History

History

Prospect Capital Management, which manages Prospect Capital Corporation and other investment vehicles, and its predecessor investment companies commenced business in 1988 when several senior executives who managed the merchant bank and high yield units of Merrill Lynch formed Prospect Street Investment Management, succeeded by Prospect Capital Management today (together, "Prospect"). Since 1988, Prospect has specialized in a wide range of private equity investments, including first and second lien, subordinated and mezzanine loans, growth and venture capital, and leveraged buyouts.

Prospect Capital Corporation ("PSEC") completed its initial public offering July 27, 2004 as a Business Development Company making first and second lien, subordinated and mezzanine loans to middle market businesses, and also initiating and completing control acquisitions for its own account.