Headquartered in Dallas, TX Fiscal year ends March NASDAQ: CSWC capitalsouthwest.com
Capital Southwest Corporation (Nasdaq: CSWC) is an internally managed business development company (BDC) with RIC tax treatment. It provides flexible financing to support the acquisition and growth of lower middle market businesses.
- **Target companies and deal size:** it typically invests $5 million to $50 million in companies with EBITDA between $3 million and $25 million.
- **Instruments:** it uses floating-rate first lien debt, second lien debt and non-control equity co-investments, primarily backing private equity sponsors but also doing non-sponsored deals.
- **Portfolio:** as of September 30, 2026, the investment portfolio was about $2.4 billion at fair value across 153 portfolio companies. It comprised 89.4% first lien, 1.0% second lien, 0.1% subordinated debt, 8.0% equity and 1.5% joint venture equity.
- **Industries:** the largest exposures are healthcare services, consumer services, consumer products, and media and marketing.
- **Subsidiaries:** it operates two SBA-licensed subsidiaries, Capital Southwest SBIC I, LP and SBIC II, LP.
- **Joint ventures:** it co-manages two joint ventures with Trinity Capital Inc., CapTrin Partners, LLC and Desert Star 2026 LLC; the latter provides exposure to technology lending.
- **Funding:** it funds itself through credit facilities, unsecured notes, convertible notes, SBA debentures and an at-the-market equity program.
- **Credit ratings:** it holds investment grade issuer ratings of Baa3 from Moody's and BBB- from Fitch.
Formed in 1961, the company elected BDC status in 1988 and launched its credit strategy in January 2015. It has 46 employees. Updated
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Capital Southwest Corporation (Nasdaq: CSWC) is an internally managed business development company (BDC) with RIC tax treatment.
The Wall Street consensus 12-month price target for CSWC is $25.08.
