SLR Investment Corp

SLR Investment Corp. is a business development company that invests in secured debt (first lien unitranche and second lien), subordinated unsecured debt, minority equity, and strategic income-oriented control equity. It focuses on leveraged middle market companies and pursues strategies such as leveraged buyouts, acquisitions, recapitalizations, general refinancing, and growth capital. The fund targets a broad range of industries, including aerospace and defense, logistics, asset management, automotive, banking, food and beverage, real estate, media, healthcare, software, and utilities. It also invests in life sciences, with a focus on specialty pharmaceuticals, medical devices, and biotechnology.

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SLR Investment outlines initiatives to lift NII over next year as nonaccruals rise to 2

SLR Investment Corp. reported second-quarter net investment income of $0.33 per share and net asset value of $18 per share, down less than 90 basis points from the prior quarter, as two loans moved to nonaccrual status. Chairman Michael Gross called the credit issues isolated and noted a watch list of just 2.5% of the portfolio. The company is leaning harder into specialty finance, with nearly all of last quarter's originations in that area, and expects the trend to continue. Management highlighted over $900 million of available capital and several growth initiatives, including expansion in asset-based lending and life science staffing, that it expects will lift net investment income over the next year. The board declared a quarterly distribution of $0.31 per share.

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