American Capital Senior Floating, Ltd. (NASDAQ: ACSF) (“ACSF”) is an externally managed, non-diversified closed-end investment management company that invests primarily in first lien and second lien floating rate loans to large market, U.S. based companies (“Leveraged Loans”) and invests opportunistically in equity tranches of collateralized loan obligations ("CLOs") collateralized primarily by Leveraged Loans.
Our objective is to provide attractive, risk-adjusted returns to our stockholders over the long-term primarily through current income while seeking to preserve our capital. We intend to achieve this objective by selectively constructing and actively managing a leveraged portfolio comprised primarily of diversified investments in first lien and second lien floating rate loans to large market, U.S. based companies, or Leveraged Loans. We also opportunistically invest in equity tranches of CLOs collateralized primarily by Leveraged Loans and may invest in debt tranches of CLOs collaterized primarily by Leveraged Loans. In addition to these assets, we may selectively invest in loans issued by middle-market companies, mezzanine and unitranche loans and high yield bonds.
Our Corporate Structure
We are a newly-organized Maryland corporation. We are externally managed and advised by American Capital ACSF Management, LLC, an investment adviser that has been registered under the Investment Advisers Act of 1940, as amended (the “Advisers Act”). We operate as a non-diversified closed-end investment management company and have elected to be treated as a business development company ("BDC") under the Investment Company Act of 1940. We intend to elect to be taxed as a regulated investment company (“RIC”), as defined in Subchapter M of the Internal Revenue Code of 1986, as amended.
We are externally managed by American Capital ACSF Management, LLC, an indirect subsidiary of a wholly-owned portfolio company of American Capital, Ltd. (NASDAQ: ACAS), a publicly traded private equity firm and global asset manager with $84 billion in assets under management (including leveraged assets) as of March 31, 2014.