Sixth Street Specialty Lending is a Business Development Company and regulated investment company that provides customized debt and equity financing to middle-market companies in the United States through a non-bank credit platform managed by Sixth Street Partners. The company invests primarily in first-lien debt, second-lien debt, mezzanine securities, and equity of highly leveraged, below-investment-grade middle-market companies, generating revenue through interest income on floating-rate loans, portfolio investment returns, and realized gains on equity positions. As a BDC required to maintain at least 70% of assets in securities of nonpublic or thinly traded U.S. companies, it must distribute at least 90% of investment company taxable income annually to shareholders and operates under regulatory asset coverage and borrowing limitations set by the Investment Company Act.