Prospect Capital publishes investor presentation on middle-market lending strategy and portfolio positioning
PSEC•Portfolio rotation and exit results
Portfolio rotation highlighted exits from CLO equity to 0%; the Valley Electric exit generated $281 million in net proceeds, 20.5% IRR, and 4.8x MOIC.
Capital structure and liquidity position
Capital structure showed 29% total debt capitalization, 71% equity capitalization, and 0.41x net debt-to-total equity.
Liquidity was cited at $1.6 billion of undrawn revolver commitments and cash; 66% of assets were described as unencumbered.
Investor presentation highlights portfolio mix and credit metrics
Prospect Capital outlined a $6.4 billion portfolio across 91 investments, weighted to senior secured debt at 84% and first-lien exposure at 72.5%.
Non-accrual loans measured 0.7% of total assets at fair value; .
