A pair of Apollo Investment Management LP appointees have resigned from the boards of CION Investment Corp and CION Investment Management LLC.
Joseph Glatt, an Apollo Investment appointee to CION Investment Corp's board, resigned effective immediately.
Glatt's decision to resign was not a result of a disagreement with CION on any matter relating to its operations, policies or practice. With his departure, the board's size was reduced to six directors from seven.
Also, Richard Kilcoyne has resigned as Apollo Investment's appointee to CION Investment Management LLC's investment committee, effective immediately.
The two resignations are linked to a new and ongoing relationship among Apollo Investment, CION Investment Corp and CION Investment Management. Earlier, CION Investment Management LLC's sponsor, CION Investment Group LLC, set up a joint venture with Apollo.