AP Alternative Assets, L.P. (AAA) is a closed-end limited partnership whose partners include AAA Guernsey Limited (the Managing General Partner), which holds approximately 100% of the general partner interests in AAA, and the holders of common units representing limited partner interests in AAA. Its investment mandate is to invest substantially all of its capital in Apollo-sponsored entities, funds and private equity transactions. Its portfolio consists of a single opportunistic investment in the economic equity of Athene Holding Ltd. (Athene Holding). Through its subsidiaries, Athene Holding provides insurance products focused primarily on the retirement market and its business focuses on issuing or reinsuring fixed indexed annuities. The products and services offered by Athene Holding include reinsurance services offered to third-party annuity providers, and institutional products, such as funding agreements. AAA is managed by Apollo Alternative Assets, L.P.