Prospect Capital Corporation is a mezzanine debt and private equity firm that manages a publicly-traded, closed-end, dividend-focused investment company (NasdaqNM: PSEC), which completed its initial public offering in 2004.
Prospect primarily provides non-control debt financing to management teams or financial sponsors as well as selectively making control acquisitions by providing multiple levels of the capital structure. Using both partnership and publicly traded closed-end structures, Prospect has invested more than $3 billion since its inception in 1988 in multiple asset classes, including:
As a yield-oriented company, Prospect seeks investments with historical cash flows, asset collateral, or contracted pro forma cash flows. Prospect's mutual fund has paid a continuous, regular dividend since inception. Holdings are diversified and include, for example, midstream processor Gas Solutions, construction firm Unitek, potato chip maker Shearer’s, and more than 60 other companies spanning the range of American and Canadian industry. While the company’s past expertise has been in the energy and industrial sectors, Prospect Capital has broadened its scope to include healthcare, manufacturing, and specialty minerals among others.