Saratoga Investment Corp. NT 23
New York Stock ExchangeCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Spain
- IPO Date
- Dec 6, 2016
- Similar Companies
- Business
- Saratoga Investment Corp. NT 23 is a business development company specializing in providing customized financing solutions primarily to middle market companies in the United States. The company offers a comprehensive range of financing products including subordinated debt; first and second lien loans; one-stop and unitranche loan structures; mezzanine debt; co-investments; and equity capital through preferred and common equity. Saratoga’s investments span various industries such as aerospace, automotive aftermarket and services, business products and services, consumer products and services, education, financial services, healthcare products and services, logistics and distribution, manufacturing, software and technology services, specialty chemicals, media, and telecommunications. The company also manages an SBIC-licensed subsidiary and a collateralized loan obligation (CLO) fund. Founded in 2007 and headquartered in New York, Saratoga Investment Corp. leverages diverse funding sources and a permanent capital base to support its financing activities, targeting equity sponsors, family-owned businesses, fundless sponsors, and management teams for tailored capital structures. Recent major developments include strong portfolio growth with net originations exceeding $50 million in recent quarters and the return of key investments, such as Zollege, to accrual status, reducing non-accrual exposure to only 0.2% of portfolio fair value. The company reported a 3.6% increase in net asset value (NAV) and a 0.4% increase in NAV per share in its 2026 fiscal second quarter, along with a quarterly return on equity of 13.8%, outperforming the BDC industry average. Saratoga has also raised significant equity capital, including over $34 million in 2024, to strengthen its balance sheet and support portfolio expansion. It maintains available borrowing capacity exceeding $400 million, including from SBA debentures and credit facilities, to fund new investments and debt repayments. Saratoga Investment Corp. continues to focus on providing flexible financing and supportive partnership arrangements to lower middle market companies, emphasizing durable portfolio company performance and prudent credit management in a volatile macroeconomic environment. Its investment strategy integrates debt and equity financing solutions to facilitate business growth, recapitalization, acquisition financing, and transitional financing needs for its target clientele. The company maintains a robust pipeline of originations and demonstrates continued commitment to enhancing shareholder value through disciplined investment and capital management practices. This description incorporates the latest publicly available information about Saratoga Investment Corp. NT 23, including recent portfolio performance, capital raises, and strategic activity up to late 2025.
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