David Weisburd

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So your funds have been very active on the SBIC side and accessing the SBIC capital.

Tell me about that and what has drawn you to this capital pool as a franchise?

Sometimes you have the SBIC funds, the net is actually either the same or higher than the gross.

So you might have a 20% gross, 21% net.

It's pretty wild.

Why do you think more people are not focused on SBIC funding and are not taking advantage of

And what about on the LP side?

It seems pretty attractive to be part of this, participating essentially as part of this leverage.

Why is that not more popular?

You have a unique vantage point in that you have special sits, you have private equity, you have private credit, you have these SBIC funds and these pools of capital.

What part of the market is most interesting to you today, Q4 2025?

And your ability to take advantage of these special situations is based on this competency that you've developed in lower middle market around some mix of private credit and private equity.

It's almost like a hybrid.

You obviously play in a very different part of the market as you did in Ares, but presumably you take a lot of learnings from there.

What are some of the key insights that you took from Ares to how you run Corbel?

And you mentioned you're building out all these infrastructure and all these relationships with the different players in the special situation space, in the private credit space.

A lot of these end up going through distress, going through bankruptcy.