Great Elm Capital Corp
greatelmcc.comWhat Do They Do?
Provides debt financing and makes equity investments in middle-market companies and specialty finance businesses, including commercial lenders.
10-K for FY2025, filed Mar 2, 2026
How Do They Make Money?
Earns primarily interest on debt investments, generally paid quarterly or semi-annually, plus dividends on equity investments, gains on investment sales, lease income and other fees.
10-K for FY2025, filed Mar 2, 2026We generate revenue primarily from interest on the debt investments that we hold. We may also generate revenue from dividends on the equity…View ↗
$17.9M
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10-K for FY2025, filed Mar 2, 2026
$17.9M ↗
Who Are Their Customers?
Sources investment opportunities directly from issuers and through secondary markets via relationships with industry professionals.
10-K for FY2025, filed Mar 2, 2026We also make investments throughout other portions of a company’s capital structure, including subordinated debt, mezzanine debt, and…View ↗
Do Revenues Turn Into Profits?
No. It lost $31.8M in FY2025.
10-K for FY2025, filed Mar 2, 2026
10-K for FY2025, filed Mar 2, 2026
−$31.8MView ↗
How Are They Changing?
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May 4, 2026
Jason Reese became CEO, succeeding Matt Kaplan
Kaplan remained with the external investment adviser as a portfolio manager.
Sources
8-K, filed May 4, 2026
On May 1, 2026, the Company's board of directors appointed Jason W. Reese to serve as the Company’s Chief Executive Officer effective…View ↗
Shrinking. Revenue fell 29% in 4 years, from $25.3M in FY2021 to $17.9M in FY2025, about 8% a year.
Added CLO investing
The older report described debt and equity investments in middle-market and specialty finance companies; the latest also describes investing in CLO securities and loan warehouses through a joint venture.
10-K for FY2022, filed Mar 2, 2023 10-K for FY2025, filed Mar 2, 2026We seek to generate both income and capital appreciation through debt and income-generating equity investments, including investments in…View ↗
Moved specialty finance assets into GESF
The older report described GESF as overseeing specialty finance investments; the latest says the company contributed operating subsidiaries and other specialty finance assets to GESF in exchange for equity and subordinated debt.
10-K for FY2022, filed Mar 2, 2023 10-K for FY2025, filed Mar 2, 2026We have recently expanded our investment allocation in specialty finance companies as well as in participation opportunities generated by…View ↗
On September 1, 2023, we contributed investments in certain of our operating company subsidiaries and other specialty finance assets to our…View ↗
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