Apollo Investment Corporation (Apollo Investment) is a closed-end, non-diversified management investment company that has elected to be treated as a business development company (BDC). Its investment objective is to generate both current income and capital appreciation. It invests primarily in the form of subordinated debt, as well as by making investments in certain senior secured loans and/or equity in private middle market companies. From time to time, it may also invest in the securities of public companies. Its portfolio consists of investments in subordinated debt, referred to as mezzanine debt, and senior secured loans of private middle-market companies that, in the case of senior secured loans, generally are not syndicated and whose aggregate tranche size is less than $250 million. It also consists of equity interests, such as common stock, preferred stock, warrants or options. Apollo Investment Management, L.P. (AIM) is the investment adviser for the Company.