--Net Asset Value of
Guernsey, Channel Islands,
Highlights
- Net asset value at
June 30, 2020 was$9.3 million , or$0.12 per unit, reflecting a net increase in net assets of approximately$2.2 million , or$0.03 per common unit during the three months endedJune 30, 2020 . The increase in net asset value forAAA was due to an increase in net assets from operations due to the increase in fair value of theInvestment Partnership's investment in Athene.
Net Asset Value for
At
(in $ millions, except per unit amounts) | Net Asset Value as of | ||
Gross Asset Value: | |||
Cash | $ | 0.09 | |
Investment in Athene | 18.9 | ||
Other | (9.7) | ||
Net Asset Value(1) | $ | 9.3 | |
Net Asset Value per Unit(1) | $ | 0.12 | |
Net Common Units Outstanding | 76,328,950 |
____________________________
(1) The remaining Athene shares beneficially held by
Financial Report
Contact
+1 (212) 822 0678 |
Additional Information
A presentation will be available on the company’s website at http://www.apolloalternativeassets.com/ReportsAndFilings/AdditionalDocuments.aspx in connection with this press release.
About
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements involve risks and uncertainties because they relate to future events and circumstances. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties that could cause actual results and developments to differ materially from the historical experience and expressed or implied expectations of
Financial Schedules Follow |
Financial Schedule I
STATEMENT OF OPERATIONS (unaudited) (in thousands) | |||||||||||||||
For the Three Months Ended | For the Six Months Ended | ||||||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||||||
NET INVESTMENT LOSS (ALLOCATED | |||||||||||||||
Investment expenses | $ | (1,086 | ) | $ | (1,112 | ) | $ | (2,062 | ) | $ | (2,262 | ) | |||
EXPENSES | |||||||||||||||
General and administrative expenses | (241 | ) | (268 | ) | (401 | ) | (587 | ) | |||||||
NET INVESTMENT LOSS | (1,327 | ) | (1,380 | ) | (2,463 | ) | (2,849 | ) | |||||||
UNREALIZED GAINS (LOSSES) FROM INVESTMENTS (ALLOCATED FROM AAA | |||||||||||||||
Net increase (decrease) in unrealized (depreciation) appreciation of investment | 3,506 | 1,244 | (8,720 | ) | 1,778 | ||||||||||
3,506 | 1,244 | (8,720 | ) | 1,778 | |||||||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 2,179 | $ | (136 | ) | $ | (11,183 | ) | $ | (1,071 | ) | ||||
Financial Schedule II
STATEMENT OF ASSETS AND LIABILITIES (in thousands, except per unit amounts) | |||||||
As of June30, 2020 (unaudited) | As of 2019 | ||||||
ASSETS | |||||||
Investment in | $ | 15,298 | $ | 26,080 | |||
Other assets | — | 170 | |||||
TOTAL ASSETS | 15,298 | 26,250 | |||||
LIABILITIES | |||||||
Accounts payable and accrued liabilities | 677 | 546 | |||||
Due to affiliates | 5,368 | 5,268 | |||||
TOTAL LIABILITIES | 6,045 | 5,814 | |||||
NET ASSETS | $ | 9,253 | $ | 20,436 | |||
NET ASSETS CONSIST OF: | |||||||
Partners’ capital contribution (76,328,950 common units outstanding at | $ | 1,621,541 | $ | 1,621,541 | |||
Partners’ capital distributions | (3,967,667 | ) | (3,967,667 | ) | |||
Accumulated increase in net assets resulting from operations | 2,355,379 | 2,366,562 | |||||
NET ASSETS | $ | 9,253 | $ | 20,436 | |||
Net asset value per common unit | $ | 0.12 | $ | 0.27 | |||
Market price per common unit | $ | 0.08 | $ | 0.10 | |||
Financial Schedule III
CONSOLIDATED STATEMENT OF OPERATIONS (unaudited) (in thousands) | ||||||||||||||||
For the Three Months Ended | For the Six Months Ended | |||||||||||||||
2020 | 2019 | 2020 | 2019 | |||||||||||||
EXPENSES: | ||||||||||||||||
Management fees | $ | (843 | ) | $ | (843 | ) | $ | (1,685 | ) | $ | (1,685 | ) | ||||
General and administrative expenses | (243 | ) | (269 | ) | (378 | ) | (580 | ) | ||||||||
NET INVESTMENT LOSS | (1,086 | ) | (1,112 | ) | (2,063 | ) | (2,265 | ) | ||||||||
UNREALIZED GAIN (LOSS) FROM INVESTMENTS: | ||||||||||||||||
Net increase (decrease) in unrealized appreciation on investments | 3,856 | 1,367 | (9,594 | ) | 1,954 | |||||||||||
3,856 | 1,367 | (9,594 | ) | 1,954 | ||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 2,770 | $ | 255 | $ | (11,657 | ) | $ | (311 | ) | ||||||
Financial Schedule IV
CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES (in thousands) | |||||||
As of | As of 2019 | ||||||
ASSETS | |||||||
Investments: | |||||||
Investment in | $ | 18,886 | $ | 28,480 | |||
Cash and cash equivalents | 88 | 14 | |||||
Other assets | 1,686 | 3,541 | |||||
Due from affiliates | 5,368 | 5,268 | |||||
TOTAL ASSETS | 26,028 | 37,303 | |||||
LIABILITIES | |||||||
Accounts payable and accrued liabilities | 549 | 482 | |||||
Line of Credit due to affiliates | 9,040 | 8,725 | |||||
TOTAL LIABILITIES | 9,589 | 9,207 | |||||
NET ASSETS | $ | 16,439 | $ | 28,096 | |||
NET ASSETS CONSIST OF: | |||||||
Partners' capital | $ | (2,680,977 | ) | $ | (2,680,977 | ) | |
Accumulated increase in net assets resulting from operations | 2,697,416 | 2,709,073 | |||||
NET ASSETS | $ | 16,439 | $ | 28,096 | |||
Attachment
AAA Earnings Release Q2 '20.pdf
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