Apollo Investment Corporation Invests in a Newly Launched Madison Capital Funding Senior Loan Vehicle

NEW YORK--(BUSINESS WIRE)--Apollo Investment Corporation (AINV) and Madison Capital Funding LLC (“Madison Capital”), are pleased to announce the successful closing today of a transaction whereby Apollo Investment Corporation has become the anchor equity investor in a loan vehicle managed by an affiliate of Madison Capital1. Madison Capital is one of the largest middle market loan originators in the United States, and an affiliate of New York Life Investments2. This new vehicle has purchased from Madison Capital an existing pool of senior secured loans to middle market companies in the United States with approximately $250 million of combined face value. These loans were originated by Madison Capital over the past year. The new vehicle will have revolving secured financing provided by Wells Fargo Bank, National Association and by Madison Capital.