0001398344-22-012768.txt : 20220701 0001398344-22-012768.hdr.sgml : 20220701 20220701093943 ACCESSION NUMBER: 0001398344-22-012768 CONFORMED SUBMISSION TYPE: 424B3 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20220701 DATE AS OF CHANGE: 20220701 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Apollo Diversified Credit Fund CENTRAL INDEX KEY: 0001676197 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-211845 FILM NUMBER: 221059958 BUSINESS ADDRESS: STREET 1: APOLLO CAPITAL CREDIT ADVISER, LLC STREET 2: 9 W 57TH ST CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 212-515-3200 MAIL ADDRESS: STREET 1: APOLLO CAPITAL CREDIT ADVISER, LLC STREET 2: 9 W 57TH ST CITY: NEW YORK STATE: NY ZIP: 10019 FORMER COMPANY: FORMER CONFORMED NAME: Griffin Institutional Access Credit Fund DATE OF NAME CHANGE: 20161027 FORMER COMPANY: FORMER CONFORMED NAME: Griffin-Bain Institutional Access Credit Fund DATE OF NAME CHANGE: 20161021 FORMER COMPANY: FORMER CONFORMED NAME: Griffin Institutional Access Global Credit Fund DATE OF NAME CHANGE: 20160602 424B3 1 fp0077229_424b3.htm

APOLLO DIVERSIFIED CREDIT FUND

 

Class A (CRDTX), Class C (CGCCX), Class I Shares (CRDIX), Class F Shares (CRDFX),
Class L Shares (CRDLX), and Class M Shares (CRDMX) of Beneficial Interest

 

Supplement dated July 1, 2022 to the Prospectuses and Statements of Additional Information
for Class A, Class C, Class I, Class F, Class L and Class M Shares dated May 1, 2022, as amended
May 2, 2022

 

This Supplement revises each applicable Prospectus (the "Prospectus") and Statement of Additional Information (the "SAI") for Class A, Class C, Class I, Class F, Class L, and Class M each dated May 1, 2022, as amended May 2, 2022, of the Apollo Diversified Credit Fund (the "Fund"). This Supplement updates certain information contained in each Prospectus and SAI. Please review this important information carefully.

 

Commencing on July 1, 2022 and extending through September 30, 2022 (the "Waiver Period"), Apollo Credit Management, LLC (the "Sub-Adviser") has agreed to waive a portion of its fee, and Apollo Capital Credit Adviser, LLC (the "Adviser") has agreed to waive a corresponding portion of its fee that it would otherwise be paying to the Sub-Adviser. During the Waiver Period, the Sub-Adviser has agreed to waive an amount equal to 0.50% (the "Sub-Advisory Fee Waiver") of the average daily net assets of the Fund. The Sub-Advisory Fee Waiver will terminate upon the sooner to occur of: (i) September 30, 2022, unless otherwise agreed to in writing by the Adviser and the Sub-Adviser, or (ii) as of the date that the Adviser elects, in its sole discretion, to cease waiving the portion of its fee that otherwise would be payable to the Sub-Adviser in the absence of the Sub-Advisory Fee Waiver. The Sub-Advisory Fee Waiver in effect during the Waiver Period is a continuation of the fee waiver which took effect on April 1, 2022 through June 30, 2022.

 

The advisory fee payable by the Fund to the Adviser net of waivers during the Waiver Period is 1.00%. The sub-advisory fee payable by the Adviser to the Sub-Adviser pursuant to the Sub-Advisory Agreement between the Adviser and Sub-Adviser, less the amount of the Sub-Advisory Fee Waiver during the Waiver Period is as follows:

 

Average Daily Net Assets of the Fund Annual Sub-Advisory Fee Rate Net Sub-Advisory Fee During the
Waiver Period
$0 to $250M 0.75% 0.25%
$250M to $500M 0.65% 0.15%
$500M to $1 Billion 0.60% 0.10%
Over $1 Billion 0.55% 0.05%

 

This Supplement, and each Prospectus and SAI for Class A, Class C, Class I, Class F, Class L and Class M Shares dated May 1, 2022, as amended May 2, 2022, of the Fund provide relevant information for all shareholders. Each Prospectus and SAI of the Fund have been filed with the U.S. Securities and Exchange Commission, and are incorporated by reference. These can be obtained without charge by calling the Fund at 1-888-926-2688 or by visiting www.apollodiversifiedcreditfund.com.

 

Investors Should Retain This Supplement for Future Reference