The markets are in the red again but not the BDC sector. However, 5 weeks into this volatile period, some damage is beginning to show.
As promised – albeit a little delayed – we publish an in-depth credit review of BlackRock TCP. Unfortunately, the data is not encouraging, nor are our conclusions about the BDC’s outlook.
At long last, the IVQ 2024 BDC earnings season is over and the BDC Reporter has been able to completely update the BDC NAV Change Table. We discuss some of our findings about BDC performance – short and long term – drawn from the data.
A portfolio company of three public BDCs is set to be sold but only one of the BDC will be booking a realized gain should the deal be consummated.
After a few weeks of turmoil the markets settled down – including the BDC sector. We inspect the damage done to date and assess where we go from here.
Will Artificial Intelligence change how BDC research and analysis is conducted? We wade into a complex subject with one side-by-side example.
We’ve taken a “deep dive” into WhiteHorse Finance’s portfolio and credit performance in 2024 to determine – as best one can – what 2025 might bring.
Another red ink week for all the markets, including the BDC sector. We assess the week’ s price movements as we approach “correction” territory weeks after reaching a multi-year high.
Based on one anodyne press release from a Saratoga Investment controlled portfolio company we’ve spun a theory about an expansion plan that could materially impact the BDC for better or worse.
CION Investment’s manager is “very pleased” with their 2024 results but the BDC Reporter – after reviewing the numbers – is not so sure. We explain why.
Great Elm Capital – with a new-ish management and strategy – has just announced an increase in its dividend. Is the BDC on the right track after years of struggle?
Bloomberg has just published a new tell-all article about Prospect Capital. We had a look at the many revelations involved but found that the authors left out the most important consideration for anyone invested in the controversial BDC.
The BDC rally came to a screeching halt this week, as all the major indices slumped in the face of tariff uncertainty. We go through the metrics and the survey the extent of the damage and then turn to how the BDCX sector has fared in 2025 to date.
WhiteHorse Finance had a poor 2024 by almost any standard. We review the key metrics and then turn our attention to 2025 and ask if matters will get better in the year ahead.
Compared to recent years, Fidus Investment had a mediocre 2024 where realized earnings and net book value changes are concerned. However, the evidence suggests 2025 could see the BDC back to its former winning ways.
Here are selected highlights from Monroe Capital’s IVQ 2024 conference call which suggest 2025 promises to be a difficult year.
Although the BDC sector was down price-wise overall in Week 9, the rally continues. We review all the usual metrics and compare them to the broader market. Finally, we share our greatest concern about what might derail the market.
In something of a shocker, Goldman Sachs BDC has announced a huge cut in its regular dividend. We review why this has happened and what sort of payout shareholders should expect going forward and offer our opinion on how management could have done better.
We use the opportunity of MidCap Financial reporting its IVQ 2024 results to analyze what is happening to the BDC’s loan spreads, and what that might tell us about the BDC sector more generally.
Hercules Capital has extracted itself from a difficult credit situation with the sale of a troubled gene therapy portfolio company.