快速解套

Middle Market Lending

The Annaly Middle Market Lending Group (“AMML”) provides financing to private equity backed middle market businesses across the capital structure. AMML’s direct origination strategy, including anchoring club and syndicated transactions, centers around credit intensive focus on defensive, non-discretionary industries and strong partnerships with U.S.-based private equity sponsors and intermediaries to source financing opportunities. Comprised primarily of first and second lien loans, AMML investments represent $1.3bn of Annaly’s equity as of December 31, 2019. The robust credit work done in AMML gives Annaly a unique insight into domestic micro economies and is a powerful lens into the health of the business cycle. AMML’s investments complement Annaly’s longer duration fixed-rate agency mortgage-backed securities (MBS) portfolio, as they consist of shorter, floating-rate assets in comparison. AMML is a wholly-owned subsidiary of Annaly Capital Management, Inc.

 

 

Lien Position
1st Lien 65% #7c91a6
2nd Lien 35% #4e6f99
Loan Size (1)
$0mm – $20mm 11% #4e6f99
$20mm – $40mm 20% #00304c
$40mm – $60mm 20% #c6bbaa
$60mm + 49% #7c91a6
Industry (2)
Computer Programming / Data Processing
18%
Management / Public Relations Services 16%
Miscellaneous Business Services 8%  
Metal Cans / Shipping Containers
6%
Engineering, Architectural, & Surveying 6%  
Offices / Clinics of Doctors 5% 
Public Warehousing & Storage 5% 
Other 37%

Note: Data as of December 31, 2019. Percentages based on amortized cost and may not sum to 100% due to rounding.
1. Breakdown based on aggregate dollar amount of individual investments made within the respective loan size categories. Multiple investment positions with a single obligor shown as one individual investment.
2. Based on Standard Industrial Classification (SIC) industry categories. Other represents industries with less than 5% exposure in the current portfolio.