, /PRNewswire/ -- The Board of Directors of FS Credit Opportunities Corp. (the Fund) (NYSE: FSCO) announced the monthly distribution for each of October, November and December 2025. The distribution of $0.0678 per share will be paid on October 31, November 28, and December 31, 2025. Further information on the distribution is summarized in the charts below. By declaring dividends for the next three months in advance, the Fund reinforces its commitment to delivering consistent income to shareholders. This app ...

Core Insights - Apollo has appointed Yasuo Kashiwagi as Head of Japan to enhance its role in providing flexible private capital solutions in the Japanese market [1][3] - The firm has been active in Asia Pacific for nearly two decades, with a dedicated Tokyo office established in 2019, and has expanded its local team to over 30 professionals [2][3] - The appointment of Kashiwagi is aimed at driving Apollo's strategic growth in Japan, focusing on deepening institutional and regulatory relationships [3][4] Company Strategy - Apollo's strategy in Japan is to provide tailored capital solutions that align with the long-term needs of institutions and corporates, particularly in light of Japan's demographic challenges [4] - The firm aims to build trusted relationships and deliver scalable, flexible capital to address urgent demands for retirement income solutions [4] - Kashiwagi's leadership is expected to enhance Apollo's integrated platform, which manages approximately $20 billion in assets in Japan, offering a full suite of investment strategies [4][5] Market Position - The Japanese market presents long-term structural trends that align with Apollo's strengths, as institutions increasingly seek private capital for financing and partnerships [4] - Apollo's recent activities in Japan include expanding its wealth management, credit, and hybrid businesses, as well as forming new partnerships to enhance lending and retirement offerings [4] - As of June 30, 2025, Apollo manages $840 billion in assets globally, indicating its significant presence and growth potential in the alternative asset management sector [5]

Financial Data and Key Metrics Changes - The company reported first quarter revenues of $325 million, which is 1% below the same period last year, with adjusted pretax income of $56 million and adjusted EPS of $1.05, marking record Q1 adjusted net income and EPS [4][6][10] - Adjusted pretax margin improved to 17.3% from 16.8% year over year [10] - The effective tax rate for the first quarter was 16.5%, with expectations for the full year to remain around the same rate [10][12] Business Line Data and Key Metrics Changes - Revenues in Strategic Advisory increased modestly compared to the previous year, while revenues in Restructuring and PJT Park Hill decreased slightly year over year [6][14] - The company expects full year 2025 Strategic Advisory revenues to be significantly higher than 2024 levels, driven by anticipated closings of previously announced transactions [16][82] Market Data and Key Metrics Changes - The current environment is characterized by volatile capital markets, subdued M&A activity, and fragile business confidence, impacting overall market sentiment [5][19] - The number of announced M&A transactions declined by more than 15% compared to the previous year, despite a modest increase in the dollar value of global announced M&A [15][19] Company Strategy and Development Direction - The company remains committed to investing in its strategic advisory franchise to position itself for future opportunities, despite current market uncertainties [18] - The firm is experiencing elevated activity levels in liability management, with expectations to maintain performance consistent with last year's record results [13][81] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the firm's outlook for the year, stating it remains substantially unchanged despite current economic uncertainties [19][81] - The company anticipates a potential increase in restructuring and liability management activity if economic pressures persist [13][30] Other Important Information - The company ended the quarter with $227 million in cash and no funded debt outstanding [11] - A dividend of $0.25 per share was approved, to be paid on June 18, 2025 [12] Q&A Session Summary Question: Thoughts on Strategic Advisory and partner productivity in a normalized environment - Management indicated that in a normalized environment, there could be a meaningful increase in partner productivity due to better network effects and franchise value [21][23] Question: Growth algorithm for restructuring business amid economic uncertainty - Management affirmed their commitment to the restructuring business, noting that they do not view themselves as capacity constrained and expect continued elevated activity levels [25][28] Question: Discussions with private equity regarding M&A and IPOs - Management noted a slowing of activity in the private equity space, particularly in capital return and IPOs, but emphasized ongoing interest in high-quality assets [35][37] Question: Impact of high yield market stress on liability management assignments - Management acknowledged that both liability management and bankruptcies are likely to increase in a risk-off environment, with more opportunities for restructuring [49][50] Question: Regulatory posture on M&A deals under the new administration - Management described the regulatory environment as mixed, with some confidence in moving forward with deals, but noted that large transactions are still being scrutinized [65][67] Question: Recruiting environment and potential for increased hiring - Management indicated that while demand for talent remains strong, the ability to attract individuals may improve as market conditions evolve [68][70]