Press Release - Golub Capital

NEW YORK, March 2, 2026 – Golub Capital was recognized by Private Debt Investor (PDI) as Senior Lender of the Year, Americas for the seventh time.

“Our resilience and deep specialization in sponsor finance helped Golub Capital deliver another year of strong performance for our partners in 2025. This award from PDI is an honor and a reflection of our decades-long approach to partnerships grounded in shared success,” said David Golub, President of Golub Capital.

Golub Capital has now won 26 PDI awards since 2014.¹ The Firm was recognized as Lender of the Decade, Americas and Senior Lender of the Decade, Americas in 2023.² Golub Capital has also previously received four PDI awards for BDC Manager of the Year, Americas.

The annual PDI Awards recognize fund managers, investors and those working in advisory roles assisting the global private debt industry that have set the benchmark during the year, as decided on by the PDI editorial team.

About Golub Capital
Golub Capital is a market-leading, award-winning direct lender and experienced private credit manager. We specialize in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. Our sponsor finance expertise also forms the foundation of our Broadly Syndicated Loan and Credit Opportunities investment programs. We nurture long-term, win-win partnerships that inspire repeat business from private equity sponsors and investors.

As of January 1, 2026, Golub Capital had over 1,100 employees and over $90 billion of capital under management, a gross measure of invested capital including leverage. The firm has offices in North America, Europe, Asia and the Middle East. For more information, please visit golubcapital.com.

Beginning in 2024, awards won were determined by committee vote. Awards won in 2023 or prior are based on the number of votes cast on PDI’s website, where the peer group consisted of firms that applied or were nominated. All awards given on March 1st – March 3rd of the following year and based on the period of January 1st to September 30th of the referenced year. In 2017, 2016 and 2015 the BDC award category was called BDC of the Year, Americas. Golub Capital has provided de minimis compensation to PDI to promote award wins.
Selections were made based on which firms won the most PDI awards in each category since 2013. Awards were published in PDI’s ‘The Decade’ issue, released in June 2023. In order to use the awards and recognitions received from PDI in Golub Capital materials as well as to be identified as an award recipient on PDI’s website and materials used in association with certain of its awards, Golub Capital has provided de minimis compensation to PDI.

NEW YORK, February 23, 2026 – Golub Capital has been named “Best of the Best” in the Private Debt (Large Cap) category by Korea Economic Daily (KED) in the 2025 Best Asset Managers Awards, as the Firm marks the 10^th anniversary of its entry into Korea.

“We are pleased to receive this distinction, which reflects the consistency of our strategy and the strength of our long-term partnerships in Korea over the past decade,” said David Golub, President of Golub Capital. “Our disciplined, steady approach has been the cornerstone of our success in Korea and we are grateful for the trust our partners continue to place in us.”

KED’s annual awards identify top global asset managers based on feedback from Korean pensions, sovereign wealth funds, mutual aids, insurers and major banks, evaluating managers across Performance, Operational Excellence and Client Service.

“We are proud to recognize Golub Capital with the Best of the Best Award in the Private Debt (Large Cap) category for 2025,” said Byungyun Yoo, Publisher & Managing Editor of The Korea Economic Daily Global Edition. “This achievement reflects Golub Capital’s outstanding performance in a highly competitive selection process involving major institutional investors in Korea. Through these awards, we express our sincere gratitude to global asset managers for their vital role in optimizing risk-adjusted returns on Korean citizens’ overseas retirement savings.”

This marks Golub Capital’s fifth recognition by KED over the past six years, demonstrating sustained excellence across multiple award categories. The Firm was previously recognized in 2020, 2022, 2023 and 2024 in categories spanning Performance, Operational Excellence and “Best of the Best” distinctions.

About Golub Capital
Golub Capital is a market-leading, award-winning direct lender and experienced private credit manager. The firm specializes in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. Golub Capital’s sponsor finance expertise also forms the foundation of its Broadly Syndicated Loan and Credit Opportunities investment programs. Golub Capital nurtures long-term, win-win partnerships that inspire repeat business from private equity sponsors and investors.

The Firm brings credit-first, top performing platform to meet demand from European partners
Industry veteran Tyler Wallace appointed to lead strategy in London

LONDON, 10 February 2026 – Today, Golub Capital (“the Firm”) announced the expansion of its BSL CLO strategy to Europe and the appointment of Tyler Wallace as Managing Director, European Broadly Syndicated Loans. Wallace brings more than 20 years of leading credit experience to the Firm and most recently was a Managing Director and Portfolio Manager of CLOs at Fair Oaks Capital in London.

