Apollo Asset Backed Credit Co adds T-S and T-I share classes with adjusted fee structures

Apollo Asset Backed Credit Co LLC

Added T-S and T-I shares under Third Amended and Restated LLC Agreement, effective Oct 25, 2024.
T-S shares pay sales load, dealer manager fee, annual distribution fee and shareholder servicing fee; T-I shares do not.
T Shares have no management fee for first six months after initial closing of T Share third-party capital.
Holders of T Shares have no right to nominate or remove directors.
Amended Share Repurchase Plan to reflect addition of T-S and T-I shares.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Apollo Asset Backed Credit Co LLC: Amended and restated the limited liability company agreement to add two new share classes (T-S and T-I) with differing fee structures and no director nomination rights (effective 2024-10-25).

Change: charter amendment
Effective: 2024-10-25

Exact text from the filing

On October 25, 2024, the Company executed its Third Amended and Restated Limited Liability Company Agreement (the “Third A&R LLCA”), which amended and restated the Company’s Second Amended and Restated Limited Liability Company Agreement, dated as of June 28, 2024. The amendment and restatement effects certain changes, including the addition of T-S Shares and T-I Shares (together, the “T Shares”), as described in further detail below.

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Source: SEC EDGAR

accession 0001193125-24-248772

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