Profile: Prospect Capital Corp (PSEC.OQ)
5 Dec 2016
Prospect Capital Corporation, incorporated on April 13, 2004, is a financial services company. The Company primarily lends to and invests in middle market privately held companies. The Company is a closed-end investment company. The Company's investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. The Company invests primarily in senior and subordinated debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes. The Company works with the management teams or financial sponsors to seek investments with historical cash flows, asset collateral or contracted pro-forma cash flows. The Company makes investments, including lending in private equity sponsored transactions, lending directly to companies not owned by private equity firms, control investments in corporate operating companies, control investments in financial companies, investments in structured credit, real estate investments, investments in syndicated debt, aircraft leasing and online lending. The Company is managed by its investment advisor, Prospect Capital Management L.P.
The Company offers loans to companies, which are controlled by private equity firms. The Company offers first lien, second lien, unitranche or unsecured loans. The Company provides debt financing to companies owned by non-private equity firms, the company founder, a management team or a family. The Company's investments in corporate operating companies are structured as a combination of yield-producing debt and equity. The control investments in financial companies involves acquiring controlling stakes in financial companies, including consumer direct lending, sub-prime auto lending and other strategies. The Company's investments in these companies are structured as a combination of yield-producing debt and equity.
The Company makes investments in collateralized loan obligations (CLOs). The CLOs include a portfolio of syndicated loans and do not have direct exposure to real estate, mortgages, debt or consumer-based debt. The Company makes investments in real estate through its real estate investment trust (REIT), National Property REIT Corp. (NPRC). The Company's real estate investments are in various classes of developed and occupied real estate properties. The Company makes investments in loans and high yield bonds that are sold to a syndicate of buyers. It invests in debt, as well as equity in aircraft assets subject to commercial leases to credit-worthy airlines across the globe. The Company focuses on investing in both in-production and out-of-production jet and turboprop aircraft and engines, operated by airlines across the globe. The Company makes investments in loans originated by certain consumer loan and small and medium sized business (SME) loan facilitators. The borrowers are consumers and SMEs. The loans are serviced by the facilitators of the loans.
Prospect Capital Corp
10 E 40th St Fl 44
NEW YORK NY 10016-0301
Company Web Links
- BRIEF-Prospect Capital posts qtrly NII per share $0.22
- BRIEF-Prospect Capital invests total of about $72 million in acquisition of 8 student housing properties
- BRIEF-Prospect Capital NAV on June 30, 2016 stood at $9.62 per share
- BRIEF-Prospect Capital says invests $65 mln in first lien senior secured floating rate debt
- BRIEF-Prospect Capital invests $17 mln in first lien senior secured floating rate debt