LODAS Markets is opening a purpose-built auction venue for Apollo Debt Solutions' BDC fund interests — giving investors and advisors a transparent way to seek liquidity outside scheduled repurchase windows.
Auction Opens
Oct 28, 2026
Auction Closes
Nov 13, 2026
Venue
LODAS Markets
Trading, clearing & settlement
Eligible Fund
Apollo Debt Solutions BDC
Symbol: ADS
*BDC transactions may take up to six weeks to settle, compared with shorter settlement periods for interval funds and other alternative investments.
This extended timeline is due to transfer restrictions and processing windows established by the fund sponsors.
Overview
BDCs offer periodic repurchase opportunities, but investors and advisors often need flexibility outside those scheduled windows. This collaboration brings together market technology, an established fund manager, and trusted trading infrastructure to address that gap.
LODAS Markets
Operates the auction venue and marketplace technology, providing end-to-end trading, clearing and settlement, plus its own investor and advisor network.*
*via its wholly owned subsidiary LODAS Securities, LLC Member FINRA/SIPC
Apollo Debt Solutions
A leading global alternative asset manager specializing in private equity, credit and real assets, providing investment and retirement solutions to institutional and individual investors.
Auction Timeline
How the auction window works.
The auction runs during a defined window. Orders placed during the window are matched, reviewed, and settled through LODAS Markets' infrastructure.
1
OCT 28, 2026
Window Opens
Auction opens for eligible advisors and investors to place buy or sell orders for the applicable fund.
2
OCT 28 – Nov 13, 2026
Enter Orders
Advisors submit limit orders on behalf of clients (or clients complete onboarding directly).
3
OCT 13, 2026
Window Closes
The auction closes and orders are matched, reviewed and settlement begins.
4
Following Settlement Cycle
Clearing & Settlement
LODAS Markets clears and settles matched trades, with email notifications at each stage from order to funded proceeds.
**BDC transactions may take up to six weeks to settle, compared with shorter settlement periods for interval funds and other alternative investments.
This extended timeline is due to transfer restrictions and processing windows established by the fund sponsors.
For Financial Advisors
Two ways to bring your clients into the auction.
Whether you hold discretionary authority or need your client to complete their own steps, LODAS Markets supports both workflows. Full step-by-step guides are available below for download.
ADVISOR SETUP WALK-THROUGH
Discretionary Accounts
Advisor Places the Order
For advisors acting with discretionary authority on behalf of their client’s account.
Have ready: most recent brokerage statement, valid government-issued photo ID, and account opening documentation (Corp Res, Trust, etc.).
Set up your advisor account at app.lodasmarkets.com/signup and submit your advisor application.
Select Onboard Client, choose the client account type, and confirm discretionary authority.
Complete the account details and product selection, then enter order size and price.
Review and sign the Trading Account Application and order together.
For a buy order, fund the account via ACH, wire.
Place a limit order in the auction and wait for matching.
Advisor receives all notifications.
Non-Discretionary Accounts
Advisor Onboards, Client Confirms
For advisors without discretionary authority — the client completes their own onboarding and signature steps.
Have ready: most recent brokerage statement, valid government-issued photo ID, and account opening documentation.
Set up your advisor account at app.lodasmarkets.com/signup and submit your advisor application.
Select Onboard Client, enter the client’s details, holdings, and order information.
Submit the onboarding — your client receives an email invitation to continue.
Client confirms identity, and reviews the order the advisor submitted.
Client accepts disclosures and signs electronically to complete the application.
Both advisor and client receive notifications as the order is placed, matched, and settled.
FAQ
Common questions.
CONTACT
Contact Us
Ready for the auction window?
Set up your advisor account now so you’re ready to place orders while the window is open.