Investor Presentaiton
Middle Market Lending - A Large and Stable Opportunity
Market Size
~200,000 U.S. Middle Market
companies representing over $10
trillion in annual revenue (1)
Continued Growth
Middle Market companies on
average posted 12.2% revenue
growth in 2022 and expect about
10% growth in 2023.(1)
Strong Credit Performance
Middle Market loans have historically
experienced lower loss rates than
broadly syndicated loans (2)
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Middle Market lending remains an attractive alternative to the broadly syndicated loan
market for companies seeking capital for business expansion or acquisition
Ability for borrowers to obtain customized solutions
■ Ease, speed and certainty of execution
Increase in dedicated capital to the sector
■ Value in establishing long-term relationships between borrowers, lenders and private equity sponsors
(1) Source: National Center for Middle Market at Ohio State University as of December 31, 2022
(2) Source: S&P, Fitch U.S. Leveraged Loan Default Insights
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