Carlyle Secured Lending, Inc.

Carlyle Secured Lending, Inc. is a specialty finance company that operates as a closed-end, externally managed investment company. Formed in February 2012, the company began investment operations in May 2013 and started trading on the Nasdaq Global Select Market under the symbol "CGBD" in June 2017. Its primary goal is to generate current income and, secondarily, capital appreciation by building a portfolio of secured debt investments in U.S. middle market companies. The company's core investment strategy involves lending to U.S. middle market companies, defined as those with approximately $25.0 million or greater of earnings before interest, taxes, depreciation and amortization (EBITDA), typically supported by financial sponsors. This core approach is supplemented by additional lending and investing strategies that leverage Carlyle's Global Credit platform. Carlyle Secured Lending achieves its objective mainly through directly originating secured debt instruments. These include first lien senior secured loans (such as stand-alone first lien loans, first lien/last out loans, and "unitranche" loans) and second lien senior secured loans, collectively referred to as "Middle Market Senior Loans." A smaller portion of its assets is invested in higher yielding investments, which may include unsecured debt, subordinated debt, equities, and structured products. The Middle Market Senior Loans are generally provided to private U.S. middle market companies, often controlled by private equity firms, whose debt is typically rated below investment grade.