{
  "id": 16885273,
  "title": "Ares Capital to acquire Apollo’s MidCap Financial in $2.6bn deal",
  "url": "https://urgent.news/2026/10/28/ares-capital-to-acquire-apollos-midcap-financial-in-2-6bn-deal",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-28T10:11:19.000Z",
  "source": {
    "name": "Private Equity Wire",
    "slug": "private-equity-wire",
    "url": "https://www.privateequitywire.co.uk/ares-capital-to-acquire-apollos-midcap-financial-in-2-6bn-deal/"
  },
  "original_language": "en",
  "account": "Ares Capital has announced its plans to acquire Apollo Global Management’s MidCap Financial Investment Corporation in a deal worth $2.6 billion, as reported by Reuters. This acquisition is part of an ongoing trend of consolidation within the publicly traded private credit sector. MidCap Financial Investment Corporation's stock value has been valued at $10.88 per diluted share, inclusive of $1.21 in cash and $9.67 worth of Ares Capital stock, marking a premium of over 30% over its previous closing price.\n\nThe acquisition is expected to bolster Ares Capital's direct lending portfolio, expanding it to encompass more than 800 companies. This move will reinforce Ares Capital's exposure to middle-market borrowers across a broader spectrum of industries and financial sponsors. This strategic move comes in the wake of growing concerns surrounding business development companies (BDCs), many of which are trading at significant discounts to net asset value due to worries about loan quality.\n\nThe deal, anticipated to close in the first half of 2027, is expected to augment Ares Capital's core earnings per share. For the transaction, Wells Fargo is providing advisory services along with $750 million in financing. Meanwhile, Moelis is advising MidCap Financial Investment Corporation's special committee.",
  "summary": "Ares Capital has agreed to acquire Apollo Global Management's MidCap Financial Investment Corporation in a $2.6bn cash-and-stock transaction, extending consolidation across the publicly traded private credit sector, according to a report by Reuters.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}