PTMN - Portman Ridge: Sustainable 10.4% Yield With Substantial Capital Appreciation Potential
Portman Ridge is a business development company ("BDC") that invests in performing, well- established middle market businesses that operate across a wide range of industries. It employs fundamental credit analysis, targeting investments in businesses with relatively low levels of cyclicality and operating risk. It originates transactions from middle market financial sponsors and various intermediaries.
Portman Ridge is the new name for KCAP, the new symbol is PTMN. KCAP was an under managed small BDC that had very little proprietary deal flow and a confusing CLO origination business along with associated equity positions. On April