BDCs feel squeeze on liquidity as SEC rejects plea for relief22 days ago
Sources say that the chances of relief being granted to business development companies over the acquired fund fees and expenses (AFFE) rule are slim. Last month, industry body Coalition for Business Development stated optimistically that the “harm caused by the AFFE disclosure can be remedied in the final fund of funds rules”.
Goldman Sachs AM merges public and private BDC2 months ago
Goldman Sachs Asset Management has merged two of its business development companies: Goldman Sachs BDC, a $1.54 billion publicly traded BDC, and private BDC Goldman Sachs Middle Market Lending Corporation, which has $1.7 billion assets
BlackRock joins BDCs with increased leverage approval3 months ago
BlackRock Capital has become the latest business development company to adopt the higher leverage after the Small Business Credit Availability Act was amended last year
Garrison BDC needs to liquidate, argues shareholder Clear Harbor3 months ago
In a letter delivered to the board on Thursday, Clear Harbor emphasised several concerns and demanded a new independent investment advisor with liquidation expertise
Medley BDC finds no "superior proposal" to merger plans after go-shop process4 months ago
Medley Capital Corporation (MCC) has not found a “superior proposal” for its plans to merge with another Medley-managed business development company and instead recommends that shareholders vote for its amended agreement.
Morgan Stanley registers new BDC with US regulators5 months ago
Morgan Stanley Investment Management filed a statement with US regulators yesterday to register a business development company
PennantPark makes CLO market debut amid fundraising spree6 months ago
PennantPark Investment Advisers, a New York-headquartered direct lending firm, yesterday priced its first ever CLO, becoming the US market’s eighth debut manager of 2019
Crescent BDC buys Alcentra BDC in $141.9 million transaction6 months ago
As part of the deal, the combined business development company will go public and charge lower management fees
Solar BDC shines a light on its bid to focus on first lien loans6 months ago
Solar Capital is taking a prudent approach to loan investments with the firm reducing its exposure to second liens, according to the business development company's earnings call
BDC consolidation continues with Oak Hill and BC Partners-affiliate merger6 months ago
The consolidation of US business development companies continues... this time, with the merger of OHA Investment Corporation and Portman Ridge Finance Corporation
BDCs ramp up CLO issuance, but stifle investment appetite7 months ago
As business development companies (BDCs) turn to CLOs as a financing tool, they are reducing their investments in CLO liabilities.
OFS BDC forms senior loan subsidiary with $150 million credit facility8 months ago
OFS Capital Corporation has established a subsidiary to focus solely on senior loans
FS and KKR create $9 billion publicly-listed BDC with four-way merger8 months ago
The move would create the second largest BDC by assets under management
Barings shows way forward with BDC-sponsored CLO8 months ago
The unusual move by Barings BDC to issue a US CLO suggests a new way for BDCs to lock in cheap financing and withstand volatility.
Barings BDC forms $550 million JV with South Carolina pension9 months ago
The new joint venture will invest in both liquid and illiquid credit
KKR and FS Investments' BDC platform markets new issue CLO9 months ago
KKR and FS Investments’ business development company, FS KKR Capital Corp, is marketing a new issue CLO via Citi named FS KKR MM CLO 1
Medley signs agreement with activist shareholder over three-way merger10 months ago
The Medley saga continues...two board of directors have been appointed and several ammendments have been made to the merger agreement
Alcentra BDC explores 'strategic alternative' plans to add value10 months ago
Alcentra has appointed financial advisor Houlihan Lokey to evaluate 'strategic alternatives' for its business development company
LibreMax strikes CLO equity deal after acquiring Trimaran10 months ago
LibreMax is a name associated with managing hedge funds, but the firm is expanding into long-term strategies, geared towards lock-up funds.
Medley BDC loses compliance with NYSE as two directors depart11 months ago
The Medley marathon continues after two "independent" directors offered their resignations. The pair were named in a lawsuit last month with activist shareholders FrontFour
Alcentra BDC assigns new CEO11 months ago
Business development company Alcentra Capital Corporation has named a new chief executive officer, saying "this is the right time for these transitions"
Marathon proposes alternative to long-running Medley BDC merger dispute11 months ago
Marathon has joined the race to take on two business development companies managed by Medley
"It makes no sense in a one-to-one world": Goldman BDC dissolves JV with pension fund11 months ago
Goldman Sachs BDC (GSBD) has dissolved its joint venture partnership with Regents of the University of California as the Senior Credit Fund “no longer makes sense in a one-to-one world”, according to the business development company's Q4 2018 earnings call.
Capitala BDC forms $150 million mid-market JV with Kempner1 year ago
Capitala Finance Corporation and Kemper subsidiary Trinity Universal Insurance Company have teamed up to launch another direct lending joint venture, following a loan-focused JV in 2015
Benefit Street affiliate BDC buys stake in ABL lender Siena1 year ago
Business Development Corporation of America (BDCA), a non-traded business development company managed by Benefit Street Partners, has bought a controlling stake in Siena Capital Finance
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