Energy investments were a drag on net asset value during the first three months of 2016 for Apollo Investment Corporation (AINV), according to executives on its earnings call. Total investment income was down, from $102 million for the three-month period that ended in December to $85.3 million at the end of March.
Apollo BDC reports disappointing quarter
Management believe that recent co-investment relief from the SEC will allow AINV to more frequently act as lead lender and access new opportunities.
