BDC Facts & Stats | 39 
Areas of Focus 
Plans for IPO, liquidation, or liquidity 
event14 
vest in or originate debt investments in “defensive 
rowth” companies in non-cyclical industry niches 
Plan to liquidate within 6 years 
vest in first-lien senior secured debt and first-out 
ositions in unitranche loans, as well as junior debt 
vestments, such as second-lien loans, unsecured 
ebt, subordinated debt, and last-out positions in 
nitranche loans (including fixed- and floating-rate 
struments and instruments with payment-in-kind 
come) 
No 
vest in private debt opportunities 
No 
vest primarily in directly originated senior secured 
erm loans 
No 
vest in newly originated, privately negotiated senior 
ecured term loans in high-quality, established 
middle-market and upper middle-market companies, 
nd, in select situations, companies in special 
tuations 
No 
vest primarily in private credit opportunities in 
rectly originated assets, including loans and other 
ebt securities, made to, or issued by large private 
.S. borrowers, which it defines as companies with 
more than $75 million in EBITDA 
No 
vest primarily in directly originated senior secured 
erm loans 
Plan for liquidation after 4 years 
timulate economic growth and create and preserve 
obs in the states of New York, New Jersey, 
ennsylvania, and/or Connecticut (the “Target 
egion”), by originating investments in middle-
market businesses primarily domiciled, 
eadquartered, and/or have a significant operating 
resence in the Target Region 
Plan to liquidate within 7 years 

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