Private company

Prospect Floating Rate & Alternative Income Fund, Inc.

Investment fund that raised $10 million in 2024 (SEC Form D)1

In its 2026 annual report the company says: “We are an externally managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company, under the Investment Company Act of 1940, as amended. We are therefore required to comply with certain regulatory requirements. We have elected to be taxed for U.S. federal income tax purposes, and intend to qualify annually as a regulated investment company, under Subchapter M of the Internal Revenue Code of 1986, as amended.”4 It is headquartered in New York, New York.1

Last updated Oct 20, 2026.

Overview

-$872.8KNet income, fiscal 20262
  • HeadquartersNew York, New York1
  • Incorporated inMD3
  • Business address10 East 40Th Street, 42Nd Floor, New York, Ny 100163
  • Filer categoryNon-accelerated filer3
  • Legal formCorporation
  • Kind of organizationInvestment fund1

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We were formed as a Maryland corporation on April 29, 2011. We are an externally managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company ("BDC"), under the Investment Company Act of 1940, as amended (the "1940 Act"). We are therefore required to comply with certain regulatory requirements. We have elected to be taxed for U.S. federal income tax purposes, and intend to qualify annually as a regulated investment company ("RIC"), under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"). Prospect Capital Management L.P. (the "Adviser" or "Prospect Capital Management") is registered as an investment adviser with the Securities and Exchange Commission, or SEC, under the Investment Advisers Act of 1940 (the "Advisers Act"). Our Adviser manages our portfolio and makes all investment decisions fo…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

-2.4%Return on equity2

Financial statements

Net income5672-$872.8K in 2026
-$4.0M-$2.0M0$2.0M2021: $483.4K$483.4K20212022: -$3.3M-$3.3M20222023: -$1.7M-$1.7M2023−50%2024: $102.2K$102.2K20242025: -$3.8M-$3.8M20252026: -$872.8K-$872.8K2026−77%
Fiscal year202120222023202420252026
Net income$483.4K5-$3.3M6-$1.7M7$102.2K2-$3.8M2-$872.8K2
Earnings per share-$0.7410-$0.4510-$0.6310
Earnings per share (diluted)-$0.7410-$0.4510-$0.6310
Shares (weighted, basic)2.4M shares112.4M shares113.8M shares68.9M shares11
Shares (weighted, diluted)2.4M shares112.4M shares113.8M shares68.9M shares11

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Corporate structure

Prospect Floating Rate & Alternative Income Fund, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Prospect Floating Rate & Alternative Income Fund, Inc.

  • John & Daria Barry Foundation Filed SCHEDULE 13D/A on Prospect Floating Rate & Alternative Income Fund, Inc., latest Sep 10, 2026 (5 filings since Mar 11, 2025)
  • John F. Barry Filed SC 13D/A on Prospect Floating Rate & Alternative Income Fund, Inc., latest Jul 29, 2024
  • Prospect Floating Rate & Alternative Income Fund, Inc. New York, New York

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Prospect Floating Rate & Alternative Income Fund, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$23.9M2 Jun 30, 2026$16.5M2 Jun 30, 2025+44.9%

Properties, in its own words

We do not own any real estate or other physical properties materially important to our operation. Our principal executive offices are located at 10 East 40th Street, New York, New York 10016, where we occupy our office space pursuant to our Administration Agreement with Prospect Administration. The office facilities are leased by our Administrator. We believe that our office facilities are suitable and adequate for our business as currently conducted.

Item 2 of the 10-K filed Sep 28, 2026.4

Leadership

Who has led Prospect Floating Rate & Alternative Income Fund, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Craig J. Faggen2013
  2. M. Grier Eliasek2019

Chair

  1. Craig J. Faggen2013

President

  1. Craig J. Faggen2013
  2. M. Grier Eliasek2019

Chief financial officer

  1. Dask Kristin Lea Van2019
201520202025
Board members and other officers (3)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerKristin Michael Van Dask named Feb 2, 202419
  • DirectorAndrew Michael Cooper named Feb 2, 202419

Former names

  • Prospect Sustainable Income Fund, Inc.Jan 21, 2022 to Sep 14, 20223
  • Prospect Flexible Income Fund, Inc.Aug 6, 2020 to Jan 11, 20223
  • TP Flexible Income Fund, Inc.Apr 1, 2019 to Jul 22, 20203
  • Triton Pacific Investment Corporation, Inc.Jun 13, 2011 to Mar 29, 20193

