Ares Capital Corporation (ARCC)

Ares Capital Corporation is a NASDAQ-listed closed-end fund and business development company that focuses on providing capital to middle-market U.S. companies. Its investment activity includes growth capital, acquisition financing, recapitalizations, restructurings, rescue financing, and leveraged buyout-related transactions. The fund also engages in general refinancing and selectively pursues stressed or discounted debt opportunities.

Its portfolio approach spans a range of sectors, including manufacturing, business services, consumer products, health care products and services, and information technology services, with additional interest in areas such as restaurants, retail, oil and gas, and technology. Ares Capital generally targets companies with EBITDA between $10 million and $250 million and typically commits capital in the $30 million to $500 million range. Investments may be structured through first lien loans, revolvers, unitranche and second lien loans, mezzanine debt, private high yield, junior and subordinated debt, warrants, and non-control preferred or common equity. The fund is based in New York and also seeks board representation in portfolio companies.

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