Ares Capital Corporation (NASDAQ: ARCC) is a specialty finance company that provides integrated debt and equity financing solutions to U.S. middle market companies. We invest primarily in first and second lien loans and mezzanine debt, which in some cases includes an equity component such as warrants. To a lesser extent, we also make equity investments. We seek current income and capital appreciation through our debt and equity investments. We originate investments in market-leading companies with a history of stable cash flows, proven competitive advantages and experienced management teams. The company's strategy is to serve as a lead agent or investor in order to optimize due diligence and capital structure as well as enable active monitoring of the investment. Our strategy is to maximize risk-adjusted returns throughout economic cycles. As of September 30, 2009, our portfolio was valued at approximately $2.0 billion, invested across 94 portfolio companies and backed by 62 different private equity sponsors.

The company is externally managed by Ares Capital Management LLC, a subsidiary of Ares Management LLC, an SEC-registered investment adviser and alternative asset investment management firm with approximately $30 billion* of committed capital under management as of September 30, 2009. Ares Capital is a closed-end, non-diversified management investment company that has elected to be regulated as a Business Development Company under the Investment Company Act of 1940. We leverage off of the Ares Management platform, benefiting from its relationships, infrastructure, industry research, reputation and significant multi-asset class management expertise.