SLR Investment Corp (SLRC) is an externally managed BDC that lends to U.S. middle-market companies, focusing on senior secured, primarily first lien loans. SLRC is managed by SLR Capital Partners and has no employees of its own. SLRC operates across four lending strategies: asset-based lending (ABL), equipment finance, sponsor finance (cash flow lending), and life science lending. ABL — the largest strategy at roughly 44% of the comprehensive portfolio — provides revolving credit facilities to companies secured by working capital assets like accounts receivable and inventory, operated through subsidiaries including SLR Credit Solutions and SLR Healthcare ABL. Equipment finance (~32% of the portfolio) is run primarily through Kingsbridge Holdings, which focuses on mid-ticket equipment leasing to large corporate borrowers. Sponsor finance (~15%) provides first lien term loans to private equity-backed companies in defensive sectors, and life science lending (~7%) provides senior secured loans to late-stage drug and medical device companies. SLRC funds its portfolio with a mix of equity and debt, targeting net leverage of 0.9x–1.25x, and earns income primarily through interest on floating-rate loans tied to SOFR, plus origination and structuring fees. SLRC pays SLR Capital Partners a base management fee of 1.50% on gross assets and a performance incentive fee above a 7% hurdle rate. Over the past two years, SLRC has deliberately rotated away from cash flow lending — where competition has compressed spreads — toward specialty finance strategies, which SLRC argues offer higher yields and stronger collateral support.