Apollo Commercial Real Estate Finance, Inc. is a real estate investment trust (REIT) that primarily originates, acquires, invests in and manages performing commercial first mortgage loans, commercial mortgage-backed securities (CMBS), subordinate financings and other commercial real estate-related debt investments in the United States. It is a commercial real estate finance company that provides financing solutions to real estate owners. The Company is externally managed and advised by ACREFI Management, LLC, an indirect subsidiary of Apollo Global Management, LLC. The Company intends to utilize derivative financial instruments to hedge the interest rate risk associated with its borrowings. The Company also may engage in a variety of interest rate management techniques that seek to mitigate changes in interest rates or other potential influences on the values of its assets.