KCAP Financial Inc., formerly Kohlberg Capital Corp., is an internally managed business development company. The Company originates, structures and invests in senior secured term loans, mezzanine debt and selected equity securities primarily in privately held middle market companies. Its investment objective is to generate current income and capital appreciation from its investments. The Company defines the middle market as comprising companies with earnings before interest, taxes, depreciation and amortization (EBITDA) of $10 million to $50 million and/or total debt of $25 million to $150 million. In addition to its middle market investment business, the Company wholly owned portfolio company, Katonah Debt Advisors and its controlled affiliates, manage collateralized loan obligation funds (CLO Funds) that invest in syndicated loans, high-yield bonds and other corporate credit instruments. In February 29, 2012, the Company acquired Trimaran Advisors, L.L.C. (Trimaran Advisors).