Goldman Sachs BDC, Inc. is a specialty finance company that operates as a business development company under the Investment Company Act of 1940. It focuses on generating current income and, to a lesser extent, capital appreciation by providing direct originations of secured debt to U.S. middle-market companies. Its portfolio primarily consists of first lien, unitranche, and second lien senior secured loans, along with unsecured debt such as mezzanine debt and select equity investments. The company emphasizes negotiation, structuring, and holding investments to maturity, with the majority of revenue derived from interest income and dividends. Goldman Sachs BDC, Inc. invests in a diverse range of industries through positions in numerous portfolio companies, maintaining a high proportion of its assets in senior secured debt. Externally managed by Goldman Sachs Asset Management, L.P., it plays a key role in the private credit market by delivering financing solutions to middle-market businesses seeking growth capital or acquisition funding.