Lends to U.S. middle market companies, mainly through newly originated, privately negotiated senior secured floating-rate term loans, with a stated focus on non-sponsor (founder- and family-owned) borrowers plus select sponsor-backed deals. Deal flow comes from a Wells Fargo referral arrangement and Centerbridge's own network. The mandate also permits second lien, unsecured and mezzanine debt, asset-based financings, structured products and equity-related securities, and syndicated loans without limit. At June 30, 2026 the book was about 92% first lien across 24 borrowers.