Timeline

  1. Sep 29, 20268-K Regulation FD disclosure20
  2. Aug 24, 20268-K Other events21
  3. Jul 27, 20268-K Regulation FD disclosure; Other events22
  4. Jun 24, 20268-K Regulation FD disclosure23
  5. May 28, 20268-K Other events24
  6. Mar 19, 20268-K Regulation FD disclosure25
  7. Mar 6, 20268-K Bylaws or fiscal year changed; Shareholder vote; Other events26
  8. Feb 26, 20268-K Regulation FD disclosure27
  9. Jan 27, 20268-K Entered a material agreement; Ended a material agreement28
  10. Jan 23, 20268-K Other events29
  11. Dec 16, 20258-K Shareholder vote30
  12. Nov 24, 20258-K Other events31
  13. Apr 11, 2019New chief executive M. Grier Eliasek becomes CEO13
  14. Apr 9, 2013New chief executive Craig J. Faggen becomes CEO14

Filings

172 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 52 major events, 5 insider forms, 9 large holders, 1 private raises, 85 other. The latest 20:

  1. Sep 29, 2026424B3 EDGAR
  2. Sep 29, 20268-K EDGAR
  3. Sep 28, 2026DEFA14A EDGAR
  4. Sep 28, 2026DEF 14A EDGAR
  5. Sep 28, 202610-K EDGAR
  6. Sep 18, 2026SC TO-I EDGAR
  7. Sep 10, 2026SCHEDULE 13D/A EDGAR
  8. Aug 24, 20268-K EDGAR
  9. Aug 19, 2026SC TO-I/A EDGAR
  10. Aug 4, 202640-17G EDGAR
  11. Jul 27, 20268-K EDGAR
  12. Jul 7, 2026POS EX EDGAR
  13. Jun 26, 2026SC TO-I EDGAR
  14. Jun 24, 20268-K EDGAR
  15. May 28, 20268-K EDGAR
  16. May 11, 2026424B3 EDGAR
  17. May 11, 2026SC TO-I/A EDGAR
  18. May 11, 202610-Q EDGAR
  19. May 1, 2026SCHEDULE 13D/A EDGAR
  20. Mar 27, 2026424B3 EDGAR

The 172 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

2 open-market trades by officers, directors and large owners since October 2021: 2 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jul 26, 2024John & Daria Barry Foundation10% ownerBuy2,096,436$4.77$10.0MForm 4
Apr 24, 2024Barry John F10% ownerBuy2,105,263$4.75$10.0MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Jan 30, 2024Raised $10 million in a private offering of equity Form D: $100 million offered in all Form D

SEC filer profile

How Prospect Floating Rate & Alternative Income Fund, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARProspect Floating Rate & Alternative Income Fund, Inc.1
  • CIK0001521945
  • Employer ID (EIN)45-24607824
  • Filer statusNon-accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
  • Incorporated inMaryland4
  • Fiscal year endsJune 301
  • Business address10 East 40Th Street, 42Nd Floor, New York, NY 100161
  • Phone212-448-07021
  • Shares outstanding9,797,882 Common Class A shares; 13,083 Common Class I shares as of Sep 28, 20264
  • Public float$0 as of Jun 30, 20262
  • AuditorDELOITTE & TOUCHE LLP, New York, New York PCAOB ID 34; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceJun 13, 20111
  • Filings563 in all: 8-K (151), CORRESP (45), 10-Q (41), SC TO-I/A (37), 497 (36), SC TO-I (36), POS 8C (25), 40-APP/A (18)1
    All 45 form types

    DEF 14A (16), EFFECT (16), 10-K (15), 424B3 (15), N-2/A (14), 40-17G (13), DEFA14A (11), 3 (8), 40-APP (8), SCHEDULE 13D/A (5), 4 (4), 425 (4), N-2 (4), 10-K/A (3), 486BPOS (3), 8-K/A (3), APP WD (3), POS EX (3), PRE 14A (3), SC 13D/A (3), APP NTC (2), APP WD/A (2), NT 10-Q (2), 486APOS (1), 8-A12G (1), APP ORDR (1), D (1), DEF 14C (1), DEFR14A (1), N-14 8C (1), N-14 8C/A (1), N-54A (1), N-6F (1), N-8A (1), PRE 14C (1), SC 13D (1), UPLOAD (1)

  • Latest filingsAnnual report (10-K) Sep 28, 2026
    Quarterly report (10-Q) May 11, 2026
    Proxy statement (DEF 14A) Sep 28, 2026
    Latest 8-K (8-K) Sep 29, 2026

Risk factors and legal proceedings

The risks Prospect Floating Rate & Alternative Income Fund, Inc. names in Item 1A of its 10-K filed Sep 28, 2026: 74 risks under these headings, as written.4

