Investcorp Credit Management BDC is a closed-end business development company that invests primarily in debt securities of privately held U.S. middle-market companies, typically with enterprise values below $750 million, structuring investments across first lien loans, unitranche facilities, and selective equity instruments ranging from $5 million to $25 million per deal. The company targets firms with established cash flows, experienced management, and strong equity cushions, focusing on credit quality and capital preservation as traditional lenders have reduced mid-market lending availability. It generates returns through interest income on debt investments, origination and commitment fees, and potential appreciation on equity warrants, while employing leverage through a senior secured revolving credit facility to enhance returns for shareholders.