Externally managed, closed-end, non-diversified BDC that seeks total return from current income and capital appreciation through debt and related equity investments in U.S. lower middle-market companies (typically $5M to $50M of EBITDA). It invests in first lien, second lien, unitranche and unsecured debt with equity co-investments. At 2026-06-30 the portfolio was $419.5M at fair value across 77 companies, about 93% first lien debt.