for on investment discuss I execution overview by a update of our of of today's then begin will the Thanks, the Elizabeth. I providing by will couple highlights. an brief our followed results business quarter, a derisking strategy. financial call
update results discuss review environment, greater market detail. Greg credit we'll activity. investment And will third provide in remarks, then our my our financial quarter on Tanner an quality. Following the will
questions. call the open then to will We
decline an share. overview income of with for begin per quarter. $XX.XX me Net financial the decrease NAV certain period, asset non-core the results at end our Net the offset December, was impact of the liquid to Let of $X.XX selloff credit assets by our is for in primarily in markets value was a of in quarter-over-quarter. investment quarter given positions the partially X.X% The the buybacks. quoted stock accretive on attributable
Moving update we portfolio through quality, and assets, investment shifting to exposure portfolio the lien non-core lower by higher continue execution Origination Direct diversified and of true to opportunistic reducing loans on to and platform. into Apollo and the the reposition management an risk, our positions strategy, sales, our the derisk active sourced concentrated corporate first
We position the size continue by position to trend size. manage average evidenced concentration our risk in downward and proactively as
be with desired continues Apollo to deals allowing compete AINV to major co-invest hold to an Apollo the us based Our market entities and other to size other ability of time allowing at to same execution, is participants. win certainty on while able The maintain size. with its advantage platform
commitments, $X.X and lending which billion in continue the to in has XXXX, platform and made with or receiving capital In billion life based XX% finance, Since asset barriers lender order has in co-investment entry committed to $X addition, expertise. we our avoid amount. which financial over of areas sciences, significant AINV to of mid-cap of this
activity companies, was activity, first new our activity invested Sales XX XX% companies. in or was strategy, in co-investment in activity pursuant across XX $XXX of and new totaled backing revolver first and on net million million million rate, excluding with we XX% $XXX quarter, the floating $X XX sponsors Consistent lien lien was investment with portfolio million. track $XXX order. or repayments companies, investment to $XX XXX% excluding XX% million, A focused deployment records. made existing term proven investments During of XX% resulting revolver the loans, in
totaled capital to million at down funding And of We core oil the a of our the at million from with driven and end and revolver million. gas portfolio, of of assets of return to the by representing $XX.X investments, XX.X% net up and quarter ended addition, Non-core year cash decreased portfolio remaining the investments. XX% XX.X% of partial $X XX% the approximately structured the credit we of ago. from from December, $X receipt our assets In of at of during had quarter. compared Merx net end September, of the from XX% part in a the of the September repayment of from sale one two end
December, end XX% co-investment at of portfolio. addition, the and order made the investments our corporate pursuant of portfolio of lending XX% to the In total represented
and one-for-three what initial Moving stock to an adjusted share stock buybacks per be share, our market on reverse the close The attractive end a outstanding, AINV stock. has we split value with We December split. on repurchase the trading December completed have our program The effect million believe opportunity quarter. or split us NAVs the of on deliver component adjusted other during topics, the the was to stock $X.XX $XXX.X XX of business we added below our to for the to the present reverse we again began reverse of shareholders. which Since stock to X. selloff inception basis equity shares in of approximately of and XX.X% split repurchase which a at did is Nov took the consider plan repurchased our through to NAV
Board today's release, XXXX million approved announce since total should which to it our share to plan, has we to stock seen $XX million, million trade $XXX at repurchase authorization a intend meaningful remains our continue to repurchase you've which of brings We NAV. pleased are the that press another to continue available. to discount As $XX.X in
Executive in our and Merx, portfolio filed CEO of Apollo Global aircraft retaining his seen of we President Rothschild, mid-January, you an Officer X-K have and of Gary that leasing an announcements, as Merx. employee company, roles President Turning to while as announcing other became Management, Chief the
some provide color move and to AINV. the me benefits Let this regarding
concentration As given capabilities Merx AINV's our over you're large years. last leasing, our selectively in couple been recycling aircraft building the and of servicing within capital we aware, have out
XX% we During offset the this near ability servicing and it Merx, Merx to retaining time, the assets believe the to arrangement has Apollo to the advisor, We from The opportunity also itself The will with as believe source and offset which investment fee under Apollo, transactions fee capital an amount income by aviation fee for medium advisory the income company's assets this in in we fees not on availing any In the be investments expect us earned and to Merx. generate been management exhibit transactions today. by earnings the fee Apollo's the in AINV XX-Q agreement thereby all between a in of do Over fundraising order reduce offset. connection against value agreement. sourced covered platform allow fee successfully raised. the enhancing due sheet AINV's time aviation filed has investment fee agreement no other entire of the offset while this will necessary we the to of balance as Merx funds, capabilities. of access fees increased was improve connectivity Apollo for concentration to Form Merx's maximize our offset managing included new through and will in servicing Apollo from for agreement. is term, benefit
March distribution, our Board to as I'll of a per the turn shareholders Turning to share that, $X.XX has XXXX. over the Tanner. call XX, distribution With of to record approved
