Externally managed, non-diversified private BDC lending to U.S. middle-market companies ($25-100 million EBITDA), sponsored and non-sponsored, through Benefit Street Partners' private debt platform. Holdings are mainly first and second lien senior secured loans, plus mezzanine, equity, an 80% interest in a senior loan joint venture and asset-based finance platforms. 151 portfolio companies and $4.08 billion fair value at 6/30/2026; 93.5% of debt floating rate. Objectives stated: current income and capital appreciation. [10-K FY2025, Item 1; 10-Q Q2 2026; 6/30/2026]