MidCap Financial, a closed-end, externally managed, diversified management investment company that has elected to be treated as a business development company, agreed to merge with Apollo Senior Floating Rate Fund and Apollo Tactical Income Fund, diversified closed-end management investment companies, in a $3.4bn deal. “We are excited to announce a transformative merger of AFT and AIF with MFIC, which we believe will create a stronger combined company. We look forward to realizing the benefits of a larger combined company, including enhanced returns for all shareholders, greater scale, and enhanced portfolio diversification. We also believe that a larger combined company may improve market visibility and lead to increased market value for its shareholders,” Howard Widra, MidCap Financial Executive Chairman. On June 21, 2024, Apollo Senior Floating Rate Fund and Apollo Tactical Income Fund announce stockholder approval of mergers with MidCap Financial Investment.