Company Summary: Apollo Asset Backed Credit Company LLC

Business Overview

• Type of Business: Holding company and lending platform specializing in Asset-Backed Finance Assets (ABFAs)
• Founded: September 22, 2023
• Legal Structure: Delaware limited liability company with two separate series (Series I and Series II)
• Primary Operations: Conducts direct operations and manages subsidiaries focusing on:
  • Consumer and Specialty Finance
  • Real Estate Lending
  • Trade Finance and Factoring

Investment Strategy

• Objective: Build a diversified portfolio of high-quality, cash-flow generating asset-backed instruments across economic cycles
• Asset Classes:
  • Consumer finance receivables and loans
  • Residential mortgage loans (including distressed, non-performing, and new-originations)
  • Commercial real estate loans and mortgage-backed securities
  • Hard assets with contracted cash flows (transportation, aviation, solar, infrastructure, agricultural)
  • Financial assets including royalty streams, NAV loans, receivables, and collateralized loan obligations
• Portfolio Management: Willally or mainly invests in Asset-Backed Finance Assets via direct or indirect ownership, focusing on structural protections, cash flow stability, principal protection, and leveraging Apollo’s sourcing and underwriting capabilities

Capital Structure

• Series I and Series II:
  • Each series invests in the same portfolio of ABFAs on a pro-rata basis
  • Series I elected to be taxed as a corporation; Series II as a partnership
• Number of Interests (as of March 31, 2025):
  • Series I:
    • Interests held by non-affiliates: ~1,008,200 (A-I), ~1,200,965 (F-I), 110 (F-S), 110 (P-I), 110 (P-S), ~1,270,891 (T-I), ~1,192,413 (T-S), 5,484 (E), 40 (V)
  • Series II:
    • Interests held by non-affiliates: ~1,656,674 (A-I), ~4,157,468 (F-I), 110 (F-S), 12,865 (P-I), ~3,517,723 (P-S), ~1,060,144 (T-I), ~2,358,660 (T-S), 2,163,201 (E), 40 (V)

Management & Sponsorship

• Operator: Apollo Manager, LLC (wholly owned by Apollo)
• Parent Company: Apollo Asset Management, Inc.
  • Assets Under Management (AUM): $751.0 billion as of December 31, 2024
  • Employees: 3,125 worldwide (as of December 31, 2024)
  • Business Focus: Global alternative asset management, providing returns across investment grade debt to private equity
• Governance: Managed by Apollo’s board of directors and overseen by the Operating Manager with discretion over acquisitions, dispositions, and management policies

Financial and Operational Metrics

• Number of Interests: Over 18 million total interests outstanding across Series I and Series II
• Customers & Investors: Primarily accredited investors participating via private offering; no public market or exchange listings
• Revenue & Income: Specific revenue, net income, or profit figures are not provided in the excerpt; the focus is on structure, strategy, and assets

Offering & Shareholder Details

• Offering Type: Continuous private offering (monthly basis)
• Investor Shares:
  • Different classes with varying fees, commissions, and rights
  • No voting rights for Shareholders; voting vested in V Shares owned by Apollo and affiliates
  • Limited liquidity; no established public market
• Assets & Liabilities: Aimed at maintaining compliance with the Investment Company Act; assets include diverse ABFAs and related instruments

Summary

• A newly formed, sophisticated asset-backed credit platform with a broad strategy across consumer, mortgage, real estate, hard assets, and financial assets
• Managed by Apollo’s experienced platform, with substantial AUM and a focus on structured, high-yield, cash-flow assets
• Focused on targeted, high-return asset classes with risk mitigation through structural protections and diversification, though this is subject to market and operational risks