BDC Facts & Stats | 38 
n filings with the SEC through August 31, 2026.  Private BDCs do not have shares listed 
or another similar liquidity event. 
Areas of Focus 
Plans for IPO, liquidation, or liquidity 
event14 
nvest primarily in a portfolio of senior secured loans 
o private middle-market U.S. companies, including 
irectly or indirectly originated senior secured direct 
rivate credit and senior secured broadly syndicated 
oans; may also invest, to a lesser extent, in second-
en loans, mezzanine loans, subordinated loans, 
sset-backed loans, structured credit, high-yield 
onds, credit fund interests, preferred securities, 
quity participation instruments, and CLO equity 
No 
nvest in senior secured debt, second-lien loans, 
mezzanine or junior loans, and equity co-
nvestments; targeting primarily lower and core 
middle-market U.S. companies with $10.0 million to 
75.0 million in annual EBITDA 
No 
nvest in a portfolio of sponsor-backed senior secured 
oans (including first-lien, second-lien, and unitranche 
oans consisting of term loans, delayed-draw term 
oans, and revolving loans) to primarily U.S. 
orrowers 
No 
nvest primarily in middle-market companies with 
etween $10.0 million and $150.0 million in annual 
BITDA 
No 
nvest principally in a portfolio of directly originated 
oans, secured floating and fixed rate syndicated 
oans, corporate bonds, and other types of credit 
nstruments 
No 
ngs. Statements such as, “We intend to explore a potential liquidity event for our stockholders from time to 

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