Cion Investment Corp
Cion Investment Corporation is a business development company. It invests primarily in senior secured loans, including unitranche, first lien, second lien, long-term subordinated, and mezzanine loans, as well as equity interests such as warrants or options, corporate bonds, and other debt securities of middle-market companies. The firm focuses on growth capital, acquisitions, leveraged buyouts, market/product expansion, refinancing, and recapitalization investments. It may invest up to 30% of assets opportunistically in other investments, including securities of larger public companies and foreign securities, and also invests in the secondary loan market. It avoids start-ups, turnarounds, and companies with speculative business plans. Preferred industries include high tech, healthcare, pharmaceuticals, business services, media, chemicals, plastic, rubber, telecommunication, consumer services, advertising, printing and publishing, consumer goods, durables, diversified financials, and others such as homebuilding, restaurants, beverage and tobacco bars, broadcasting, distributors, non-durable good distribution, food beverage and tobacco, energy, oil gas and consumables fuels, insurance, aerospace and defense, industrial machinery, paper and forest product machinery, information technology, metals and mining, and real estate. It primarily seeks investments in the United States, targeting $5 million to $50 million in companies with EBITDA between $25 million and $75 million, with an average targeted hold of $30 million. It also purchases minority interests in the form of common or preferred equity, typically alongside its debt investments or through co-investment with a financial sponsor. Exits are sought through an initial public offering of common stock, a merger, a sale, or other recapitalization.
USA