Golub Capital Continues Strong Track Record of Consistent Results in 2025

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 recognition

• 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.

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 www.golubcapital.com.

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1 Preliminary results are good faith estimates based on available data as of January 6, 2026. Actual data may differ materially from final closing numbers.

2 New investment capital reflects equity capital raised by product, multiplied by a product-specific target leverage factor.

3 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.

4 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.

5 CLO Global Databank Pitchbook LCD, as of December 31, 2025

6 Based on data provided by 9fin as of September 30, 2025

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