Apollo Private Credit Fund Reports Loss on Portfolio Weakness

A private credit fund overseen by Apollo Global Management Inc. reported a quarterly loss, citing declining valuations amid market volatility and weakness in some specific deals.

MidCap Financial Investment Corp., a business development company focused on direct lending, reported a net loss per share of 30 cents, compared to a 32 cent gain for the same period a year ago, it said in a statement. Net asset value per share fell to $13.82 compared to $14.18 at the end of December, missing analyst expectations.