  • Risks Relating to Our Business and Structure
  • Except for the investments described in this Annual Report, we have not identified specific investments that we will make with the proceeds of the Multi-Class Offering or any future offering, and you will not have the opportunity to evaluate our future investments prior to purchasing shares of our common stock in the Multi-Class Offering or any future offering.
  • We have not established any limit on the amount of funds we may use from available sources, such as borrowings, if any, or proceeds from the Multi-Class Offering or any future offering, to fund distributions (which may reduce the amount of capital we ultimately invest in assets).
  • A failure on our part to maintain our qualification as a business development company would significantly reduce our operating flexibility.
  • Regulations governing our operation as a business development company and RIC will affect our ability to raise, and the way in which we raise, additional capital or borrow for investment purposes, which may have a negative effect on our growth.
  • A significant portion of our investment portfolio will be recorded at fair value as determined in good faith by our Board of Directors for quarter-end periods and by our Valuation Designee (discussed below) for intra-quarter periods and, as a result, there could be uncertainty as to the actual market value of our portfolio investments.
  • Because our business model depends to a significant extent upon the business relationships of our Adviser, the inability of our Adviser to maintain or develop these relationships, or the failure of these relationships to generate investment opportunities, could adversely affect our business.
  • The amount and timing of distributions are uncertain and distributions may be funded from the proceeds of the Multi-Class Offering or future offerings and may represent a return of capital.
  • We will be subject to U.S. federal income tax if we are unable to qualify as a RIC under Subchapter M of the Code or do not satisfy the annual distribution requirement.
  • Our Board of Directors may change our operating policies and strategies without prior notice or stockholder approval, the effects of which may be adverse.
  • Our Board of Directors will have discretion over the use of the proceeds of the Multi-Class Offering or any future offering.
  • If we borrow money, the potential for gain or loss on amounts invested in us will be magnified and may increase the risk of investing in us.
The other 63 risks
  • Because we intend to distribute substantially all of our income to our stockholders in connection with our election to be treated as a RIC, we will continue to need additional capital to finance our growth. If additional funds are unavailable or not available on favorable terms, our ability to grow will be impaired.
  • In selecting and structuring investments appropriate for us, our Adviser will consider the investment and tax objectives of the Company and our stockholders as a whole, not the investment, tax or other objectives of any stockholder individually.
  • We may pursue strategic acquisitions.
  • If we are unable to consummate or successfully integrate development opportunities, acquisitions or joint ventures, we may not be able to implement our growth strategy successfully.
  • We entered into a non-exclusive, royalty-free license to use the “Prospect” name, which may be terminated if our Adviser or another affiliate of the Adviser is no longer our investment adviser.
  • Risks Relating to Our Adviser and Its Affiliates
  • We will rely on our Adviser and its investment personnel for the selection of our assets and the monitoring of our investments.
  • There are significant potential conflicts of interest which could adversely impact our investment returns.
  • The involvement of our Adviser’s investment professionals in our valuation process may create conflicts of interest.
  • Our fee structure may induce our Adviser to cause us to borrow and make speculative investments.
  • Risks Relating to Our Investments
  • Our investments in prospective portfolio companies may be risky, and we could lose all or part of our investment.
  • Investing in small and mid-sized companies involves a number of significant risks.
  • An investment strategy focused primarily on privately-held companies presents certain challenges, including the lack of available information about these companies.
  • Defaults by our portfolio companies will harm our operating results.
  • Our portfolio companies may incur debt that ranks equally with, or senior to, our debt investments in such companies.
  • If we make unsecured investments, those investments might not generate sufficient cash flow to service their debt obligations to us.
  • If we invest in the securities and obligations of distressed and bankrupt issuers, we might not receive interest or other payments.
  • There may be circumstances where our debt investments could be subordinated to claims of other creditors or we could be subject to lender liability claims.
  • We generally will not control the portfolio companies in which we make debt investments.
  • To the extent original issue discount (“OID”) and payment in kind (“PIK”) interest constitute a portion of our income, we
  • will be exposed to typical risks associated with such income being required to be included in taxable and accounting income
  • prior to receipt of cash representing such income.
  • The lack of liquidity in our investments may adversely affect our business.
  • We may not have the funds or ability to make additional investments in the companies in which we invest.
  • The companies in which we invest may incur debt that ranks equally with, or senior to, our investments in such companies.
  • The disposition of our investments may result in contingent liabilities.
  • Second priority liens on collateral securing loans that we make to a company may be subject to control by senior creditors with first priority liens. If there is a default, the value of the collateral may not be sufficient to repay in full both the first priority creditors and us.
