SLR Investment

What SLR Investment does

SLR Investment Corp. (NASDAQ: SLRC) is a yield-oriented, publicly traded Business Development Company (BDC) that invests directly and indirectly in senior secured loans of private U.S. middle market companies to generate current income distributed to shareholders. As of FY2025, SLRC managed a $3.3 billion portfolio of approximately 880 loans spanning roughly 110 industries, with 97.8% of the portfolio in senior secured positions and 100% of loans performing (zero non-accruals). The company is investment-grade rated by Moody's, Fitch, and S&P, and listed on NASDAQ in Q1 2010.

SLRC operates across eight investment strategies organized into two groups: (1) core direct lending — Sponsor Finance, Life Science Finance, and Lender Finance; and (2) commercial finance strategies executed through majority-owned subsidiaries — Corporate Leasing (Kingsbridge), Credit Solutions (formerly Crystal Financial), Equipment Finance (formerly Nations), Business Credit (formerly North Mill), and Healthcare ABL (formerly Gemino). The platform sources proprietary investment opportunities through a direct origination model with 190+ investment professionals across 20 U.S. offices and applies a private equity-style credit underwriting process with senior management involvement in each transaction.

SLRC is externally managed by SLR Capital Partners, LLC, co-founded in 2006 by Michael Gross (formerly of Apollo Management and Apollo Investment Corporation) and Bruce Spohler (formerly Co-Head of U.S. Leveraged Finance at CIBC World Markets). Revenue is generated primarily through interest income on the loan portfolio (gross yield ~11.6% in FY2025), supplemented by management and incentive fees on externally managed strategies. As a BDC with pass-through tax status, substantially all taxable income is distributed to shareholders through regular dividends. FY2025 NII of $1.59 per share covered the $1.64 annualized dividend at 97%, and the stock trades at $15-16 against NAV of ~$18, a 15-28% discount.

Name

SLR Investment

Legal name

SLR Investment Corp.

Website

https://slrinvestmentcorp.com

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

251–500 employees

Short description

SLR Investment Corp. (NASDAQ: SLRC) is a publicly traded Business Development Company providing senior secured debt financing to U.S. middle market companies across eight investment strategies, managing a $3.3 billion portfolio of approximately 880 loans across roughly 110 industries.

Ownership category

akta.pro rank

Product category

Business Development Company / Private Credit Lending

NAICS

Credit Intermediation and Related Activities (522), Portfolio Management and Investment Advice (523940)

SIC

Finance Services (6199), Asset-Backed Securities (6189)

akta.pro primary industry

Senior Secured Direct Lending (FSANADAA)

akta.pro secondary industries

Asset-Backed Securities (ABS) (FSACACAA), Private Credit — Structured Credit (CLOs, ABS, Private Securitizations) (FSAHAJAH)

Keywords

• Middle market lending
• Private credit
• Business development company
• Senior secured loans
• Commercial finance

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Interest Income from Loan Portfolio: SLR Investment generates current income by investing directly and indirectly in senior secured loans of private middle market companies. The company earns interest income from its $3.3 billion portfolio of approximately 880 loans across 110 industries, with yields compressed from 12.1% to 11.6% due to Federal Reserve rate cuts.
2. Dividend Distributions to Shareholders: As a Business Development Company with pass-through tax structure, SLRC distributes substantially all taxable income to shareholders through monthly/quarterly distributions. The company paid $1.64 annualized dividend per share, though coverage has been thin at 97% in FY2025.
3. Management and Incentive Fees: The company is externally managed by SLR Capital Partners, LLC, which earns management and incentive fees for overseeing the investment portfolio and administration.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

SLR Investment Corp is a yield-oriented Business Development Company that invests directly and indirectly in senior secured loans of private U.S. middle market companies, generating current income distributed quarterly to shareholders. The company provides customized debt financing solutions across eight strategies including Sponsor Finance, Life Science Finance, Lender Finance, Corporate Leasing, Credit Solutions, Equipment Finance, Business Credit, and Healthcare ABL, with a $3.3 billion portfolio of approximately 880 loans across 110 industries.

