Related Parties (Tables)

6 Months Ended

Jun. 30, 2022

Related Party Transaction [Line Items]

Schedule of Related Party Transactions

Under our fee agreement with Apollo, we pay Apollo a base management fee of (1) 0.225% per year on a monthly basis equal to the lesser of (A) $103.4 billion, which represents the aggregate fair market value of substantially all of the assets in substantially all of the accounts of or relating to us (collectively, the Accounts) as of December 31, 2018 (Backbook Value), and (B) the aggregate book value of substantially all of the assets in the Accounts at the end of the respective month, plus (2) 0.15% per year of the amount, if any, by which the aggregate book value of substantially all of the assets in the Accounts at the end of the respective month exceeds the Backbook Value, subject to certain adjustments. Additionally, we pay a sub-allocation fee based on specified asset class tiers ranging from 0.065% to 0.70% of the book value of such assets, with the higher percentages in this range for asset classes that are designed to have more alpha generating abilities.

The following summarizes the Predecessor investments in MidCap Financial:

	Predecessor
(In millions)	December 31, 2021
Profit participating notes	$	635
Senior unsecured notes	158
Redeemable preferred stock	7
Total investment in MidCap Financial	$	800

The following table summarizes our investments in Athora:

	Successor		Predecessor
(In millions)	June 30, 2022		December 31, 2021
Investment fund	$	818	$	743
Non-redeemable preferred equity securities	157		171
Total investment in Athora	$	975	$	914

The following summarizes our investments in PK Air notes:

	Successor		Predecessor
(In millions)	June 30, 2022		December 31, 2021
AFS or trading securities	$	1,102	$	1,401