SCHEDULE: Apollo Affiliates Maintain 14.8% Stake in CION Ares Fund
Beneficial Ownership Report
A group of Apollo-affiliated entities, including Athene Annuity and Life Company, reported a continued beneficial ownership of 14.8% in CION Ares Diversified Credit Fund's Mandatory Redeemable Preferred Shares.
Summary
- A group of nine entities, primarily affiliated with Apollo Management Holdings GP, LLC and Athene Annuity and Life Company, collectively reported beneficial ownership of 4,560,000 Mandatory Redeemable Preferred Shares (MRPS) of CION Ares Diversified Credit Fund.
- This ownership represents 14.8% of the total 30,800,000 MRPS outstanding as of December 31, 2024, as reported in the Issuer's Certified Shareholder Report filed on March 6, 2025.
- The reporting persons hold shared voting power and shared dispositive power over all 4,560,000 shares.
- This filing is an Amendment No. 8 to a Schedule 13G, updating previously reported beneficial ownership information.
- The reporting persons certified that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
Sentiment
Score: 5
Explanation: This is a routine beneficial ownership filing (Schedule 13G Amendment No. 8) and does not contain information that would inherently indicate positive or negative sentiment regarding the issuer's performance or outlook. It simply updates ownership details.
Future Outlook
NA
Management Comments
- The securities were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.
Industry Context
This filing is a routine disclosure of beneficial ownership and does not provide specific industry context or trends beyond the ownership structure of a credit fund.
Key Dates
| Date | Description |
|---|---|
| 2024-12-31 | Date as of which the total outstanding Mandatory Redeemable Preferred Stock (MRPS) was reported as 30,800,000 shares in the Issuer's Certified Shareholder Report. |
| 2025-03-06 | Date the Issuer's Certified Shareholder Report, detailing 30,800,000 MRPS outstanding, was filed. |
| 2025-06-30 | Date of event which requires filing of this statement. |
| 2025-08-14 | Date of filing and signatures for the Schedule 13G Amendment No. 8. |
Keywords
CION Ares Diversified Credit Fund, Apollo Management, Athene Annuity, Beneficial Ownership, Schedule 13G, Preferred Shares, Investment, SEC Filing
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