Middle Market Lending

Annaly Middle Market Lending LLC (“AMML”) provides financing to private equity backed middle market businesses across the capital structure. AMML’s direct origination strategy centers around strong partnerships with U.S.-based private equity sponsors and intermediaries to source financing opportunities. AMML also sources debt products by anchoring club and syndicated transactions. AMML investments represent $0.6bn of Annaly’s equity dedicated to credit as of March 31, 2017. The robust credit work done in AMML gives Annaly a unique insight into domestic micro economies and is a powerful lens into the health of the business cycle. AMML’s investments complement Annaly’s longer duration fixed-rate agency Mortgage-Backed Securities (MBS) portfolio, as they consist of shorter, floating-rate assets in comparison. AMML is a wholly-owned subsidiary of Annaly Capital Management, Inc.

Please click here to access the AMML fact sheet.

Lien Position
1st Lien 66% #7c91a6
Unsecured/Mezz 1% #c6bbaa
2nd Lien 34% #4e6f99
Loan Size (1)
$0mm – $20mm 24% #4e6f99
$20mm – $40mm 42% #00304c
$40mm – $60mm 17% #c6bbaa
$60mm + 17% #7c91a6
Industry (2)
Computer Prgm and Data Processing 16% #00316c
Offices and Clinics of Doctors of Medicine 11% #c7bcaa
Miscellaneous Business Services 10% #7c91a6
Insurance Agents, Brokers and Service 9% #a4a4a4
Public Warehousing & Storage 7% #475768
Commerical Fishing 5% #3d5257
Personnel Supply Services 4% #001d41
Drugs 4% #626262
Aircraft and Parts 4% #027ba0
Other 31% #03abcd

Please click here to access Annaly MML’s fact sheet.

Note: Data as of March 31, 2017. Percentages based on principal outstanding and may not sum to 100% due to rounding.
(1) Breakdown based on aggregate $ amount of individual investments made within the respective loan size buckets. Multiple investment positions with a single obligor shown as one individual investment.
(2) Based on Standard Industrial Classification (SIC) industry categories.

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