Core Insights - Ares Capital reported strong financial results for 2025, achieving record levels of new investment commitments and maintaining a stable dividend yield of 10% [1][2] Financial Performance - In Q4, Ares Capital generated $0.50 per share in core earnings, exceeding its quarterly dividend of $0.48 per share, continuing a trend of core earnings surpassing dividend payments [2] - For the full year, core earnings were reported at $2.01 per share, which also covered the $1.92 per share in dividends paid [2] Investment Commitments - Ares Capital made $5.8 billion in new investment commitments in Q4 across 30 new portfolio companies and 84 existing ones, with 80% being first-lien, senior-secured loans [3] - The company exited $4.7 billion in investment commitments during the same period, resulting in a record total of $15.8 billion in gross commitments for the year, while exiting $12.1 billion [3] Portfolio Valuation - The investment portfolio was valued at $29.5 billion at year-end, an increase from $26.7 billion at the end of 2024, encompassing 602 portfolio companies [4] Balance Sheet Strength - Ares Capital enhanced its balance sheet by adding a record $4.5 billion in new debt commitments while maintaining sufficient liquidity for new investments [5] Early 2026 Performance - The company has made $1.4 billion in new investment commitments through late January 2026, with $709 million in commitments exited, and has an additional $2.2 billion in potential investments in its backlog [6] - Ares Capital estimates carrying forward $1.38 per share of excess taxable income from the previous year for distribution in 2026, providing a cushion for its dividend payments [7]

Group 1 - BlackRock Debt Strategies Fund (DSU) is a closed-end fund that offers exposure to a diverse range of debt investments, which can generate attractive income [1] - The fund is part of a strategy that combines classic dividend growth stocks with Business Development Companies, REITs, and Closed End Funds to enhance investment income while achieving total returns comparable to traditional index funds [1] - The approach aims to create a hybrid system that balances growth and income, targeting a total return on par with the S&P [1]

Core Insights - BlackRock Debt Strategies Fund (DSU) is a closed-end fund that offers exposure to a diverse range of debt investments, which can generate attractive income [1] Group 1: Fund Structure and Strategy - The fund is structured to provide efficient income generation through various debt investments [1] - The investment strategy includes a mix of classic dividend growth stocks, Business Development Companies, REITs, and Closed End Funds to enhance investment income while achieving total returns comparable to traditional index funds [1] Group 2: Performance and Management - The fund aims to create a hybrid system that balances growth and income, targeting total returns on par with the S&P [1]

Core Insights - Crescent Capital BDC, Inc. (NASDAQ: CCAP) is structured as a business development company focused on generating attractive total returns from its debt investment portfolio [1] - The company lends capital to businesses, aiming to create a hybrid investment strategy that combines growth and income [1] Company Overview - Crescent Capital BDC, Inc. operates as a business development company, which is designed to provide financing to small and mid-sized businesses [1] - The company emphasizes the importance of high-quality dividend stocks and other assets that offer long-term growth potential [1] Investment Strategy - The investment approach includes a mix of classic dividend growth stocks, Business Development Companies, REITs, and Closed-End Funds to enhance investment income [1] - The strategy aims to achieve total returns comparable to traditional index funds, specifically the S&P [1]

Company Overview - Crescent Capital BDC, Inc. (NASDAQ: CCAP) is structured as a business development company focused on generating attractive total returns from its portfolio of debt investments [1] Investment Strategy - The company lends capital to businesses, aiming to create a hybrid investment strategy that combines growth and income [1] - The approach includes a mix of classic dividend growth stocks, Business Development Companies, REITs, and Closed End Funds to enhance investment income while achieving total returns comparable to traditional index funds like the S&P [1]

Core Insights - Blue Owl Capital Corporation (NYSE: OBDC) operates as a business development company focused on generating earnings through a diverse portfolio of debt investments [1] - The company lends capital to businesses, aiming to create a hybrid investment strategy that combines growth and income [1] Company Overview - OBDC is characterized as a business development company that seeks to provide capital to various businesses [1] - The investment strategy includes a mix of classic dividend growth stocks, Business Development Companies, REITs, and Closed End Funds to enhance investment income [1] Investment Strategy - The company emphasizes a hybrid system that balances growth and income, aiming to achieve total returns comparable to traditional index funds like the S&P [1]

Company Overview - New Mountain Finance (NASDAQ: NMFC) operates as a business development company focused on providing attractive total returns through a portfolio of debt investments [1] Investment Strategy - The company generates earnings by lending capital, aiming to create a hybrid investment strategy that combines growth and income [1] - The approach includes a mix of classic dividend growth stocks, Business Development Companies, REITs, and Closed End Funds to enhance investment income while achieving total returns comparable to traditional index funds like the S&P [1]