Base Management F
Company Name 
IPO Date 
Adviser 
% of Gross  
Assets 
Eq
Gladstone 
Investment 
Corporation 
6/23/2005 
Gladstone 
Management 
Corporation 
2.0% 
Ares Capital 
Corporation 
10/05/2004 
Ares Capital 
Management LLC 
1.5% 
Prospect Capital 
Corporation 
7/27/2004 
Prospect Capital 
Management LLC 
2.0% 
MidCap Financial 
Investment 
Corporation 
(formerly Apollo 
Investment 
Corporation) 
4/05/2004 (fee 
structure revised 
3/18/2010 and 
8/18/2018) 
Apollo Investment 
Management, L.P. 
1.5% on assets up to 
200% of total net assets 
and 1.0% on gross assets 
exceeding 200% 
Oxford Square 
Capital Corp. 
11/20/2003 (fee 
structure revised 
4/01/2016) 
Oxford Square 
Management, LLC 
2.0% 
Gladstone Capital 
Corporation 
8/24/2001 
Gladstone 
Management 
Corporation 
1.8% 
Rand Capital 
Corporation 
5/30/19714 
Rand Capital 
Management, LLC 
1.5% 
 
 
 
 
4 Rand Capital Corporation had its IPO in 1971, and elected to become a BDC in 2001. 

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