Apollo holds talks to sell MidCap Financial Investment Corp

7 articles · Updated · The Wall Street Journal · May 11

The publicly listed business-development company and its investments are valued at about $3 billion, and any buyer would likely be another BDC, with no deal guaranteed.
MFIC's default rate rose to 5.3% in the first quarter from 3.9% in December, while the fund posted a $61 million net loss and traded at about 85% of net asset value.
The fund has largely stopped new lending, using repayments to buy back shares and reduce debt, as listed and private BDCs face pressure from loss fears and investor redemption requests.

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