The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. And what we've ultimately said is that the economics on the AUM of Athora to Apollo should be similar to Athene. Through a shifting market landscape, we remain active looking for attractive asymmetric risk reward and investing in high-quality top of the capital structure opportunities. And we created this investment in an attractive creation multiple of approximately 7 times EBITDA prior to cost savings. And Marc, best of luck in your short stay over. The origination partnership will leverage Apollo's incumbency with borrowers, utilizing our credit platform's relationships with approximately 3,300 issuers of both corporate and sponsor-backed companies. With $414 billion of AUM as of June 30th, we are well on our way towards the $600 billion goal that we provided at Investor Day this past November. For the second quarter, we announced a dividend of $0.49 per share supported by our after tax FRE. I mean, you literally are just calling on companies and calling on sponsors and it's a lot of the same skill sets. Apollo Investment Corporation Schedules Earnings Release and Conference Call for Second Quarter Fiscal Year 2021, Apollo Investment Corporation Reports Financial Results for the Quarter Ended June 30, 2020, Apollo Investment Corporation, a Maryland corporation organized on February 2, 2004, is a closed-end, externally managed, non-diversified management investment company that has elected to be treated as a business development company (“BDC”) under the Investment Company Act of 1940 (the “1940 Act”). And our integrated platform is very different than how other people run their businesses. Following these two transactions, our insurance clients continue to have a strong capital position with over $85 billion of buying power in aggregate. Thank you. Together, with Gary Parr, Gernot Lohr, Matt Michelini and Jasjit Singh, they will lead a broad team of over a 100 professionals who are dedicated to our insurance clients. So your question somewhat relates to, I think Glenn asked it earlier, about the comparative advantages in these transactions are there common themes. Christoph Kotowski -- Oppenheimer & Company -- Analyst. In addition, our private equity fund, Fund IX, recently closed on the $6 billion take-private transactions for Tech Data, representing the largest public to private transaction completed this year. Hi. Our outmost priority during this time has been to focus on the health and safety of our people and their families, which include our 15 offices around the world. Previously Mr. Wechsler has had several executive positions in the entertainment and finance industries and has made a number of private investments. This growth was driven by Athene, Athora and strong inflows during the quarter and represents 33% growth year-over-year. Our net performance fee receivable increased by approximately $0.40 per share, reflecting in part the full reversal of clawback in Fund VIII. So, on dividend, FRE&D. And that did not serve us well as well in a risk on environment but it serves us very well in an environment like the one you're describing. So combined, the impact of all of the impairments are a delay and carry distributions of about $0.25 a share. So, I'm curious, kind of how that connects as well. Good morning. Mr. Ryan joined Apollo Capital Management, L.P. in 2015 as Managing Director and Chief Credit Officer. Apollo remains in a very strong liquidity position with approximately $1.75 billion of liquidity available on our balance sheet. Since its founding in 1990, Apollo Global has grown to become one of the world's largest alternative investment managers. We continue to see robust demand for Apollo products and a strong pipeline for insurance transactions over the next few years. So, that's what prompts a CEO to want to engage is -- and now we actually have a track record. In June, we raised $500 million through a debt offering to further bolster our capital position in light of accommodating an attractively priced markets. Yes. Yes. But, I think he would tell you that he thinks we're still in early innings in terms of what he has really masterminded over the last 12 years in building the insurance operations to over $200 billion and I think believes that there's no reason that can't double over the next three, four years, and I think he plans to be a major part of that. Mr. Puleo became a partner of Milbank, Tweed, Hadley & McCloy LLP in 1978 and Co-Chair of the firm’s Global Finance Group in 1995 until retiring at the end of 2006. We could, for a year, for some period of time. So, maybe just on the outlook for the pace of deployment. Patrick Davitt -- Autonomous Research -- Analyst. And also, can you update us on the current M&A and reinsurance backdrop in both markets as we try to estimate the potential for future transactions? And the truth of the matter is we're so deep and so well-known in the insurance space and our regulatory relationships are positive that all of these things create a franchise for us that is unparalleled, and we're attracting the ability to track talent is probably positively impacted by that. So, I'd say, sitting