Prospect Capital Corporation
Prospect Capital Corporation (NASDAQ: PSEC) is a publicly traded Business Development Company that originates debt and equity investments in U.S. middle-market companies through a multi-vehicle platform spanning lending, real estate credit, and structured credit.
- Company typePublic
- Founded2004
- HeadquartersNew York, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Prospect Capital Corporation does
Prospect Capital Corporation (NASDAQ: PSEC) is a publicly traded Business Development Company externally managed by Prospect Capital Management L.P., a Delaware limited partnership whose general partner is Prospect Management Group GP LLC. Founded as a BDC in 2004 and rooted in predecessor firms dating to 1988, the company is led by Chairman and CEO John F. Barry III, President and COO M. Grier Eliasek, CFO Kristin L. Van Dask, and Head of Administration Daria Becker, supported by 140–150+ professionals operating from offices in West Palm Beach (headquarters), Darien, Connecticut, and New York. Prospect originates and manages a portfolio of debt and equity investments in U.S. middle-market companies across middle-market lending, lower middle-market one-stop financings ($15M–$200M+), commercial real estate credit, and structured credit (CLO equity and debt).
The firm operates a multi-vehicle platform comprising PSEC (the traded BDC), Priority Income Fund (a registered closed-end fund focused on structured credit), the Prospect Floating Rate and Alternative Income Fund (a non-traded BDC for senior secured loans), the Prospect Credit REIT (a non-traded REIT for U.S. real estate credit), and the Prospect Enhanced Yield Fund (an interval fund for structured credit). Across these vehicles, Prospect manages approximately $9.4 billion in assets and has cumulatively invested over $23.7 billion across nearly 500 deals since 1988. Its go-to-market is sales-led and relationship-driven, targeting independent sponsors, family offices, management teams, and private equity firms seeking flexible one-stop financing for platforms, add-ons, refinancings, and growth capital.
Prospect Capital Corporation firmographics
Firmographics- Name
- Prospect Capital Corporation
- Legal name
- Prospect Capital Corporation
- Website
- https://prospectcap.com
- Company type
- Public
- Founded year
- 2004
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Prospect Capital Corporation (NASDAQ: PSEC) is a publicly traded Business Development Company that originates debt and equity investments in U.S. middle-market companies through a multi-vehicle platform spanning lending, real estate credit, and structured credit.
- Ownership category
- akta.pro rank
Prospect Capital Corporation industry classification
Industry- Product category
- Business Development Company / Private Credit
- NAICS
- Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Senior Secured Direct Lending (FSANADAA)
- akta.pro secondary industry
- Financial Planning–Led RIAs (FSAAACAB)
Keywords
Where Prospect Capital Corporation is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Prospect Capital Corporation business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Net Investment Income: As a Business Development Company (BDC), Prospect Capital generates revenue primarily through interest income on loans to middle-market companies, dividend income from equity investments, and realized gains on portfolio exits. The company reported net investment income of $78 million or $0.16 per common share for Q3 2026 (fiscal quarter ended March 31, 2026). Revenue is recurring in nature from the loan portfolio's interest payments, with additional income from equity dividends and periodic realized gains from portfolio company exits.
Go-to-market motion2 records
Distribution channels5 records
Marketing channels5 records
Prospect Capital Corporation product offering
Product offeringCore offering
Prospect Capital Corporation is a publicly traded Business Development Company (NASDAQ: PSEC) that lends to and invests in U.S. middle-market and lower middle-market privately held companies through senior secured loans, unitranche debt, convertible debt, preferred equity, and common equity. The firm operates multiple investment vehicles (Priority Income Fund, Prospect Floating Rate and Alternative Income Fund, Prospect Credit REIT, Prospect Enhanced Yield Fund) and pursues four strategies: Middle-Market Lending, Lower Middle-Market, Real Estate, and Structured Credit (CLOs).
Product overview
Prospect Capital Corporation operates as an alternative investment management firm offering a platform of investment vehicles and strategies. The core product is Prospect Capital Corporation, a publicly-traded BDC (NASDAQ: PSEC), supplemented by four alternative investment vehicles: Priority Income Fund (structured credit closed-end fund), Prospect Floating Rate and Alternative Income Fund (non-traded BDC for senior secured loans), Prospect Credit REIT (non-traded real estate credit REIT), and Prospect Enhanced Yield Fund (interval fund for structured credit). These vehicles are supported by four investment strategies: Middle-Market Lending, Lower Middle-Market, Real Estate, and Structured Credit, enabling the firm to provide flexible capital solutions across credit, private equity, and real estate sectors.
Differentiator
Problem solved
Functional benefit
Brands
- Priority Income Fund: Registered closed-end fund that primarily invests in structured credit
- Prospect Floating Rate and Alternative Income Fund
- Prospect Credit REIT
- Prospect Enhanced Yield Fund
Products and services
- Prospect Capital Corporation (NASDAQ: PSEC)
- Priority Income Fund
Quantifiable outcome
- 4.8x multiple of invested capital achieved on Valley Electric investment
- +5 more outcomes
Companies that use Prospect Capital Corporation
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
Prospect Capital Corporation technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Prospect Capital Corporation partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- RIA ChannelcorePartnership with RIA Channel for delivering continuing education webinars to financial advisors. The partnership provides CE credits (CFP, IWI, CFA) on topics including private credit, CLOs, real estate private credit, medium term notes, lower middle-market investing, preferred stock, and understanding private credit. This is an ongoing educational partnership that supports the company's advisor-focused marketing strategy.
