In the Matter of Apollo Management V, L.P., et al.
Admin. Proc. File No. 3-17409
On August 23, 2016, the Commission instituted and simultaneously settled administrative and cease-and-desist proceedings (“Order”) against Apollo Management V, L.P.; Apollo Management VI, L.P.; Apollo Management VII, L.P.; and Apollo Commodities Management, L.P. (collectively , the “Respondents”). In the Order, the Commission found that, from at least December 2011 through May 2015, the Respondents failed to adopt and implement policies and procedures that would prohibit transactions by registered investment advisers. The Commission ordered the Respondents to pay a total of $40,254,552.00 in disgorgement and prejudgment interest (“Disgorgement Fund”). The Respondents were also ordered to pay $12,500,000.00 in civil money penalties to the U.S. Treasury.
The Order provides for the Respondents to deposit the Disgorgement Fund into an escrow account, acceptable to the Commission staff. The Respondents are responsible for distributing the Disgorgement Fund in accordance with the Order. Tax compliance and any related administrative expenses are the responsibility of the Respondents. The Order requires that the Respondents submit to the Commission staff a final accounting and certification of the disposition of the Disgorgement Fund within 180 days of the Order. See the Commission’s order: Release No. IA-4493.
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