“This is a natural expansion for us,” said Scott Morrison, Head of BSL at Golub Capital. “The expansion builds on our market-leading U.S. CLO platform and strengthens our ability to deliver comprehensive financing solutions to partners across Europe.”

Said Tyler Wallace, “Golub Capital has an exceptional BSL track record. I am excited to lead this next chapter and bring the Firm’s capabilities to partners in the region.”

As of December 31, 2025, Golub Capital manages over $14 billion in broadly syndicated loans and has completed over 60 BSL CLO transactions since 2007.

Other key business highlights include:

Closed over $9 billion in financing commitments in Europe since 2020 and set a record with over $3.2 billion in new European commitments in 2025.
Executed a record $24.4 billion of securitizations in 2025.
#1 U.S. CLO manager and the #16 U.S. BSL CLO manager based on 2025 issuance.¹
BSL team delivered consistent top quartile performance across most key metrics in each of its last 7 vintages, as measured by Bank of America Research and is rated a Top 5 U.S. BSL CLO Manager, based on data gathered by CLO Research Group Limited.²^,³
The London-based Golub Capital team is now over 30-strong, with capabilities across direct lending, structured products and other debt solutions and in core verticals of software, financial services and business services.

Based on 2025 issuance. Source: CLO Global Databank Pitchbook LCD, as of December 31, 2025.
Consistent top quartile performance across most key metrics (BB MVOC, loans > $90, weighted-average price and market value % of target par) in each of the last 7 vintages. Source: Bank of America Research’s “BofA CLO Manager Performance Summary –September 2025 reports,” as of September 30, 2025. Past performance is not indicative of future results. Investments carry the risk of loss.
According to CLO Research Group Limited’s (“CLO Research”) “US BSL CLO Managers: Rankings Based on MVOC (BB) (as of July 18, 2025),” ranked by average percentile of market value over-collateralization (MVOC) at the BB tranche level, based on asset prices as of July 11, 2025.

NEW YORK, January 22, 2026 — Golub Capital acted as Administrative Agent and Sole Lender on a $270 million senior credit facility to support Princeton Equity Group’s refinancing of Strickland Brothers. Terms of the deal were not disclosed.

Strickland Brothers is a leading provider of quick, friendly and dependable oil changes and maintenance services with nearly 300 franchise and corporate-owned locations in the United States.

“This transaction reflects our commitment to partnering with sponsors and companies with ambitious growth plans,” said Spyro Alexopoulos, Co-Head of Direct Lending at Golub Capital. “We’re proud to provide certainty for Princeton Equity Group and support Strickland Brothers’ continued expansion.”

The senior credit facility is composed of a revolver, first lien term loan and first lien delayed draw term loan.

“This financing marks the start of a partnership that we expect to deepen,” said Phil Piro, Partner at Princeton Equity Group. “Golub Capital’s ability to provide a comprehensive senior credit facility and to scale with us over time makes them an ideal partner as we continue to execute on Strickland Brothers’ rapid growth plan.”

This is Golub Capital’s first deal with Princeton Equity Group.

About Golub Capital Sponsor Finance
Golub Capital is a market-leading, award-winning direct lender and experienced private credit manager. We specialize in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. The firm’s Direct Lending group provides buy-and-hold financing for sponsor-backed transactions with hold positions up to $1 billion and arranges syndicated credit facilities up to $2 billion.

Private equity-backed companies see 13th consecutive quarter of earnings growth.

The Golub Capital Altman Index can provide early insight into financial performance of public companies and GDP in advance of earnings season.

NEW YORK, January 13, 2026 – Middle market private companies in the Golub Capital Altman Index grew earnings by 3% year-over-year in the fourth quarter of 2025. Revenue grew 2% during the same period.

Lawrence E. Golub, CEO of Golub Capital, said, “Middle market companies demonstrated steady revenue and profit growth in the fourth quarter of 2025. Our data suggests that U.S. economic growth has a broader foundation than AI-related capital expenditures. We believe our data from the months of October and November offer encouraging insight about a period when economic data may be limited. Companies in our sample generally showed continued resiliency despite the challenges of a government shutdown, tariff costs and signs of cautious consumer behavior.”

