PhenixFIN Corp
phenixfc.comPhenixFIN Corp (NASDAQ: PFX) is a business development company (BDC) that makes loans and private equity investments in middle-market companies. It generates income primarily through interest on debt investments, including senior secured first lien term loans, senior secured second lien term loans, and senior secured notes, along with potential capital appreciation from equity and equity-related securities such as warrants and minority equity stakes. PhenixFIN is incorporated in Delaware and has operated as an internally managed BDC since January 1, 2021, when it transitioned away from an externally managed structure. The Company completed its IPO and commenced operations on January 20, 2011. It is elected as a regulated investment company (RIC) under Subchapter M of the Internal Revenue Code. David Lorber serves as Chief Executive Officer and Ellida McMillan as Chief Financial Officer, both appointed effective January 1, 2021. As of December 10, 2025, the Company's common stock closed at $41.50 per share, approximately 51.72% of then-current NAV.
Products & Services
Senior secured first lien term loans, senior secured second lien term loans, senior secured first lien notes, PIK instruments, warrants, minority equity securities, and preferred equity units deployed into middle-market portfolio companies across sectors including aerospace and defense, real estate, consumer discretionary, energy, construction, metals and mining, and media.
Revenue Model
Interest income on debt investments (cash pay and payment-in-kind, or PIK), plus realized and unrealized gains from equity securities, warrants, and minority equity positions in portfolio companies.
Customers & Markets
Middle-market private companies across multiple industries including aerospace and defense, real estate, consumer discretionary, energy (oil and gas), construction and building, metals and mining, media and broadcasting, and business and consumer services. Portfolio companies include names such as WHI Global LLC, Lucky Bucks LLC, Neptune Bidco US Inc. (dba Nielsen), Arcline FM Holdings LLC, and CB&L Associates Holdco I LLC, among others (as of September 30, 2025).
Financial Snapshot
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