer notification filed on March 27, 2025, pursuant to Rule 23c-3 for at least 5% of shares outstanding; sustained quarterly distributions with a Q4 2024 annualized rate of 9.15% and last twelve months' rate of 9.10% for Class I shares (reported via 1099-DIV); and a strategic partnership with Securitize launched in January 2025 to introduce the tokenized Apollo Diversified Credit Securitize Fund (ACRED) as a feeder fund, accumulating $71.8 million in assets to enhance investor access via blockchain-based demand for its underlying debt securities. The Fund continues to emphasize prudent deployment amid 2025 market volatility from U.S. tariffs and economic indicators, with corporate direct lending comprising 62% of the portfolio across 95 issuers (weighted average EBITDA of $261 million and net LTV of 41%) and recent additions like a diversified auto receivable trust note in asset-backed lending.