BCP Investment Corporation (BCIC) is a Business Development Company (BDC) that makes senior secured loans — primarily first-lien term loans — to privately-held middle market companies with EBITDA of $10-50M. BCIC has no employees and is externally managed by Sierra Crest Investment Management, an affiliate of BC Partners. BCIC's ~$501M portfolio spans 108 borrowers across 41 industries, with an average loan size of ~$3.5M. About 82% of the portfolio is direct debt, with the remainder in two joint ventures, legacy CLO equity positions, and a modest equity book. Roughly 90% of loans are floating-rate and SOFR-linked, making earnings sensitive to benchmark rate movements. BCIC borrows at roughly 6-6.5% and lends at roughly 10-13%, with leverage amplifying the spread. As a regulated investment company, BCIC distributes at least 90% of taxable income to shareholders. BCIC sources deal flow through private equity sponsors, regional banks, and financial advisers, and argues that its ~40% allocation to non-sponsored borrowers provides better pricing and less competition. BCIC has grown primarily through mergers with smaller BDCs — including OHAI, GARS, HCAP, and most recently Logan Ridge Finance — using scale to spread fixed costs and improve borrowing terms. Management views BCIC as a consolidation vehicle in a fragmented BDC market and has signaled an active pipeline for further acquisitions.