Dr. Edward I. Altman said, “Our data suggests U.S. companies continued to perform steadily and navigate a challenging and uncertain environment. Robust revenue for healthy enterprise software companies in our Technology sector shows how companies that are not AI hyperscalers are growing at a steady clip. While investors should remain mindful that we are in a continued period of heightened credit stress and elevated default rates, our data shows that the core middle market continues to adapt well to this environment.”

The Golub Capital Altman Index (“GCAI”), which is produced by Golub Capital in collaboration with credit expert Dr. Edward I. Altman, is the first and longest-running index based on actual revenue and earnings (defined as earnings before interest, taxes, depreciation and amortization, or “EBITDA”) for middle market companies. It measures the median revenue and earnings growth of approximately 110–150 private U.S. companies in the loan portfolio of Golub Capital, a leading middle market lender. Reported shortly before public company quarterly earnings season, the GCAI has served as a reliable indicator of the overall growth rates in revenue and earnings of public companies in market indexes such as the S&P 500 and S&P SmallCap 600 (“S&P 600”), as well as quarterly Gross Domestic Product (“GDP”), according to statistical back-testing dating back to 2012, when data began to be tracked.

The size and diversity of the Golub Capital loan portfolio ensure that the confidentiality of all company-specific information used in the index is maintained in both the aggregate and industry segment data.

We believe the results (1) are representative of the general performance of middle market companies, which are a major contributor to U.S. private sector employment; (2) can be easily compared to the performance of the public companies that make up major stock indexes; (3) are relevant to the aggregate economic performance of the U.S. economy; and (4) provide timely information for the investment community.

Effective January 1, 2026, Golub Capital enhanced its data collection capabilities, providing for more comprehensive data from an expanded sample of GCAI constituents. We believe our enhanced data collection capabilities increase data quality and strengthen the analytical rigor of future reports. Backtesting has confirmed historical comparability. The companies in the GCAI operate in a wide range of industries. Results are provided for the total universe of GCAI constituents and by certain industry segments. Given the index’s limited exposure to Financials, Utilities, Energy and Materials, comparisons are made to the S&P 500 and S&P 600 as well as to “adjusted” versions of those indexes that exclude the aforementioned sectors, among others.

About the Golub Capital Middle Market Report
The Golub Capital Middle Market Report analyzes the results of the Golub Capital Altman Index (“GCAI”), which measures the median revenue and earnings growth of approximately 110–150 privately owned companies in the Golub Capital loan portfolio for the first two months of each calendar quarter. It compares these results to the financial performance of well-known market indexes, including the S&P 500 and S&P SmallCap 600. The GCAI is produced by Golub Capital in collaboration with credit expert Dr. Edward I. Altman. The data referenced herein may not reflect all companies in the loan portfolio of Golub Capital during the time periods indicated.

About Dr. Edward I. Altman
A leading expert on credit markets, Dr. Edward I. Altman is the Max L. Heine Professor of Finance, Emeritus at the NYU Stern School of Business, and Director of Research in Credit and Debt Markets at the NYU Salomon Center for the Study of Financial Institutions. He is currently an advisor to several foreign central banks. Professor Altman has published or edited two-dozen books and over 150 articles in scholarly finance, accounting and economic journals. He has been inducted into the Fixed Income Analysts Society Hall of Fame, served as President of the Financial Management Association, was an FMA Fellow, and was amongst the inaugural inductees into the Turnaround Management Association Hall of Fame. He received his MBA and Ph.D. in Finance from the University of California, Los Angeles.

Important Disclosure
The Golub Capital Altman Index is provided as an indicator only and does not constitute investment advice or the offer to sell or a solicitation to buy any security. Some of these statements constitute forward-looking statements, which may be predictions about future events, future performance, or future financial conditions. Some of these statements reflect opinions based upon the data presented in the Index, and these opinions may be incorrect. Actual results could vary materially from those implied or expressed in such forward-looking statements for any reason. The Golub Capital Altman Index has been created on the basis of information provided by third-party sources that are believed to be reliable, but the information has not been verified independently by Golub Capital. Golub Capital makes no warranty or representation as to the accuracy or completeness of such third-party information.

