Main Street Capital Corporation

David Magdol is the President and Chief Investment Officer and has overseen investment operations since August 2011. He also serves on the firm’s executive and investment committees. In his role as a Senior Managing Director on the lower middle market team, he originates and executes new investments and sits on portfolio company boards. CEO Dwayne Hyzak and COO Jesse Morris also participate in investment committee decisions.

Main Street operates as a business development company that went public in 2007. Unlike a traditional private equity fund, a BDC has permanent capital, so Main Street does not face a fixed fund life or pressure to sell portfolio companies on a preset schedule. The firm can hold equity positions indefinitely, making it structurally closer to a patient family-backed investor than to five-year fund managers.

Main Street makes direct investments — both debt and equity — into operating companies. It does not market itself as a fund-of-funds or a limited partner committing to third-party private equity funds. The firm’s lower middle market strategy involves originating, negotiating, and structuring proprietary one-stop financings directly with company owners and management teams.

MSC Income is an externally managed entity whose CEO and Chairman is Dwayne Hyzak. David Magdol serves as its President and CIO, with Jesse Morris as COO and Jason Beauvais as General Counsel. The firm shares Main Street’s executive leadership, but its investment mandate and portfolio are separate from the publicly traded BDC. Main Street’s website describes the arrangement as an additional pool of capital under common management.