Company: ARI
Filing Date: 2025-03-14
Form Type: 40-APP
Source: 0001193125-25-054632
Chunk: 8

Company: Apollo Commercial Real Estate Finance, Inc.
Filing Date: 2025-03-14
Form: 40-APP
Chunk 8
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 OF THE APPLICANTS |

Apollo Global Management, Inc. (“ AGM”), a publicly traded company, owns controlling interests in the Advisers, and thus may be deemed to control the Regulated Funds and the Affiliated Entities. AGM, however, is a holding company and does not currently offer investment advisory services to any person, is not expected to do so in the future, and will not be the source of any Co-InvestmentTransactions under the requested Order. Accordingly, AGM has not been included as an Applicant.

| A. | MFIC and Merx |

MFIC is a specialty finance company that is a closed-end,diversified management investment company incorporated in Maryland. MFIC has elected to be regulated as a BDC under the 1940 Act, has qualified and elected to be treated as a regulated investment company (“ RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “ Code”), and intends to continue to qualify as a RIC in the future.

| 4 | “Regulated Fund” means the Existing Regulated Funds and any Future Regulated Funds.                                                                                                                                                                                                                                     
 “Future Regulated Fund” means an entity (a) that is an open-end or closed-end management investment company registered under the 1940 Act,                                                                                                                                                                              
 or a closed-end management investment company that has elected to be regulated as a business development company under the 1940 Act, (b) whose (1) primary investment adviser or (2) sub-adviser is an Adviser (as defined below) and (c) that intends to engage in Co-Investment Transactions. If an Adviser serves as 
 sub-adviser to a Regulated Fund whose primary adviser is not also an Adviser, such primary adviser shall be deemed to be an Adviser with respect to conditions 3 and 4 only.                                                                                                                                            |

The term Regulated Fund also includes (a) any Wholly-Owned Investment Sub (as defined below) of a Regulated Fund, (b) any Joint Venture (as defined below) of a Regulated Fund, and (c) any BDC Downstream Fund (as defined below) of a Regulated Fund that is a business development company. “ Wholly-Owned Investment Sub” means an entity: (a) that is a “wholly-owned subsidiary” (as defined in Section 2(a)(43) of the 1940 Act) of a Regulated Fund; (b) whose sole business purpose is to