MSC Income Fund Grows Private Loan Commitments to $94.2M in Q3

The portfolio now spans 81 companies, with 92% in first lien senior secured debt and 8% in equity or other securities.

October 10, 2025

Strong Q3 Deployment Reflects Targeted Lending Strategy

In Q3 2025, MSC Income Fund committed $94.2 million in new and expanded private loan deals—backing middle-market companies across sectors like infrastructure services, industrial manufacturing, and specialty coatings. Funded investments for the quarter totaled $74.6 million.

This isn’t passive capital. These are targeted first lien senior secured loans—often with equity components—that help fuel M&A, growth initiatives, and recapitalizations. MSC Income is clearly focused on private equity-backed borrowers, and this quarter’s activity shows how that strategy plays out.

Where the Capital Went

• $30 million in debt plus $1.2 million in equity supported an HVAC and plumbing services provider in the multifamily and commercial real estate space.


• A transformer company serving data centers and industrial clients received $25 million in loans and $1 million in equity.


• A custom glass fabricator raised $21.2 million in senior secured debt alongside $1 million in equity.


• Two existing borrowers—one in specialty chemicals and the other in technical services for data centers—saw their credit facilities upsized by $6.5 million and $5.1 million, respectively.

Portfolio Snapshot and Strategy

As of September 30, the Fund's private loan portfolio stood at $761.1 million at cost, spread across 81 companies. Most of that— 92% —is in first lien senior secured debt. The rest is equity or other securities.

MSC Income targets companies with annual revenue between $25 million and $500 million. It also maintains a separate lower middle market strategy, partnering with Main Street Capital to co-invest in smaller businesses. That portion of the portfolio supports companies with revenue in the $10 million to $150 million range.

Across both strategies, the goal is clear: provide flexible financing to private companies through a mix of debt and equity. This quarter’s results show steady momentum behind that approach.