• MidCap Financial Investment Corporation annual report for year ended Dec. 31, 2025 highlighted continued focus on directly originated first-lien, floating-rate lending to US middle-market borrowers sourced through MidCap Financial.
• Portfolio mix stayed heavily senior-secured, with management pointing to covenant protections, broad industry diversification, and limited exposure to more cyclical segments such as software.
• Credit performance showed pockets of stress rather than broad deterioration, with non-accruals rising during year and several challenged positions resolved through restructurings or paydowns.
• Company reduced exposure to Merx Aviation Finance through aircraft sales, insurance recoveries tied to Russia-related detentions, and other repayments, with further reduction targeted in 2026.
• Capital structure actions included a new CLO, repricing of another CLO, and an amended revolving credit facility extending maturity to October 2030, while board cut quarterly dividend rate for 2026 and authorized a USD 100 million share repurchase plan.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Midcap Financial Investment Corporation published the original content used to generate this news brief on May 06, 2026, and is solely responsible for the information contained therein.