Apollo, which is among the investors in the remodelled Genco, has disclosed a 6% stake in spin-off Baltic.
An SEC filing said various Apollo funds had amassed 3,052,645 shares in the bulker owner which are today worth a little over $10m.
Baltic boasts a fleet of 17 bulkers, including four newbuildings.
TradeWinds reported in July that executives were seriously considering a merger of Baltic and Genco, from which the former was spun-off in 2010.
