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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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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Great Elm Capital, a business development company, amended its existing $25 million revolving line of credit. City National Bank is the lender according to an 8K filed with the Securities and Exchange Commission.The amendment provides for a...
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November 28, 2023, 07:53 AM
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New Mountain Finance Corporation, the publicly traded credit BDC arm of New Mountain Capital, announced the appointment of Kris Corbett as Chief Financial Officer, effective November 27, 2023.“We are pleased to welcome Kris Corbett to the New...
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November 27, 2023, 08:00 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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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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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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Business development companies (BDCs) have periodically evolved since their creation in the late 1980s, with the advent of perpetual non-traded BDCs being the most recent example, Fitch Ratings says. Continuous fundraising in perpetual non-traded...
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June 10, 2022, 07:49 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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Great Elm Specialty Finance, a newly formed, wholly owned subsidiary of Great Elm Capital Corp., a business development company, announced a new leadership appointment intended to foster the company’s private direct lending solutions to middle market...
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November 19, 2021, 08:00 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, a business development company, announced the Company has entered into a Loan, Guarantee and Security Agreement with City National Bank.The Loan Agreement provides for a senior secured revolving line of credit of up to $25 million...
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May 07, 2021, 07:57 AM
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Newtek Business Services Corp., an internally managed business development company (“BDC”), announced that Newtek Business Lending, LLC (“NBL”), Newtek’s portfolio company that originates and funds SBA 504 loans, closed a $100 million credit facility...
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March 23, 2021, 07:30 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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Monroe Capital Corporation BDC announces third quarter 2020 financial results. Third Quarter 2020 Financial Highlights:
Paid quarterly dividend of $0.25 per share;
Current annual cash dividend yield to shareholders of approximately...
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November 06, 2020, 08:10 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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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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FS Investments, an alternative investment manager, and KKR, a global investment firm, announced that they have entered into an agreement to create the largest business development company (BDC) platform, with $18 billion in combined assets under...
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December 11, 2017, 08:00 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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Monroe Capital Corporation announced its financial results for the third quarter ended September 30, 2017. Third Quarter 2017 financial highlights include:
Net investment income of $6.9 million, or $0.34 per share
Adjusted Net Investment Income...
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November 08, 2017, 07:08 AM
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FS Investments, an alternative investment manager and the largest manager of business development companies (BDCs), announced that its BDC direct lending platform committed more than $1.1 billion in senior secured loans and other debt and equity...
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September 18, 2017, 07:29 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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FS Investments, a leading alternative investment manager, announced that its business development company (BDC) direct lending platform committed approximately $988 million in senior secured loans and other debt and equity financing to middle market...
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December 02, 2016, 07:16 AM
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Reuters Loan Pricing Corporation reports business development companies (BDCs), which extended share price gains this summer after a prolonged slump, still face hurdles that prime the specialized closed end investment funds for consolidation...
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September 19, 2016, 08:05 AM
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FS Investments, a leading alternative investment manager, announced that its business development company (BDC) direct lending platform committed over $830 million to middle-market companies in the second quarter of 2016, bringing its year-to-date...
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August 24, 2016, 07:26 AM
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U.S. Financial Bond issuance declined for all sectors except insurance in the first half of 2016, according to a new Fitch Ratings report. The first half of 2016 closed with net new issuance at $56 billion, annualizing to a 7% growth rate and 16%...
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August 18, 2016, 07:14 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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Franklin Square Capital Partners announced that its BDC direct lending platform committed over $1.9 billion to private deals in the fourth quarter of 2015, and more than $5.6 billion for the full year 2015. New directly originated deals during the...
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March 25, 2016, 07:53 AM
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For the first time since the financial crisis, business development companies (BDCs) are facing a relatively significant near-term maturity wall, as $1.3 billion of convertible notes and other debt issued by Fitch-rated BDCs in 2011 and 2012 are...
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October 19, 2015, 07:50 AM
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Capital Southwest Corporation announced that it has formed a joint venture with Main Street Capital Corporation to form I-45 SLF LLC, a senior loan fund that will invest primarily in syndicated senior secured loans in the upper middle market. The...
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September 11, 2015, 08:02 AM
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Capitala Finance Corp.announced that it recently invested $8.0 million in senior subordinated debt to assist in the acquisition of VITAL Network Services, Inc. (“VITAL”) by Vology, Inc. (“Vology”). Headquartered in Tampa, Fla., Vology is a leading...
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September 03, 2015, 07:50 AM
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The removal of business development companies (BDCs) from the S&P and Russell indices will likely reduce the liquidity of their shares and increase their cost to raise equity in the near-term, according to Fitch. The removals involved 33 BDCs...
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March 14, 2014, 07:43 AM
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Main Street Capital Corporation has priced a public offering of $80.0 million in aggregate principal amount of 6.125% senior unsecured notes due 2023. The notes will mature on April 1, 2023, and may be redeemed in whole or in part at any time or from...
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March 27, 2013, 07:37 AM
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