Capital Southwest Corporation announced that its wholly owned subsidiary, Capital Southwest SPV LLC (the “SPV”), entered into a senior secured revolving credit facility (the “SPV Facility”) with Deutsche Bank AG, New York Branch. The SPV Facility...
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March 21, 2024, 08:04 AM
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BlackRock TCP Capital Corp. and BlackRock Capital Investment Corporation announced that the shareholders of each business development company (“BDC”) have voted to approve the necessary proposals related to the merger of TCPC and BCIC at each company...
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March 08, 2024, 07:50 AM
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FTI Consulting announced the findings of its 2024 Leveraged Loan Market Survey, which offers insight into bank and non-bank lenders’ perspectives on the U.S. loan industry and highlights expectations for leveraged credit market conditions in the year...
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January 23, 2024, 07:57 AM
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Golub Capital BDC entered into a definitive merger agreement with Golub Capital BDC 3, Inc. (“GBDC 3”), with GBDC as the surviving company, subject to certain stockholder approvals and customary closing conditions. Following the merger, GBDC is...
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January 18, 2024, 07:27 AM
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Trinity Capital, a leading provider of diversified financial solutions to growth-stage companies, expanded its Phoenix headquarters, reaffirming Trinity's longstanding commitment to the region as it continues to scale its business.Trinity has doubled...
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December 21, 2023, 07:00 AM
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Capital Southwest Corporation, an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced an increase to the total commitments...
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December 12, 2023, 07:29 AM
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Apollo Debt Solutions BDC (“ADS” or the “Fund”) has appointed Eric Rosenberg and Adam Eling as Chief Financial Officer and Chief Operating Officer, respectively, of ADS, effective October 2, 2023. ADS is a non-exchange traded business development...
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October 06, 2023, 08:30 AM
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Jefferies Credit Partners, a leading private credit manager and the asset management arm of Jefferies Finance, announced the intention to launch a private placement of a business development company (“BDC”) to further enhance its lending capacity in...
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July 20, 2023, 08:05 AM
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Golub Capital announced that the Golub Capital Private Credit Fund (GCRED), a non-traded business development company, broke escrow with approximately $650 million in net proceeds on June 30, 2023. Golub Capital, founded in 1994, is a leading lender...
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July 07, 2023, 07:34 AM
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Ares Management Corporation announced the launch of Ares Strategic Income Fund (“ASIF”), a perpetual capital, continuously offered, non-traded business development company, which seeks to primarily invest in directly originated, senior secured...
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April 25, 2023, 08:00 AM
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Crescent Capital BDC announced the closing of the previously announced merger with First Eagle Alternative Capital BDC. The combined company, which will remain externally managed by Crescent Cap Advisors, LLC, a subsidiary of Crescent Capital Group...
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March 13, 2023, 07:33 AM
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Bain Capital Credit, a leading global credit specialist, announced the launch of Bain Capital Private Credit (“BCPC” or the “Fund”), a perpetual life, non-traded business development company. The Fund will offer access to income-producing investments...
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February 17, 2023, 07:56 AM
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Nuveen, the $1.1 trillion investment manager of TIAA, and Churchill Asset Management, an investment-specialist affiliate of Nuveen, announced that Nuveen Churchill Private Capital Income Fund (PCAP) will offer qualified individual investors1 access...
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February 09, 2023, 07:49 AM
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Golub Capital BDC originated $247.0 million in new middle-market investment commitments during the three months ended December 31, 2022. Approximately 93% of the new middle-market investment commitments were one stop loans, 3% were senior secured...
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January 11, 2023, 07:49 AM
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Angelo, Gordon & Co. announced that AG Twin Brook Capital Income Fund (“TCAP” or the “Fund”) has launched with more than $800 million in total assets. TCAP is a non-traded business development company (“BDC”) that has approximately $530 million in...
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January 06, 2023, 08:00 AM
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Trinity Capital entered into an agreement to co-manage a newly formed joint venture, i40, LLC (the "JV"), with certain funds and accounts managed by a specialist credit manager with over $5 billion of assets under management. The JV will invest in...
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December 08, 2022, 07:36 AM
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SLR Investment Corp. has entered into a joint venture agreement with SunStone Senior Credit L.P. (the “Investor”) to create SLR Senior Lending Program LLC (“SSLP”). The joint venture is expected to invest primarily in senior secured cash flow...
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October 13, 2022, 07:55 AM
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Golub Capital BDC originated $176.7 million in new middle-market investment commitments during the three months ended September 30, 2022. Approximately 91% of the new middle-market investment commitments were one stop loans, 7% were senior secured...
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October 12, 2022, 07:49 AM
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Golub Capital BDC originated $449.6 million in new middle-market investment commitments during the three months ended June 30, 2022. Approximately 93% of the new middle-market investment commitments were one stop loans, 2% were senior secured loans...
