Company: ARI
Filing Date: 2025-04-11
Form Type: 40-APP/A
Source: 0001193125-25-079184
Chunk: 14

Company: Apollo Commercial Real Estate Finance, Inc.
Filing Date: 2025-04-11
Form: 40-APP/A
Chunk 14
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the “ LA Fund Board”). G. ADREF ADREF is a continuously offered, diversified, closed-endmanagement investment company registered under the 1940 Act that is operated as an interval fund and is organized as a Delaware statutory trust. ADREF has elected to be treated as a RIC under Subchapter M of the Code, and intends to qualify annually thereafter as a RIC. ADREF’s investment objective is to generate a return comprised of both current income and capital appreciation with moderate volatility and low correlation to the broader markets. ADREF pursues its investment objective by strategically investing across private institutional real estate investment funds as well as a diversified set of public real estate securities. ADREF’s business and affairs are managed under the direction of a board of trustees, which currently consists of four members, three of whom are not “interested” persons of ADREF within the meaning of Section 2(a)(19) of the 1940 Act (the “ ADREF Board”). H. AOP II (L) AOP II (L) is a specialty finance company that is a closed-end, non-diversifiedmanagement investment company organized as a Delaware statutory trust. AOP II (L) has elected to be regulated as a BDC under the 1940 Act and intends to elect to be treated as a RIC under Subchapter M of the Code, and intends to qualify annually thereafter as a RIC. AOP II (L)’s investment objectives are to generate current income and, to a lesser extent, long-term capital appreciation. AOP II (L) seeks to invest, directly or indirectly, globally across private credit opportunities, primarily investing in certain originated, secured loans or similar financial instruments, including bonds, debentures and other debt securities, made to or issued by corporate borrowers and issuers that generally generate on an annual basis $100 million or greater in EBITDA, and, to the extent applicable, equity-kickers or similar financial instruments issued, received or otherwise purchased in connection with such investment opportunities. For at least 80% of its portfolio, AOP II (L) intends to target loans to large private U.S. borrowers. AOP II (L)’s business and affairs are managed under the direction of a board of trustees, which currently consists of three members, two of whom are not “interested” persons of AOP II (L) within the meaning of Section 2(a)(19) of the 1940 Act (the “ AOP II (L) Board”). I