ExitMonday, October 26, 2026
Ares Capital to acquire Apollo's MidCap Financial for $2.6bn
Ares Capital has agreed to buy Apollo Global Management's MidCap Financial Investment Corporation in a $2.6 billion cash-and-stock transaction.
Ares Capital has agreed to acquire MidCap Financial Investment Corporation, a publicly traded lender that sits with Apollo Global Management, in a transaction valued at $2.6 billion. The consideration is a mix of cash and stock.
The transaction adds to consolidation among publicly traded private credit vehicles, as larger managers absorb listed lending platforms.
Deal facts
- Target
- MidCap Financial Investment
- Business
- Publicly traded business development company focused on middle-market lending, part of Apollo Global Management
- Buyer
- Ares Capital
- Seller
- Apollo Global Management
- Deal type
- Exit
- Value
- $2.6 billion
- Status
- Announced, not yet closed
- Announced
- Monday, October 26, 2026
Sources
- Private Equity WireOct 28, 2026
Written by Buyout Desk from the sources above. Spotted an error? Email corrections@buyoutdesk.com.