Business
Fidus Investment Corporation Provides Business and COVID-19 Update
EVANSTON, Ill., March 23, 2020 (GLOBE NEWSWIRE) -- Fidus Investment Corporation (NASDAQ: FDUS) (“Fidus” or the “Company”) today provides a business and
About this update from Fidus Investment Corporation
[{"type":"text","content":"EVANSTON, Ill., March 23, 2020 (GLOBE NEWSWIRE) -- Fidus Investment Corporation (NASDAQ: FDUS) (“Fidus” or the “Company”) today provides a business and COVID-19 update addressing actions taken in response to significant challenges arising from the COVID-19 pandemic.\n Portfolio Companies Since inception, Fidus has taken a partnership approach and a long-term perspective in providing customized, flexible debt and equity solutions for lower middle market companies. Consistent with this active management approach, over the past few weeks we have been in close contact with senior management and sponsors of our portfolio companies to review and evaluate current and potential negative impacts to their business operations arising from the COVID-19 pandemic. However, the ultimate impact of COVID-19 on any individual business remains unknown. Notwithstanding these uncertainties, based on the discussions noted above, to date we believe our portfolio companies are taking the necessary actions to manage the business disruptions and execute contingency plans to respond to adverse economic consequences. We will continue to diligently monitor evolving conditions and stay in close contact with the senior management teams and sponsors of our portfolio companies as they navigate uncharted waters with a view toward providing support as warranted. Above all, we will remain focused on capital preservation and the long-term prospects of our portfolio companies. Portfolio Composition FIDUS’ investment strategy focuses on high-quality lower middle-market companies with defensive characteristics, strong free cash flow and resilient, positive long-term outlooks. For the past several years we have put greater emphasis on investing in less-cyclical companies with business models that can weather a severe economic downturn. Nevertheless, the combination of compliance with state and federal government mandates, measures taken to protect employee health and safety and anticipated slow-down in economic activity is likely to impact some of our portfolio companies. Each of our 61 portfolio companies is a domestic business with customers located in the United States and minimal exposure to global supply chains. In terms of end markets served, we focus on industries where our investment team has prior experience. Our portfolio is well diversified, consisting of a ...