MidCap Financial Investment Corporation May 2023 Investor Presentation
Investor Presentation
Unless otherwise noted, information as of
Confidential and Proprietary - Not for distribution, in whole or in part, without the express written consent of
It should not be assumed that investments made in the future will be profitable or will equal the performance of the investments shown in this document.
Disclaimers, Definitions and Important Notes
Forward-Looking Statements
We make forward-looking statements in this presentation and other filings we make with the
The forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account all information currently available to us. Forward-looking statements are not predictions of future events. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to us. Some of these factors are described in the company's filings with the
Past Performance
Past performance is not indicative nor a guarantee of future returns, the realization of which is dependent on many factors, many of which are beyond the control of
Financial Data
Financial data used in this presentation for the periods shown is from the Corporation's Form 10-K and Form 10-Q filings with the
Additional Important Disclosure
This presentation is confidential and may not be distributed, transmitted or otherwise communicated to others, in whole or in part, without the express written consent of
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Disclaimers, Definitions and Important Notes
"Assets Under Management", or "AUM", refers to the assets of the funds, partnerships and accounts to which Apollo provides investment management, advisory, or certain other investment-related services, including, without limitation, capital that such funds, partnerships and accounts have the right to call from investors pursuant to capital commitments. AUM equals the sum of:
- The net asset value ("NAV"), plus used or available leverage and/or capital commitments, or gross assets plus capital commitments, of the yield and certain hybrid funds, partnerships and accounts for which we provide investment management or advisory services, other than certain collateralized loan obligations ("CLOs"), collateralized debt obligations ("CDOs"), and certain perpetual capital vehicles, which have a fee- generating basis other than the mark-to-market value of the underlying assets; for certain perpetual capital vehicles in yield, gross asset value plus available financing capacity;
- The fair value of the investments of equity and certain hybrid funds, partnerships and accounts Apollo manages or advise, plus the capital that such funds, partnerships and accounts are entitled to call from investors pursuant to capital commitments, plus portfolio level financings;
- The gross asset value associated with the reinsurance investments of the portfolio company assets Apollo manages or advises; and
- The fair value of any other assets that Apollo manages or advises for the funds, partnerships and accounts to which Apollo provides investment management, advisory, or certain other investment-related services, plus unused credit facilities, including capital commitments to such funds, partnerships and accounts for investments that may require pre-qualification or other conditions before investment plus any other capital commitments to such funds, partnerships and accounts available for investment that are not otherwise included in the clauses above.
Apollo's AUM measure includes Assets Under Management for which Apollo charges either nominal or zero fees. Apollo's AUM measure also includes assets for which Apollo does not have investment discretion, including certain assets for which Apollo earns only investment-related service fees, rather than management or advisory fees. Apollo's definition of AUM is not based on any definition of Assets Under Management contained in its governing documents or in any management agreements of the funds Apollo manages. Apollo considers multiple factors for determining what should be included in its definition of AUM. Such factors include but are not limited to (1) Apollo's ability to influence the investment decisions for existing and available assets; (2) Apollo's ability to generate income from the underlying assets in funds it manages; and
(3) the AUM measures that Apollo uses internally or believe are used by other investment managers. Given the differences in the investment strategies and structures among other alternative investment managers, Apollo's calculation of AUM may differ from the calculations employed by other investment managers and, as a result, this measure may not be directly comparable to similar measures presented by other investment managers. Apollo's calculation also differs from the manner in which its affiliates registered with the
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Introduction
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INTRODUCTION
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MFIC is a publicly traded (NASDAQ: |
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MFIC) business development company |
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leading lender to middle |
("BDC") treated as a regulated investment |
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market companies |
company ("RIC") for tax purposes focused |
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on investing primarily in senior secured |
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loans to middle market companies |
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sourced from |
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and investments |
Apollo is a high growth alternative asset manager with 30+ years of investing experience and
Strong Alignment of Interest
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- Equity Ownership in MFIC2
Apollo Global Management 4.0%-
MidCap Financial 3.0%
1.
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definition of AUM. 3. |
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Attachments
Disclaimer


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