Main Street Capital Investor Day Presentation Deck
Asset Management Business
MAIN's asset
management business
represents additional
income diversification
and the opportunity for
greater shareholder
returns
MAIN's internally
managed operating
structure provides
MAIN's shareholders the
benefits of this Asset
Management Business
Growth of asset
management business
is increasingly driven by
MAIN's Private Loan
investment strategy
MAIN(1) is the investment adviser to several third party clients in its Asset
Management Business
●
MAIN(1) is the investment adviser to and administrator of MSC Income Fund,
Inc. (MSIF), a non-listed BDC
MAIN(1) provides asset management services, including sourcing, diligence and
post-investment monitoring
●
●
●
MAIN(1) is the investment adviser and administrator to a private fund and a
separately managed account with the investment strategies for these clients
solely focused on MAIN's Private Loan investment strategy
MAIN recently launched fund raising for its second private fund
●
MAINST
●
CAPITAL CORPORATION
-
Benefits to MAIN
Highly predictable source of recurring base management fee income, with
opportunity for upside through incentive fees
No significant increases to MAIN's operating costs to provide services (utilize
existing infrastructure and investment capabilities and leverage fixed costs)
Monetizing the value of MAIN franchise
Significant positive impact on MAIN's financial results
$8.1 million contribution to net investment income in the first quarter of
2023(2)
●
MAIN(1) receives management fees and incentive fees
Base management fee of 1.75% of total assets
Incentive fees - 20% of net investment income above a hurdle rate and 20%
of net realized capital gains
- $22.2 million contribution to net investment income in the year ended
December 31, 2022(²)
-
- $103.2 million of cumulative unrealized appreciation as of March 31, 2023
NYSE: MAIN
(1) Through MSC Adviser I, LLC (the External Investment Manager), MAIN's wholly-owned unconsolidated subsidiary
(2) Contribution to Net Investment Income includes (a) dividend income received by MAIN from the External Investment Manager and (b) operating expenses allocated from MAIN
to the External Investment Manager
Main Street Capital Corporation
mainstcapital.comView entire presentation