Saratoga Investment Corporation is a specialty finance company that invests primarily in leveraged loans and mezzanine debt issued by private the United States middle-market companies, both through direct lending and through participation in loan syndicates. It is an externally managed, closed-end, non-diversified management investment company. The Company�s portfolio consists primarily of investments in leveraged loans (both first and second lien term loans) issued by middle market companies. Leveraged loans are senior debt instruments that rank ahead of subordinated debt of the portfolio company. It also purchases mezzanine debt and make equity investments in middle market companies. The Company is externally managed and advised by Saratoga Investment Advisors, LLC, a New York-based investment firm affiliated with Saratoga Partners, a middle market private equity investment firm.