Another Year of “Good Boring” through Specialization
Closed $25+ Billion in Financing Commitments in 2025
Raised a Firm Record $20.5 Billion of New Investment Capital
Launched GP-Led Secondaries Strategy

NEW YORK, January 8, 2026 – Golub Capital delivered another year of “good boring,” consistent results for its stakeholders in 2025, aided by its commitment to specialization.

“We have long believed that specialization is a key source of competitive advantage for Golub Capital,” said David Golub, President of the Firm. “The past year validated this. Our deep relationships, scale and expertise enabled us to continue delivering strong results for investors, sponsors, portfolio companies and our team despite a muted M&A environment and high levels of credit stress across the private equity ecosystem. We are grateful for our clients’ trust and remain committed to building long-term, win-win partnerships that endure through market cycles.”

2025 Highlights, based on preliminary results:¹

Delivering strong credit performance, record fundraising and continued leadership in sponsor finance

Closed $25+ billion in financing commitments in 2025 to support existing portfolio companies and new platforms across a broad range of transaction sizes and facility types.
Raised a Firm record $20.5 billion in new investment capital in 2025, expanding and diversifying Golub Capital’s global investor base.²
Closed over $9 billion in financing commitments in Europe since 2020.
Was lead lender on approximately 90% of its direct lending transactions.³
Delivered strong credit performance, extending an over 20-year track record of annual payment default rates well below the broadly syndicated loan index.⁴

Expanding client service capabilities across investor segments and scaling to meet investor demand in key international markets

Launched a GP-Led Secondaries strategy, a new initiative focused on investing in continuation vehicles in partnership with leading private equity firms.
Celebrated five years of operations in London, a key hub for the Firm’s European sponsor finance activity and client service.
Expanded lending capabilities to include borrowers across technology, healthcare, financial services and business services in the U.K., Germany, France and the Nordics.
Executed a record $24.4 billion of securitizations and was again the #1 middle market CLO issuer by volume (13 years in a row).⁵
Now one of the top four U.S. CLO managers by assets under management.⁶

Accelerating impact of philanthropic programs

Expanded the Golub Capital Nonprofit Board Fellows Network to include 17 of the top 25 U.S. business schools. Now training thousands of MBA candidates and alumni each year to become impactful nonprofit board members.

Earning industry recognition⁷

Named “Lender of the Year – Americas” by Private Debt Investor.
Awarded “Best Performance – Private Debt (Mid Cap)” by The Korea Economic Daily.
Included among Newsweek’s America’s Greatest Midsize Workplaces for 2025.
Recognized by GrowthCap as one of the year’s Top Private Credit Firms and by ABF Journal on its Value Creators list of top private credit managers.

Preliminary results are good faith estimates based on available data as of January 6, 2026. Actual data may differ materially from final closing numbers.
New investment capital reflects equity capital raised by product, multiplied by a product-specific target leverage factor.
Based on Golub Capital’s retained debt commitment to middle market transactions executed by Golub Capital’s Sponsor Finance business from January 1, 2025 through December 31, 2025. Excludes transactions executed by Golub Capital’s Broadly Syndicated Loans business and equity-only transactions. Source: Golub Capital.
A loan is classified as a payment default if there is an uncured payment default with respect to principal or interest. The broadly syndicated loan index is represented by the default rate of the Morningstar LSTA US Leveraged Loan Index, measured by principal amount. The Morningstar LSTA US Leveraged Loan Index is a market value-weighted index designed to measure the performance of the U.S. broadly syndicated loan market based upon market weightings, spreads and interest payments.
CLO Global Databank Pitchbook LCD, as of December 31, 2025
Based on data provided by 9fin as of September 30, 2025
Awards listed on website may not include all previous award wins.
PDI Awards: Award won in 2024 was determined by committee vote. All awards given on March 1st – March 3rd of the following year and based on the period of January 1st to September 30th of the referenced year. Golub Capital has provided de minimis compensation to PDI to promote award wins.
Korea Economic Daily: Based on surveys by The Korea Economic Daily Global Edition to determine Korean LPs’ preferred global asset managers across five asset classes. The 2024 award was given on February 27, 2025 and based on the period of January 1, 2024 through November 30, 2024.
Newsweek: Based on independent point-indexing scoring method from employee review websites. The 2025 award was given on April 1, 2025. Golub Capital provided Newsweek with de minimis compensation to accept the award.
GrowthCap: Based on nomination submissions and further in-depth research by the GrowthCap editorial team. The 2025 award was given on November 11, 2025. Golub Capital provided GrowthCap with de minimis compensation to accept the award.