Product overview

SLR Investment Corp is a yield-oriented Business Development Company (BDC) that provides customized debt financing solutions to U.S. middle-market private companies. The company operates as a single unified investment platform managed by SLR Capital Partners, offering multiple investment strategies organized across two main categories: (1) core direct lending strategies including Sponsor Finance, Life Science Finance, and Lender Finance; and (2) commercial finance strategies offered through majority-owned portfolio companies including Corporate Leasing (Kingsbridge), Credit Solutions (SLR Credit Solutions/Crystal), Equipment Finance (SLR Equipment Finance/Nations), Business Credit (SLR Business Credit/North Mill), and Healthcare ABL (SLR Healthcare ABL/Gemino). The diversified portfolio spans cash flow lending, asset-based lending, equipment finance, and specialty finance, with typical investment sizes ranging from $500K to $250M depending on the strategy.

Differentiator

Problem solved

Functional benefit

Products and services

• Sponsor Finance

Named customers3 records

Segments5 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• SLR Capital Partners, LLCcoreImplementation/ SI/ Consulting PartnerSLR Investment is externally managed by SLR Capital Partners, LLC, an independent investment advisor registered with the U.S. Securities and Exchange Commission. SLR uses its direct origination platform to source proprietary investment opportunities and applies a private equity-style approach to credit underwriting. Co-founded by Michael Gross and Bruce Spohler in 2006, SLR and affiliates provide diversified commercial finance solutions.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Bain Capital Specialty Finance: A BDC focused on senior secured loans to U.S. middle-market companies. Directly comparable to SLRC in sponsor-backed middle-market lending focus, externally managed structure (Bain Capital Credit affiliate), and dividend yield-oriented BDC structure.
• Oaktree Specialty Lending: A BDC managed by Oaktree Capital focused on senior secured loans to U.S. middle-market companies. Comparable to SLRC in target borrower segment, senior secured focus, and externally managed BDC structure, with comparable investment grade ratings.
• Main Street Capital: A publicly traded BDC providing debt and equity capital to lower middle-market companies. Comparable to SLRC in yield-oriented BDC structure and middle-market focus, with deeper lower middle-market focus and internally managed structure.
• Capitala Finance: A BDC providing capital to lower middle-market and community-based businesses. Comparable to SLRC in middle-market focus and yield-oriented BDC structure, with greater focus on lower middle-market and mezzanine debt.
• Golub Capital BDC: A publicly traded BDC focused on senior secured loans to U.S. middle-market companies sponsored by private equity. Highly comparable to SLRC in borrower profile, direct origination model, and dividend-oriented structure, with a similarly diversified multi-strategy approach.
• New Mountain Finance: A BDC that originates senior secured loans to defensive, non-cyclical middle-market companies. Directly comparable to SLRC's focus on non-cyclical industries and middle-market PE-sponsored borrowers, with a similar externally managed structure (managed by New Mountain Capital, where SLRC CFO previously served).
• FS KKR Capital: A large publicly traded BDC providing senior secured loans to U.S. middle-market borrowers. Comparable to SLRC in target customer segment (PE-sponsored middle-market), investment grade ratings, and externally managed BDC structure, with slightly different sponsor mix.
• Ares Capital: The largest publicly traded BDC, providing senior secured loans to U.S. middle-market companies through a multi-strategy platform. Directly comparable to SLRC in target borrower profile, product mix, and externally managed BDC structure, but at substantially greater scale.

Emerging players

• Hercules Capital: A specialty finance company providing senior secured loans to venture capital-backed companies in technology, life sciences, and sustainable industries. Comparable to SLRC's Life Science Finance strategy at the venture-stage/specialty end of the spectrum, but not directly competitive in core middle-market sponsor finance.

Broad incumbents

• Blackstone Private Credit Fund: Blackstone's flagship private BDC providing senior secured loans to U.S. middle-market companies. Operates in the same private credit asset class as SLRC with a substantially larger capital base and broader sponsor relationships, but distributes via non-traded vehicle rather than a publicly listed BDC.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SLR Investment