Highly Selective Private Credit Investing
*Distribution yield is calculated as trailing twelve-month distributions paid as of December 13, 2024, divided by the closing market share price as of December 13, 2024. There is no guarantee distributions will continue at the current level, if at all.
CION Investment Corporation (NYSE: CION) is a publicly-listed business development company that primarily provides senior secured loans to U.S. middle-market companies.
CION has been focused on private credit since 2012. We believe our track record demonstrates strong performance and consistent income and our ability to be highly selective has resulted in a history of downside protection.
CION is externally managed by its registered investment adviser and affiliate, CION Investment Management, LLC (CIM). CIM is an affiliate of CION Investments, a vertically integrated alternative investment manager and retail distribution platform focused on designing, offering, and managing alternative investment solutions for today’s investor.
A Portfolio Built for
Income Investors
Portfolio Highlights (as of September 30, 2024)*
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*The information presented summarizes certain CION holdings as of the date indicated herein. This summary does not provide a complete portfolio overview but just a sampling of holdings. Please refer to CION’s Quarterly Report on Form 10-Q or Annual Report on Form 10-K, as relevant, for further details on the summarized information. There can be no assurance that CION’s future capital will be invested in a manner similar to the investments described herein. Percentages represent approximate figures. Past performance does not guarantee future results, which may vary. Data excludes short term investments, which represent an investment in a fund that invests in highly liquid investments with average original maturity dates of three months or less. Information is based on the relative fair value of the underlying portfolio holdings.
**Represents “Total assets” presented in the consolidated balance sheets within CION’s Annual Reports on Form 10-K or Quarterly Reports on Form 10-Q, as applicable, available on www.sec.gov.
A Track Record of Performance*
* All information is as of September 30, 2024, unless otherwise noted. Past performance does not guarantee future results, which may vary.
** The loss rate is calculated by CION based on operations since December 2012 (inception) as the aggregate investment cost at write-off, less (i) any economic benefit realized during the loan (interest and fees) and (ii) any economic recovery, divided by the total invested capital. This rate is presented on an annualized basis and, with rounding, is approximately zero percent since CION’s inception. Also, this rate is presented to demonstrate CION’s investment portfolio characteristics and does not reflect the investment performance experienced by a CION investor.
CIM Differentiators
What do we invest in?
We invest primarily in senior secured debt, including first lien loans. To a lesser extent, we may also invest in second lien loans and unitranche loans, collateralized securities and structured products, unsecured debt, and equity of US middle-market companies.
What is our targeted investment size?
We target US middle-market companies with annual EBITDA of $20-$75 million and investments with an average targeted hold of approximately $30 million.
How do our portfolio companies use our investment proceeds?
Our portfolio companies generally use the proceeds of our investments for growth capital, market/product expansion, recapitalizations, acquisitions/leveraged buyouts, and refinancings.