Capital Southwest expands platform with $100M joint venture, second SBIC license

Filed May 19, 2026 · Period ending March 31, 2026 · Compared to 10-K May 20, 2025 · ~2 min read

Key Changes

• high

  Formed CapTrin, a 50/50 joint venture with Trinity Capital, committing $50M to invest in first-out senior secured debt. Post-period, funded $21M and transferred $47.1M of portfolio investments to the JV, which secured a $150M credit facility expandable to $350M.

  Business: CapTrin joint venture verify on EDGAR →
• high

  Received second SBIC license (SBIC II) in April 2025, enabling up to $175M in additional SBA-guaranteed leverage. Combined with existing SBIC I, total SBA capacity now $350M vs. $175M prior, providing low-cost long-term funding excluded from asset coverage calculations.

  MD&A: SBIC II license verify on EDGAR →
• high

  Issued $350M of 5.950% notes due September 2030 and redeemed $221.9M of shorter-dated notes (October 2026 and August 2028), extending maturity profile. Total debt increased to $1,148M from $969.9M; weighted-average rate rose to 6.00% from 5.28%.

  Risk Factors: September 2030 Notes verify on EDGAR →