  • We may incur lender liability as a result of our lending activities.
  • We may not realize gains from our private equity investments.
  • We may focus our investments in companies in a particular industry or industries.
  • Our portfolio companies may be highly leveraged.
  • Changing interest rates may adversely affect the value of our portfolio investments which could have an adverse effect on our business, financial condition and results of operations.
  • Risks Relating to Our Investments in CLOs
  • Our investments in CLOs may be riskier and less transparent to us and our stockholders than direct investments in the underlying companies.
  • Our financial results may be affected adversely if one or more of our significant equity or junior debt investments in a CLO vehicle defaults on our payment obligations or fails to perform as we expect.
  • CLOs typically will have no significant assets other than their underlying senior secured loans; payments on CLO investments are and will be payable solely from the cash flows from such senior secured loans.
  • Our CLO investments will be exposed to leveraged credit risk.
  • There is the potential for interruption and deferral of cash flow from CLO investments.
  • Investments in foreign securities may involve significant risks in addition to the risks inherent in U.S. investments.
  • The payment of underlying portfolio manager fees and other charges on CLO investments could adversely impact our return on our CLO investments.
  • The inability of a CLO collateral manager to reinvest the proceeds of the prepayment of senior secured loans may adversely affect us.
  • Our CLO investments are subject to prepayments and calls, increasing re-investment risk.
  • We will have limited control of the administration and amendment of senior secured loans owned by the CLOs in which we invest.
  • We will have limited control of the administration and amendment of any CLO in which we invest.
  • Non-investment grade debt involves a greater risk of default and higher price volatility than investment grade debt.
  • Certain collateral quality test failures in our CLO investments may result in diversion of CLO payments and harm our operating results.
  • We will have no influence on management of underlying investments managed by non-affiliated third party CLO collateral managers.
  • The application of the risk retention rules under Section 941 of the Dodd-Frank Act to CLOs may have broader effects on the CLO and loan markets in general, potentially resulting in fewer or less desirable investment opportunities for us.
  • Risks Relating to Economic Conditions
  • Adverse economic conditions or increased competition for investment opportunities could delay deployment of our capital, reduce returns and result in losses.
  • Economic recessions or downturns could impair a company in which we invest and harm our operating results.
  • Changes in interest rates may adversely affect our cost of capital, net investment income and ability to borrow money.
  • Future changes in laws or regulations governing our operations may adversely affect our business or cause us to alter our business strategy.
  • Terrorist attacks, acts of war or natural disasters may affect any market for our common stock, impact the businesses in which we invest and harm our business, operating results and financial condition.
  • Risks Relating to Our Offering and Our Common Stock
  • Delays in the application of offering proceeds to our investment program may adversely affect our results.
  • If we conduct an offering and are unable to raise substantial funds, we will be limited in the number and type of investments we may make, and the value of your investment in us may be reduced in the event our assets under-perform.
  • The shares sold in any offering will not be listed on an exchange or quoted through a quotation system for the foreseeable future, if ever. Therefore, if you purchase shares in our offering, you will have limited liquidity.
  • Compliance with the SEC’s Regulation Best Interest may negatively impact our ability to raise capital in our offering, which would harm our ability to achieve our investment objectives.
  • Although we have offered to repurchase your shares on a quarterly basis through our share repurchase program, the terms of any such repurchases will be limited. As a result, you will have limited opportunities to sell your shares.
  • The timing of our share repurchase offers pursuant to our share repurchase program may be at a time that is disadvantageous to our stockholders.
  • We may be unable to invest a significant portion of the net proceeds of any offering on acceptable terms in the timeframe contemplated by this Annual Report.
  • Your interest in us will be diluted if we issue additional shares, which could reduce the overall value of your investment.
  • Our Distribution Reinvestment Plan will dilute the interest of those who do not opt-in.
  • We may issue preferred stock as a means to access additional capital, which could adversely affect common stockholders and subject us to specific regulation under the 1940 Act.
  • Certain provisions of our charter and bylaws as well as provisions of the Maryland General Corporation Law could deter takeover attempts and have an adverse impact on the value of our common stock.
  • Special considerations for certain benefit plan investors.

Legal proceedings

From time to time, we may become involved in various investigations, claims and legal proceedings that arise in the ordinary course of our business. These matters may relate to intellectual property, employment, tax, regulation, contract or other matters. The resolution of such matters as may arise will be subject to various uncertainties and, even if such claims are without merit, could result in the expenditure of significant financial and managerial resources. We are not aware of any material legal proceedings as of June 30, 2026.

The opening of Item 3, Legal Proceedings.4

Sources

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