MidCap Financial Investment Corp

MidCap Financial Investment Corporation is a business development company (BDC) incorporated in Maryland and listed on Nasdaq, headquartered in New York. Formerly known as Apollo Investment Corporation, the company operates as a closed-end, externally managed, non-diversified investment company specializing in middle-market private equity and credit investments. The company provides a range of capital solutions to portfolio companies, including direct equity capital, preferred equity interests, common equity, warrants, and various forms of secured and unsecured debt instruments such as first lien loans, unitranche loans, second lien loans, and subordinated debt.

The company targets investments in private middle-market companies across diverse industries including construction and building materials, business services, aerospace and defense, telecommunications, healthcare and pharmaceuticals, energy, consumer products, and manufacturing. MFIC typically deploys between $20 million and $250 million per investment in portfolio companies with EBITDA under $75 million, with target investment maturities of five to ten years. Beyond direct lending and equity investments, the company also participates in secondary market purchases, collateralized loan obligations (CLOs), credit-linked notes (CLNs), and PIPES transactions.

The company primarily focuses investment activity on United States-based companies, though it retains flexibility to pursue non-U.S. opportunities and may hold cash equivalents, U.S. government securities, high-yield bonds, and publicly traded securities. As an externally managed BDC, the company does not disclose traditional employee counts.