<SEC-DOCUMENT>0001140361-17-040386.txt : 20171031
<SEC-HEADER>0001140361-17-040386.hdr.sgml : 20171031
<ACCEPTANCE-DATETIME>20171031204302
ACCESSION NUMBER:		0001140361-17-040386
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20171023
FILED AS OF DATE:		20171031
DATE AS OF CHANGE:		20171031

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			QH RE Asset Co LLC
		CENTRAL INDEX KEY:			0001654220

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34452
		FILM NUMBER:		171167131

	BUSINESS ADDRESS:	
		STREET 1:		Q-TEL TOWER, DIPLOMATIC AREA STREET
		STREET 2:		WEST BAY, P.O. BOX: 23224
		CITY:			DOHA
		STATE:			S3
		ZIP:			QATAR
		BUSINESS PHONE:		974-4499-5893

	MAIL ADDRESS:	
		STREET 1:		Q-TEL TOWER, DIPLOMATIC AREA STREET
		STREET 2:		WEST BAY, P.O. BOX: 23224
		CITY:			DOHA
		STATE:			S3
		ZIP:			QATAR

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Qatar Investment Authority
		CENTRAL INDEX KEY:			0001441449
		STATE OF INCORPORATION:			S3

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34452
		FILM NUMBER:		171167132

	BUSINESS ADDRESS:	
		STREET 1:		Q-TEL TOWER
		STREET 2:		P.O. BOX 23223
		CITY:			DOHA
		STATE:			S3
		ZIP:			QATAR
		BUSINESS PHONE:		974 441 4466

	MAIL ADDRESS:	
		STREET 1:		Q-TEL TOWER
		STREET 2:		P.O. BOX 23223
		CITY:			DOHA
		STATE:			S3
		ZIP:			QATAR

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Apollo Commercial Real Estate Finance, Inc.
		CENTRAL INDEX KEY:			0001467760
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				270467113
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		C/O APOLLO GLOBAL MANAGEMENT, LLC
		STREET 2:		9 WEST 57TH STREET, 43RD FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 515-3200

	MAIL ADDRESS:	
		STREET 1:		C/O APOLLO GLOBAL MANAGEMENT, LLC
		STREET 2:		9 WEST 57TH STREET, 43RD FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2017-10-23</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001467760</issuerCik>
        <issuerName>Apollo Commercial Real Estate Finance, Inc.</issuerName>
        <issuerTradingSymbol>ARI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001441449</rptOwnerCik>
            <rptOwnerName>Qatar Investment Authority</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>P.O. BOX 23224 OOREDOO TOWER</rptOwnerStreet1>
            <rptOwnerStreet2>DIPLOMATIC AREA STREET, WEST BAY</rptOwnerStreet2>
            <rptOwnerCity>DOHA</rptOwnerCity>
            <rptOwnerState>S3</rptOwnerState>
            <rptOwnerZipCode>S3</rptOwnerZipCode>
            <rptOwnerStateDescription>QATAR</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001654220</rptOwnerCik>
            <rptOwnerName>QH RE Asset Co LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>P.O. BOX 23224 OOREDOO TOWER</rptOwnerStreet1>
            <rptOwnerStreet2>DIPLOMATIC AREA STREET, WEST BAY</rptOwnerStreet2>
            <rptOwnerCity>DOHA</rptOwnerCity>
            <rptOwnerState>S3</rptOwnerState>
            <rptOwnerZipCode>S3</rptOwnerZipCode>
            <rptOwnerStateDescription>QATAR</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2017-10-23</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1670000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>18.44</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10493529</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Series B Preferred Stock, par value $0.01 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2017-10-23</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1229607</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>25.04</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6770393</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">On October 23, 2017, QH RE Asset Company LLC (&quot;QHREAC&quot;) and Apollo Commercial Real Estate Finance, Inc. (the &quot;Issuer&quot;) entered into (i) a common stock purchase agreement (the &quot;Common Stock Purchase Agreement&quot;) pursuant to which QHREAC acquired 1,670,000 shares of the Issuer's Common Stock, par value of  $0.01 (the &quot;Common Stock&quot;) and (ii) a preferred stock repurchase agreement (the &quot;Preferred Stock Repurchase Agreement&quot;) pursuant to which the Issuer repurchased from QHREAC 1,229,607 shares of the Issuer's 8.00% Fixed-to-Floating Series B Cumulative Redeemable Perpetual Preferred Stock, par value $0.01 per share (the &quot;Series B Preferred Stock&quot;) (the &quot;Transaction&quot;).</footnote>
        <footnote id="F2">The Reporting Persons disclaim beneficial ownership of the securities reported herein except to the extent of their pecuniary interest therein and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.</footnote>
        <footnote id="F3">The Reporting Persons' holding in the Series B Preferred Stock was inadvertently omitted from the Form 3 filed on September 28, 2015.</footnote>
    </footnotes>

    <remarks>The Common Stock and Series B Preferred Stock are directly held by QHREAC, a wholly-owned subsidiary of Qatar Investment Authority (together, the &quot;Reporting Persons&quot;).   As of the date hereof, the Reporting Persons no longer own, directly or indirectly, more than 10% of a registered class of the Common Stock of the Issuer.  Based on information provided in the Issuer's Form 8-K filed on October 24, 2017, the Issuer had 105,451,235 shares of Common Stock outstanding immediately prior to the effective date of the Transaction and 107,121,235 shares of Common Stock outstanding immediately following the effective date of the Transaction. Therefore, the Reporting Persons' interest in the Common Stock of the Issuer immediately prior to the effective date of the Transaction represented 8.37% of the Issuer's Common Stock and the Reporting Persons' interest in the Common Stock of the Issuer immediately following the effective date of the Transaction represents 9.80% of the Issuer's Common Stock.  While the Reporting Persons' holdings in the Issuer's Common Stock increased following the acquisitions reported herein, their interest as a percentage of the aggregate outstanding shares of the Issuer's Common Stock decreased from what was reported on the Reporting Persons' Form 3 filed on September 28, 2015 as a result of the subsequent increase in the outstanding shares of the Issuer's Common Stock.  As a result, based on their holdings of 8.37% of the Issuer's Common Stock immediately prior the effective dates of the Transaction, the Reporting Persons were no longer subject to Section 16 as of the effective date of the Transaction and this Form 4 is being filed voluntarily to indicate that the Reporting Persons will no longer report any such transactions on Form 4 or Form 5.</remarks>

    <ownerSignature>
        <signatureName>/s/ Ian Kellow, as Head of Compliance of QH RE Asset Co LLC</signatureName>
        <signatureDate>2017-10-31</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/  Ian Kellow, as Head of Compliance of Qatar Investment Authority</signatureName>
        <signatureDate>2017-10-31</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
