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  "documentTitle": "Main Street Capital | Investor Day Presentation Deck | 155 slides",
  "authorId": "main-street-capital",
  "authorName": "Main Street Capital Corporation",
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  "presentationDate": "2023-06-01 00:00:00",
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  "notes": "LMM stands for Lower Middle Market.",
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      "kind": "callout",
      "text": "LMM investment portfolio is a pool of high quality, seasoned assets with attractive risk-adjusted return characteristics",
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      "text": "(1) As of March 31, 2023\n(2) These credit statistics exclude portfolio companies on non-accrual and four companies for which EBITDA is not a meaningful metric",
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      "text": "High quality, seasoned LMM portfolio\n- Total LMM investment portfolio at fair value equals 122% of cost\n- Equity component of LMM portfolio at fair value equals 191% of cost\n- Significant portion of LMM portfolio has de-leveraged and a majority of the LMM portfolio investments have experienced equity appreciation\n- 50 LMM portfolio companies with unrealized appreciation on equity investments\n- Net unrealized appreciation on LMM equity investments of $427.2 million",
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      "text": "Median LMM portfolio credit statistics(2):\n- Senior leverage of 2.9x EBITDA through MAIN debt position\n- 2.6x EBITDA to senior interest coverage\n- Total leverage of 3.1x EBITDA including debt junior in priority to MAIN\n- Free cash flow de-leveraging improves credit metrics and increases equity appreciation",
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      "text": "Average investment size of $26.7 million at fair value or $21.9 million on a cost basis (less than 1% of total investment portfolio)",
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      "kind": "paragraph",
      "text": "Opportunistic, selective posture toward new investment activity over the economic cycle",
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      "kind": "title",
      "text": "LMM Investment Portfolio(1)",
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