CION Investment Management II, LLC

CEO and CIO Thomas Kennedy leads the investment committee. He is joined by co-presidents Michael A. Reisner and G. Michael Beller, who oversee origination and portfolio management. All three are named in SEC filings and the firm's public offering documents (per SEC filings, 2023).

It is not a family office. CION Investment Management II is the external adviser to a BDC — CION Investment Corporation — which is registered under the 1940 Act. The BDC issues public shares and must file quarterly and annual reports with the SEC.

CION focuses on senior secured loans, unitranche facilities, and asset-based lending to middle-market US companies. It also makes direct loans to healthcare services and energy firms. Its check sizes typically fall between $5 million and $50 million (per SEC filings, 2023).

The firm raises capital through public offerings and private placements of its BDC's common stock and convertible notes. It does not manage a separate family pool of assets but aggregates institutional and accredited investor capital.

Based on its portfolio filings, CION lends to healthcare services, energy (including renewables), real estate, and general industrial middle-market companies. It avoids early-stage venture, startups, and pure equity positions.

The firm primarily originates debt. However, its BDC can hold equity warrants or minority equity stakes as part of its loan structures, per its investment guidelines, but the core strategy remains senior secured and private credit.

CION Investment Management II earns fees based on assets under management and incentive income tied to portfolio returns. The BDC's board, composed of independent directors, oversees conflicts and fee approvals. This is typical for publicly traded BDCs, not family offices (per SEC filings).