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Commitments and Contingencies | 9 Months Ended
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Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Commitments and Contingencies KBC Bank Deutschland AG. In September 2013, the Company, together with other affiliates of Apollo, reached an agreement to make an investment in an entity that has agreed to acquire a minority participation in KBC Bank. The Company committed to invest up to approximately €38,000 ($50,000), representing approximately 21% of the ownership in KBC Bank. In February 2015, the Company sold approximately 48% of its ownership interest in Champ LP at cost to an account managed by Apollo for approximately €16,314 (or $20,794), reducing its unfunded commitment to Champ LP to €3,229 (or $3,609). Through its interest in Champ LP, the Company now holds an indirect ownership interest of approximately 11% in Bremer Kreditbank AG, which operates under the name BKB Bank. GE Capital and Mubadala Loan Portfolio. On September 29, 2015, the Company entered into a commitment to purchase a real estate loan portfolio from Mubadala GE Capital Ltd representing approximately $375,355 of Real Estate Loans. The commitment was part of the larger Transaction in which affiliates of Apollo agreed to acquire a portfolio of loans from Mubadala GE Capital Ltd (the “Transaction”). The Transaction remains subject to certain regulatory approvals and closing conditions. On October 1, 2015, the Company and MidCap, an affiliate of Apollo, entered into the MidCap Agreement whereby the Company granted MidCap an option to purchase the Real Estate Loans, which option is exercisable until 30 business days prior to the anticipated closing date for the Transaction. In consideration of the option, MidCap agreed to pay the Company a fee of $750. The MidCap Agreement also provides that if prior to the closing of the Transaction the Company is not satisfied with its due diligence investigation of the Real Estate Loans and provides notice to MidCap within a specified time period, MidCap will purchase the Real Estate Loans from the Company. Loan Commitments. As described in "Note 5 - Commercial Mortgage Loans" and "Note 6 - Subordinate Loans", respectively, at September 30, 2015, the Company had $124,729 of unfunded commitments related to its commercial mortgage loan portfolio and $226,266 of unfunded commitments related to its subordinate loan portfolio.

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