Thu, Nov 14, 7:39 PM (235 days ago)
Apollo Asset Backed Credit Company LLC (ticker: ABC) reported its quarterly results for the period ending September 30, 2024. The company’s total assets reached $104,369,000, with significant investments at fair value amounting to $76,828,000. The consolidated statements of operations indicated total investment income of $1,420,000 for the quarter, primarily from interest income. However, expenses totaled $1,711,000, leading to a net investment income of $1,066,000. The company experienced a net increase in net assets of $1,246,000 from operations, supported by capital transactions that generated $40,742,000. As of the end of the quarter, cash and cash equivalents stood at $13,055,000, reflecting a robust liquidity position. Despite this positive performance, the company faces uncertainties, particularly regarding future interest rate fluctuations that could affect its asset valuations and cash flows. The management's discussion emphasized the reliance on Apollo’s asset management expertise to navigate these challenges and optimize investment opportunities. Overall, the financial health appears stable, with a focus on expanding asset-backed finance investments while managing associated risks.