ARCC

Ares Capital Corporation operates as a publicly traded business development company (BDC) that provides flexible financing solutions to middle-market companies in the United States. Headquartered in New York City and founded in 2004, ARCC specializes in direct lending through senior secured loans, mezzanine debt, and equity investments to support private equity sponsors and non-sponsored businesses. The company primarily targets enterprises with EBITDA between $10 million and $250 million across diverse industries including healthcare, software, business services, consumer products, and manufacturing. As one of the largest BDCs by market capitalization, Ares Capital manages an investment portfolio exceeding $23 billion across more than 480 portfolio companies. The firm operates as an externally managed closed-end fund, with Ares Management Corporation serving as its investment adviser. ARCC generates revenue primarily through interest income on debt investments and capital gains from equity positions. The company maintains investment-grade credit ratings from major agencies and has established itself as a leading provider of private credit to the middle market. Recent initiatives include expanding its direct origination capabilities and diversifying its portfolio across economic sectors. Ares Capital operates under the Investment Company Act of 1940 and has elected treatment as a regulated investment company for tax purposes, requiring it to distribute substantially all of its taxable income to shareholders as dividends.