As a direct lender, TCRD provides debt (first and second lien secured loans, including unitranche investments, and mezzanine) and non-control equity (preferred and common stock, including warrants) financings to middle market private equity sponsors and companies. Since April 2010, after we completed our initial public offering and commenced principal operations, we have been responsible for making, on behalf of ourselves, managed funds and separately managed account, over approximately an aggregate of $1,878 million in commitments into 941 separate portfolio companies or investment vehicles through a combination of both initial and follow-on investments.
THL Credit’s investment objective is to generate both current income and capital appreciation, primarily through privately negotiated investments in debt and equity securities of middle market companies. We define middle market companies to mean both public and privately-held companies with annual revenues of between $25 million and $500 million. We invest primarily in middle market companies that are located in North America in the form of senior secured loans, mezzanine debt and equity investments.
Our investment strategy relies on a proactive, comprehensive approach to transaction sourcing, a robust due diligence process, underwriting expertise supported by strong industry knowledge, and ongoing active portfolio management.