Apollo Debt Solutions BDC: management transactions · United States · SEC (Form 4)

About Apollo Debt Solutions BDC

Apollo Debt Solutions BDC is a U.S.-based investment company organized as a Delaware statutory trust and regulated as a business development company (BDC) under the Investment Company Act of 1940. The company is headquartered in New York, NY, in the United States. While it is designed to provide access to private credit for individual investors, its strategic identity is closely tied to Apollo’s broader alternative credit platform. For investors, the company should be viewed primarily as a specialized credit vehicle rather than a traditional bank or diversified asset manager. Its investor communications and distribution platform are aligned with the U.S. market environment, including the broader NYSE/NASDAQ ecosystem, even though the fund itself is structured as a non-exchange-traded BDC. Apollo Debt Solutions BDC was formed on December 4, 2020, and launched publicly in January 2022 with more than $1 billion in assets under management. The firm’s stated objective is to generate current income and, to a lesser extent, long-term capital appreciation. Its core strategy is to invest primarily in directly originated private credit assets, including loans and other debt securities made to or issued by large private U.S. borrowers. Recent filings indicate that the company generally targets private U.S. businesses with more than $75 million of EBITDA, which places it in a large-cap private lending niche that is typically institutional in character and often more resilient than lower-middle-market lending. From a competitive standpoint, Apollo Debt Solutions BDC benefits from the scale, sourcing power, and underwriting capabilities of Apollo’s credit platform. Apollo is one of the major names in alternative credit, and that affiliation gives the fund access to a broad origination network, extensive lender relationships, and experienced investment professionals. The company’s model is built around direct lending solutions, often structured bilaterally or with only a limited set of lenders, which can offer borrowers speed, confidentiality, and tailored financing. The portfolio may also include equity interests such as common stock, preferred stock, warrants, or options when those instruments are part of a broader financing package. Geographically, the portfolio is mainly concentrated in the United States, although the company may invest from time to time in European and other non-U.S. companies, subject to BDC diversification and regulatory requirements. Recent developments have focused on scaling the platform and optimizing funding. The April 2026 prospectus disclosed a maximum offering size of $10.4 billion in shares, underscoring the fund’s ambition to continue growing its capital base. More broadly, the company has continued to use securitizations and debt issuance as part of its financing strategy, reinforcing its position as a leveraged private credit platform within Apollo’s ecosystem. Overall, Apollo Debt Solutions BDC offers exposure to large-cap U.S. private credit, with performance driven by origination quality, credit discipline, funding efficiency, and the broader private lending market cycle.