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July 13, 2022, 08:00 AM
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Rand Capital Corporation, a business development company providing alternative financing for lower middle market companies, announced the closing of a $25 million senior secured revolving credit facility. The funds are expected to be used for future...
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June 28, 2022, 07:42 AM
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Stellus Capital Management, a leader in middle market direct lending, announced the final close of Stellus Credit Fund III (“SCF III” or “the Fund”). The Firm materially exceeded its target fundraising goal with approximately $1.8 billion of...
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May 20, 2022, 07:50 AM
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Golub Capital BDC originated $306.3 million in new middle-market investment commitments during the three months ended March 31, 2022. Approximately 94% of the new middle-market investment commitments were one stop loans, 2% were senior secured loans...
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April 12, 2022, 07:53 AM
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TCG BDC announced that it will change its name to Carlyle Secured Lending effective April 11th, 2022.“We are pleased to announce the renaming of TCG BDC as Carlyle Secured Lending. Our new name best reflects Carlyle’s twenty-year investment heritage...
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April 12, 2022, 07:01 AM
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Trinity Capital, a specialty lending company that provides debt, including loans and equipment financing, to growth stage companies backed by technology banks, venture capital and private equity firms, announced the promotions of two senior...
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March 21, 2022, 08:00 AM
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Bain Capital Specialty Finance announced the formation of Bain Capital Senior Loan Program, LLC ("SLP"). The SLP will provide BCSF with greater balance sheet flexibility to capitalize on senior middle market loan opportunities to borrowers in North...
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February 15, 2022, 07:09 AM
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Great Elm Capital (GECC), a business development company, acquired a majority equity interest in Sterling Commercial Credit, LLC (“Sterling”) a leading asset-based lender.Established in 2004, Sterling provides asset-based loans to middle market...
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February 04, 2022, 08:00 AM
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Apollo Debt Solutions BDC has launched with more than $1 billion in assets under management. On Friday, January 7, the Fund broke escrow with approximately $657 million in equity net proceeds for its continuous public offering (the “Offering”). In...
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January 12, 2022, 08:00 AM
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Franklin BSP Lending Corporation (“FBLC”) and Franklin BSP Capital Corporation (“FBCC”), business development companies advised by affiliates of Benefit Street Partners L.L.C. (“BSP”), announced the acquisition of substantially all of the equity...
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January 05, 2022, 08:03 AM
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Goldman Sachs BDC announced that Alex Chi and David Miller, co-heads of Goldman Sachs Asset Management Private Credit in the Americas, will become co-CEOs and co-Presidents of Goldman Sachs BDC, Inc., effective March 2022. After a 15-year career at...
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December 21, 2021, 08:06 AM
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Saratoga Investment Corp., a business development company, announced that its wholly-owned subsidiary, Saratoga Investment Funding II LLC (“SIF II”), an entity formed for purposes of entering into this financing arrangement, closed a new $50.0...
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October 07, 2021, 08:02 AM
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Great Elm Capital Corp. (GECC), a business development company, has acquired a majority equity interest in Lenders Funding, LLC (Lenders) a private funding and risk sharing source for factors and asset-based lenders.Established in 2000, Lenders...
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September 21, 2021, 08:04 AM
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Monroe Capital Corporation announced its second quarter 2021 Business Development Company results.
Second Quarter 2021 Financial Highlights:
Paid quarterly dividend of $0.25 per share
Current annual cash dividend yield to shareholders of...
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August 05, 2021, 07:35 AM
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Prospect Capital Corporation funded a $55 million first lien senior secured floating rate term loan to support the acquisition of Enseo Holdings, Inc. by an affiliate of H.I.G. Capital, LLC.Enseo is the premier provider of customer experience...
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June 22, 2021, 07:27 AM
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Golub Capital BDC originated $234.7 million in new middle-market investment commitments during the three months ended March 31, 2021. Approximately 75% of the new middle-market investment commitments were one stop loans, 24% were senior secured loans...
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April 09, 2021, 07:55 AM
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Owl Rock Capital has received approval from the shareholders of each of its four requisite business development companies ("BDCs") for new investment advisory agreements related to the recently announced combination of Owl Rock and Dyal Capital...
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March 18, 2021, 06:00 AM
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Golub Capital BDC closed a new senior secured syndicated revolving credit facility. The Facility is led by JPMorgan Chase Bank and includes a total of six bank participants. The Facility closed on February 11, 2021. Under the Facility, the lenders...
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February 16, 2021, 08:05 AM
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Fitch Ratings’ sector outlook for business development companies (BDCs) is worsening for 2021, driven by the expectation for weaker asset quality metrics and the potential for valuation volatility as a result of the challenging economic backdrop...
