Allied Capital

Allied Capital was a prominent Business Development Company (BDC) that operated as a major investor and platform owner in the healthcare and pharmaceutical sectors. The company utilized a "platform" strategy to acquire and manage specialty pharmaceutical businesses, most notably through its controlling interests in Spear Pharmaceuticals and Insight Pharmaceuticals. Through these subsidiaries, Allied Capital focused on the commercialization of dermatological products, such as generic tretinoin, and over-the-counter (OTC) medications like Anacin and Sucrets. Headquartered in Washington, D.C., the firm was a pioneer in the BDC industry before being acquired by Ares Capital Corporation in 2010 following the global financial crisis.