Scale indicators14 records
Recent moves7 records
Expansion highlights5 records
Prospect Capital Corporation competitors and assessment
Company assessmentDirect peers
- Ares Capital Corporation: Largest publicly traded BDC (NASDAQ: ARCC), directly comparable to Prospect as a middle-market direct lender offering senior debt and equity-linked investments. Ares Capital competes for the same independent sponsor and lower middle-market deal flow as PSEC, though typically at larger average check sizes.
- Main Street Capital Corporation: Internally managed BDC (NYSE: MAIN) that also targets lower middle-market companies with debt and equity investments. Closely comparable to Prospect on customer segment and strategy, and widely regarded as the highest-quality BDC operator due to its internally managed structure.
- Golub Capital BDC: Publicly traded BDC (NASDAQ: GBDC) sponsored by Golub Capital, focused on one-stop senior and unitranche loans to U.S. middle-market companies. Directly comparable to Prospect's middle-market lending strategy, with similar sponsor relationships and deal sizing.
- FS KKR Capital Corp: Publicly traded BDC (NYSE: FSK) resulting from the merger of Fifth Street Finance and a KKR-managed BDC. Provides senior secured loans to U.S. middle-market borrowers with a structure similar to PSEC, including an external manager arrangement.
- Sixth Street Specialty Lending: Publicly traded BDC (NYSE: TSLX) managed by Sixth Street, providing senior secured loans to U.S. middle-market companies. Directly comparable to PSEC's middle-market lending strategy with similar sponsor relationships and float income model.
- SLR Investment Corp: Publicly traded BDC (NASDAQ: SLRC), formerly Solar Capital Partners, providing senior secured loans to U.S. middle-market companies. Directly comparable to Prospect on middle-market lending strategy and externally-managed BDC structure.
- New Mountain Finance Corporation: Publicly traded BDC (NASDAQ: NMFC) managed by an affiliate of New Mountain Capital, focused on senior and unitranche lending to defensive middle-market industries. Comparable to Prospect's middle-market strategy with similar middle-market sponsor and management team targeting.
- Oaktree Specialty Lending Corporation: Publicly traded BDC (NASDAQ: OCSL) managed by Oaktree Capital, providing senior secured loans to middle-market borrowers. Comparable to Prospect on middle-market lending focus, with an external manager structure similar to PSEC's.
Broad incumbents
- Blackstone Private Credit Fund: Non-traded BDC managed by Blackstone Credit, the largest private credit manager globally. Competes with Prospect for direct lending opportunities but at materially larger scale and ticket sizes, representing both direct competition and a benchmark for industry economics.
- Carlyle Credit Income Fund: Non-traded BDC managed by Carlyle's Global Credit segment, investing primarily in CLO debt and equity tranches with some middle-market lending. Comparable to Prospect's structured credit strategy and broader BDC platform model.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Prospect Capital Corporation social profiles
Digital presenceProspect Capital Corporation financial estimates
Financial estimateRevenue estimate
Valuation estimate
Prospect Capital Corporation leadership team
Management profileNumber of profiles
Profiles4 records
Prospect Capital Corporation subsidiaries and ownership
Company hierarchySubsidiaries3 records
Prospect Capital Corporation funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Prospect Capital Corporation M&A and investment
M&A and investmentM&A2 records
Investments48 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Prospect Capital Corporation
What does Prospect Capital Corporation do?
Prospect Capital Corporation is a publicly traded Business Development Company (NASDAQ: PSEC) that lends to and invests in U.S. middle-market and lower middle-market privately held companies through senior secured loans, unitranche debt, convertible debt, preferred equity, and common equity. The firm operates multiple investment vehicles (Priority Income Fund, Prospect Floating Rate and Alternative Income Fund, Prospect Credit REIT, Prospect Enhanced Yield Fund) and pursues four strategies: Middle-Market Lending, Lower Middle-Market, Real Estate, and Structured Credit (CLOs).
Is Prospect Capital Corporation a public or private company?
Prospect Capital Corporation is a public company. It is classified as public and is currently operating.
When was Prospect Capital Corporation founded?
Prospect Capital Corporation was founded in 2004. It employs 101 to 250 people.
Where is Prospect Capital Corporation based?
Prospect Capital Corporation is headquartered in New York, United States, in the North America region.
How does Prospect Capital Corporation make money?
One revenue line is on record: net Investment Income.
Who are Prospect Capital Corporation's main competitors?
Direct peers on record are Ares Capital Corporation, Main Street Capital Corporation, Golub Capital BDC, FS KKR Capital Corp, Sixth Street Specialty Lending, SLR Investment Corp, New Mountain Finance Corporation and Oaktree Specialty Lending Corporation. Broad incumbents are Blackstone Private Credit Fund and Carlyle Credit Income Fund.
Does Prospect Capital Corporation have an API?
No public API is recorded for Prospect Capital Corporation.
What industry is Prospect Capital Corporation in?
Prospect Capital Corporation's product category is Business Development Company / Private Credit. Its primary akta.pro industry code is FSANADAA, Senior Secured Direct Lending, with a secondary code of FSAAACAB, Financial Planning–Led RIAs. Its NAICS code is 523940 and its SIC code is 6282.