Ares Capital Corporation (ARCC) is a private equity firm. The firm specializes in acquisition, recapitalization, mezzanine debt, and leveraged buyout transactions of middle market companies. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors. The firm will also consider investments in industries such as restaurants, retail, oil and gas, and technology. It invests in companies based in North America. The firm typically invests between $10 million and $50 million in companies with an EBITDA between $5 million and $50 million. It invests in leveraged finance products such as first lien senior debt, second lien senior debt, subordinated debt, and non-control preferred and common equity. Ares Capital Corporation was founded in 2004 and is based in New York, New York with an additional office in Los Angeles, California. The firm operates as a subsidiary of ARES Capital Management LLC.