CHICAGO, December 3, 2025 — Golub Capital acted as Administrative Agent, Joint Lead Arranger and Joint Bookrunner on a $645 million unitranche facility to support the refinancing of Aptive Pest Control (“Aptive”), a portfolio company of Citation Capital. Terms of the deal were not disclosed.

Aptive is one of the fastest-growing pest control companies in North America, providing services to over half a million households in 34 states across the U.S.

This is Golub Capital’s first transaction with Citation Capital.

As of October 1, 2025, Golub Capital had over 1,000 employees and over $85 billion of capital under management, a gross measure of invested capital including leverage. The firm has offices in North America, Europe, Asia and the Middle East. For more information, please visit golubcapital.com.

NEW YORK, November 4, 2025 — Golub Capital acted as Administrative Agent, Left Lead Arranger and Joint Bookrunner on a unitranche facility to support Warburg Pincus’ acquisition of a majority stake in Keystone Agency Partners (“Keystone”). Terms of the deal were not disclosed.

Keystone is a leading insurance brokerage and agency network originally launched by Bain Capital in 2020. As part of the transaction, Bain Capital will retain a minority ownership interest in Keystone through a new investment from Bain Capital Insurance.

Golub Capital has been a lender to Keystone since 2021. The Firm has invested over $16 billion across more than 70 financial services portfolio companies.

As of July 1, 2025, Golub Capital had over 1,000 employees and over $80 billion of capital under management, a gross measure of invested capital including leverage. The firm has offices in North America, Europe, Asia and the Middle East. For more information, please visit golubcapital.com.

NEW YORK, October 30, 2025 – Golub Capital’s private credit education and insights platform has introduced purpose-built resources for financial advisors and investors to deepen their understanding and make informed allocation decisions. The platform, which is seeing strong engagement with advisors, focuses primarily on middle market direct lending, the largest segment of private credit.

“Direct lending’s rapid growth over the last decade has drawn increased interest from investors seeking private markets exposure,” said Thomas Burt, Managing Director, Head of Private Wealth Americas at Golub Capital. “As demand for alternative income strategies grows, so does the need for trusted education. Golub Capital’s specialized education platform builds on the Firm’s thirty years of experience and is designed to help investors navigate the evolving private credit landscape.”

The Golub Capital education platform provides resources spanning private credit fundamentals, portfolio implementation and timely insights on evolving market trends. The new Visual Guide to Private Credit delivers six interactive, quick-read modules that cover essential topics and the Resource Library features white papers and webinars on manager selection, portfolio construction and other key topics.

Private equity-backed companies see 12^th consecutive quarter of earnings growth.

The Golub Capital Altman Index can provide early insight into financial performance of public companies and GDP in advance of earnings season.

NEW YORK, October 14, 2025 – Middle market private companies in the Golub Capital Altman Index grew earnings by 3% year-over-year in the third quarter of 2025. Revenue grew 4% during the same period.

Lawrence E. Golub, CEO of Golub Capital, said, “Middle market companies showed solid revenue and profit growth in the third quarter, underscoring the resilience of the U.S. economy. Our third quarter data is consistent with patterns we saw throughout the first half of the year: steady U.S. economic growth, albeit at a slower pace than 2024, and broadly healthy consumer spending. We also saw across our portfolio companies last quarter that the bonus depreciation provisions of the July tax bill helped unclog capital expenditure decision-making. As these capital investments flow through the economy, we expect them to provide a tailwind for growth.”

Dr. Edward I. Altman said, “Our data suggests that U.S. companies continued to successfully navigate a challenging and uncertain environment in the third quarter. Profit margins generally were stable and, in the case of our Healthcare and Technology sector samples, modestly expanded. This suggests that companies in our sample continued to exercise pricing power and maintain cost discipline—boosting cash flow even before the effects of the Fed’s rate cut in September and the future cuts expected by the market.”

The companies in the GCAI operate in a wide range of industries. Results are provided for the total universe of GCAI constituents and by industry segment. Given the index’s limited exposure to Financials, Utilities, Energy and Materials, comparisons are made to the S&P 500 and S&P 600 as well as to “adjusted” versions of those indexes that exclude the aforementioned sectors, among others.