today, comparing to any point in time in last four years, we are in is many substantive conversations, we have no idea exactly what the timing of transactions will be. Mr. Hannan, a senior partner of Apollo Management, L.P., co-founded Apollo Management, L.P. in 1990. So it's Martin. And so, there continues to be value-oriented opportunities and sweet spot. And as I said in my comments, it's partly energy and it's partly one or two other names that have just been severely impacted by the pandemic. Apollo Investment Corporation (NASDAQ: AINV) ... LLC 2019 Investor Day Event Date: November 07, 2019 08:00 AM EST Supporting Materials. And to our employees who have continued to work tirelessly on behalf of our clients and our shareholders, I'd like to convey my appreciation and gratitude. So that's not something that we do or apply. Please refer to Apollo's most recent SEC filings, including the 8-K Apollo filed this morning for risk factors related to these statements. We continue to dynamically navigate through this challenging environment on behalf of all our investors. We've grown our AUM at a substantial pace over last year and continue to see strong demand for our products, putting us on pace to achieve or exceed communicated goals of raising over $20 billion of new capital over the next year and being well on our way to surpassing $600 billion of AUM. The low interest rates continue to put a lot of pressure on traditional companies. The Investor Day will be webcast live and can be accessed by all interested parties and media via Apollo’s investor relations website at ir.agm.com. In addition, we have expanded our existing partnerships with organizations that work with students of color and communities in need. So being well underway to surpassing $600 billion of AUM over a five-year period and growing our FRE mid-teens average annual rate, as we outlined in last November's Investor Day. I think that we continue to look for opportunities, and we do have some public companies that are able to kind of take advantage of the public markets. And the S&P 500 earnings outlook continues to be surprisingly that ‘21 earnings are going to be ahead of ‘19 earnings. And ultimately, do you see the -- or what do you see as the outlook for deployment as we look forward relative to 2Q levels? As a result, our dividend of $0.49 per share for the quarter was fully supported by our after-tax FRE. We recorded impairment charges of approximately $1 billion during the second quarter, across a handful of investments that we had previously identified on our watch list. And you asked about the capacity sorry, you asked about capacity. Josh, Marc and I maintain the utmost confidence in this team to lead us into the next phase of growth and development for these platforms and for the firm more broadly. Since 2011 he has served as the Chief Legal Officer of Apollo Senior Floating Rate Fund Inc., and since 2013, he has served as the Chief Legal Officer of Apollo Tactical Income Fund Inc. The origination partnership will leverage Apollo's incumbency with borrowers, utilizing our credit platforms relationships with approximately 3,300 issuers of both, corporate and sponsor-backed companies. Gross redemptions in the first half of the year were just $1.2 billion or well less than 1% of our AUM through a period of significant volatility, reflecting the largely long-dated nature of our funds capital. So, we think kind of a lot of our issues are behind us, and we're going to build value from here. And then, how important are your proprietary origination platforms for them to choose Apollo over the others in the space? It's very simply, a low interest rate environment means that much of the industry is going to be challenged and will revert to shedding assets. We have six segments of expertise, U.S. spread business, European spread, variable capability, life settlements and structure settlements as in fund FCI and we have property casualty runoff and then P&C flow. So, I think we continue to focus on -- so, we’ll hesitate from predicting realizations. And then, just anything more you can say about kind of the realization outlook would be appreciated. This capital serves as a key strategic differentiator for our clients as they do unique asset management, transaction and origination capabilities of more than 150 employees at Apollo focused on serving them. And we've left ourselves 24 months or so to get there. Mr. Rothstein is responsible for managing the day-to-day operations of the Real Estate Group as well as strategic planning and new business development. Sure, Bill. He is a member of the AICPA and CFA Institute and is a CPA, CFA and CA. They actually weren't selling something per se, their business wasn't for sale, per se, but they were trying to solve for different strategic directions. But, we're not planning for that in terms of how we invest. Harris said that one time when SPACs make more sense is when existing investors are looking for "more of a cash exit. In recent years, we've broadened the firm's executive team, most notably by naming Scott Kleinman and Jim Zelter as co-presidents.
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