Private Credit Portfolio Analysis | Apollo Debt Solutions BDC Reports Q1 2025 Results
- Editor
- May 9
- 2 min read
Whats New:
Apollo Debt Solutions BDC reported its Q1 2025 financial results, showing significant growth in assets and net assets compared to the previous quarter. The fund's total assets increased to $19.12 billion as of March 31, 2025, up from $15.24 billion at the end of 2024. Net assets grew to $11.37 billion from $9.55 billion over the same period.
Portfolio Dynamics:
Total assets grew to $19.12 billion as of March 31, 2025, compared to $15.24 billion at the end of 2024.
Investments owned at fair value increased to $17.43 billion, up from $14.56 billion at the end of 2024.
Cash and cash equivalents rose to $1.00 billion from $392.89 million at the end of 2024.
Investment Activity:
Receivable from investment sales increased significantly to $317.51 million from $99.70 million at the end of 2024.
Interest receivable grew to $144.50 million from $106.83 million at the end of 2024.
Unrealized appreciation on foreign currency forward contracts decreased to $9.01 million from $34.95 million at the end of 2024.
Capital Structure:
Long-term debt increased to $6.37 billion from $4.93 billion at the end of 2024.
Total liabilities grew to $7.75 billion from $5.69 billion at the end of 2024.
Net assets increased to $11.37 billion from $9.55 billion at the end of 2024.
Performance Profile:
Net asset value per share increased to $24.65 as of March 31, 2025, compared to $24.86 at the end of 2024.
Retained earnings decreased to $42.84 million from $92.72 million at the end of 2024.
Additional paid-in capital increased to $11.32 billion from $9.45 billion at the end of 2024.
Risk & Quality:
The fund reported an incentive fee payable of $32.56 million, up from $28.52 million at the end of 2024.
Management fee payable increased to $12.27 million from $10.20 million at the end of 2024.
Payable for investment purchases rose to $1.01 billion from $455.31 million at the end of 2024.
The Wrap:
Apollo Debt Solutions BDC demonstrated strong growth in Q1 2025, with significant increases in total assets, investments at fair value, and net assets. The fund's net asset value per share slightly decreased, while long-term debt and various fee payables increased. These changes reflect the fund's expanded operations and investment activities, as well as potential increased costs associated with its growth.
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