Company: FCRX
Filing Date: 2025-07-14
Form Type: N-2/A
Source: 0001193125-25-158263
Chunk: 7

Company: Crescent Capital BDC, Inc.
Filing Date: 2025-07-14
Form: N-2/A
Chunk 7
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 the Advisor is entitled to receive a base management fee and may also receive incentive fees based on income and capital gains. The Advisor has voluntarily waived its right to receive income incentive fees attributable to the investment income accrued as a result of the investments in Great American Capital Partners II LP, WhiteHawk III Onshore Fund LP and Freeport Financial SBIC Fund LP.

Our investment objective is to maximize the total return to our stockholders in the form of current income and capital appreciation through debt and related equity investments. We invest primarily in secured debt (including first lien, unitranche first lien and second-lien debt) and unsecured debt (including mezzanine and subordinated debt), as well as related equity securities of private U.S. middle-market companies. We may purchase interests in loans or make debt investments, either (i) directly from our target companies as primary market or private credit investments (i.e., private credit transactions), or (ii) primary or secondary market bank loan or high yield transactions in the broadly syndicated “over-the-counter” market (i.e., broadly syndicated loans and bonds). Although our focus is to invest in less liquid private credit transactions, we may from time to time invest in more liquid broadly syndicated loans to complement our private credit transactions.

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Our investment objective is accomplished through:

| • |     | accessing the origination channels that have been developed and established by Crescent; |

| • |     | originating investments in what we believe to be middle-market companies with strong business fundamentals, generally controlled by private equity investors that require capital for growth, acquisitions, recapitalizations, refinancings and leveraged buyouts; |

| • |     | applying Crescent’s underwriting standards; and |

| • |     | leveraging Crescent’s experience and resources to monitor our investments. |

Our investment philosophy emphasizes capital preservation through credit selection and risk mitigation. We expect our targeted portfolio to provide downside protection through conservative cash flow and asset coverage requirements, priority in the capital structure and information requirements. As a BDC under the Act and a RIC under the Code, our portfolio is subject to diversification and other requirements. See “Part I. Item 1. Business—Regulation as a Business Development Company—Election to be Taxed as a Regulated Investment Company”in our most recent Annual Reporton Form 10-K,which is incorporated by reference herein, and “ U.S. Federal Income Tax Considerations” below. From time to time we may form direct or