The prospectus states the Fund seeks current income that grows over time and, secondarily, long-term capital appreciation. It invests mainly in directly originated loans to U.S. lower and middle market private companies (EBITDA generally $2 million to $75 million), broadly syndicated loans and commercial real estate loans on office and industrial property, with equity often taken alongside its loans. The target mix is about 85% debt and 15% equity at cost, with investments of $1 million to $30 million. Debt is mainly floating rate, below investment grade and unrated. The Fund may borrow up to 1940 Act limits and co-invests with affiliated BDCs under an SEC order.