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October 21, 2020, 09:05 AM
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FS/KKR Advisor, LLC (FS/KKR), a partnership between FS Investments and KKR Credit Advisors (US) LLC, announced that the merger of FS Investment Corporation ( and Corporate Capital Trust, Inc. has closed, creating the second-largest publicly traded...
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December 20, 2018, 07:30 AM
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Business Development Companies (BDCs) that rely on Collateralized Loan Obligations (CLOs) as a part of their funding strategies can breathe a little easier after the Securities and Exchange Commission suggested it would not take enforcement action...
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September 13, 2018, 07:56 AM
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Golub Capital BDC, Inc., a business development company, announced the closing of a new $300 million credit facility with Morgan Stanley Bank, N.A., as lender. The Credit Facility has a revolving availability period that extends through January 21...
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July 24, 2018, 07:14 AM
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AloStar Capital Finance successfully agented and closed a $50 million committed credit facility for KCAP, a publicly traded Business Development Company (BDC).“Thanks to AloStar, we will be able to expand our portfolio and grow investment...
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June 07, 2018, 07:08 AM
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Additional Business Development Companies (BDCs) are likely to seek board and/or shareholder approval to increase leverage to 2.0x from 1.0x following recent changes from the Small Business Credit Availability Act, which was signed into law on March...
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April 16, 2018, 07:08 AM
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Golub Capital BDC, Inc., a business development company, announced that it originated $136.0 million in new middle-market investment commitments during the three months ended March 31, 2018. Approximately 79% of the new middle-market investment...
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April 11, 2018, 07:19 AM
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FS Investments and KKR announced the closing of their previously announced transaction to create the market's largest business development company (BDC) platform, with $18 billion in combined assets under management.
A new partnership, FS/KKR...
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April 09, 2018, 08:00 AM
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Ares Capital Corporation announced that it plans to recommend a path for approval of a certain provision contained in the recently passed Small Business Credit Availability Act (SBCAA) that was signed into law on March 23, 2018. The SBCAA includes a...
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April 03, 2018, 08:00 AM
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A last-minute inclusion to a massive spending package passed by Congress last week and signed by President Donald Trump on Friday will allow investment companies controlled by private-equity firms to borrow more money and increase their lending. But...
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March 27, 2018, 07:41 AM
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The U.S. House Financial Services Committee approved by a wide margin, a bipartisan measure to loosen restrictions on Business Development Companies that lend to small businesses and the middle market. Introduced by Representatives Steve Stivers...
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November 20, 2017, 08:00 AM
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Oaktree Capital Management, L.P, which is part of Oaktree Capital Group, has signed a definitive asset purchase agreement under which Oaktree will become the new investment adviser to two business development companies (BDCs): Fifth Street Finance...
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July 17, 2017, 07:40 AM
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Owl Rock Capital Corporation and Regents of the University of California entered into the Amended and Restated Limited Liability Company Agreement to co-manage a new lending vehicle named Sebago Lake LLC, according to a recent regulatory filing....
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June 30, 2017, 07:25 AM
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Newtek Business Services Corp., an internally managed business development company, announced that Newtek Merchant Solutions, Premier Payments LLC, Small Business Lending, LLC, banc-serv Partners, LLC and Newtek Technology Solutions, each a...
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June 23, 2017, 07:00 AM
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TCG BDC, Inc.announced that it plans to make an initial public offering of 9,000,000 shares of its common stock. TCG BDC is expected to list its common stock on the NASDAQ Global Select Market under the symbol “CGBD.” The underwriters are expected to...
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June 12, 2017, 07:18 AM
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The run-up in business development company (BDC) equity prices in recent months should lead to further opportunistic equity issuance by some BDCs, says Fitch Ratings. For those firms trading above net asset value (NAV) and able to access equity...
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September 21, 2016, 07:27 AM
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Capital Southwest Corporation provided a $13 million term loan to refinance existing first lien debt of Amware Fulfillment, LLC ("Amware"), a portfolio company of Rotunda Capital Partners. The transaction closed on July 29, 2016. Capital Southwest is...
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August 03, 2016, 07:50 AM
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Full Circle Capital Corporation ("Full Circle") announced that it has entered into a merger agreement with Great Elm Capital Corp., a company formed by Great Elm Capital Group, Inc. ("GEC", formerly Unwired Planet, Inc.) and funds managed by MAST...
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June 24, 2016, 07:30 AM
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Fitch Ratings has affirmed the 'BB' Long-Term Issuer Default Rating (IDR) and debt ratings of Fifth Street Finance Corp (FSC). The Rating Outlook is Negative. Fitch has chosen to withdraw the ratings of FSC for commercial reasons. A full list of...
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June 08, 2016, 07:29 AM
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