CION's stated objective is straightforward: generate current income and modest capital appreciation, primarily through senior secured debt investments. The emphasis is on first-lien, second-lien and unitranche loans to U.S. middle-market companies. Key Takeaways CION Investment Corp. (CION) is built to deliver current income with modest capital appreciation, and the portfolio's structure tells you how management is trying to get there. The company leans hard into senior secured lending, which can support st ...