This week, new tariff threats caused the major indices to slump again but less so for the BDC sector. We discuss all that but also the increasing number of BDCs dropping in price and what the future might hold.
We’ve been digging deeply into the credit performance of Goldman Sachs BDC – whose performance of late has left something to be desired. Here is an annotated version of the BDC’s IQ 2025 conference call with a focus on credit. Another article will follow.
An under-performing Capital Southwest portfolio company has just made a strategic acquisition. We evaluate the potential impact on the BDC.
“Private credit” – and that includes public BDCs – is the subject of many dire warnings of late. Is leveraged lending really “too risky” and headed for a GFC-lite implosion?
The major markets shot up this week and the BDC sector followed. Only a couple of BDCs were left behind – we discuss who and why.Also, when looking forward, we have a look at how BDC book values fared in the IQ 2025 and speculate at what comes next.
Horizon Technology Finance is getting a C-suite makeover. Is this just part of “succession planning” or is there more happening here than we are being told?
Is Main Street Capital likely to cut its dividend shortly? A short seller thinks so. We look at the numbers.
In a IQ of 2025 quarter where many other BDCs stumbled, Blackstone Secured Lending “stuck the elanding”.
There was a lot more going on to BDC prices than the (0.2%) weekly decline in the sector’s price might suggest. Unfortunately, most of the developments are on the bleak side.
We summarize New Mountain’s latest conference call and re-visit why the BDC has lost its popularity with investors and what management is doing to revive its popularity.
OFS Capital’s IQ 2025 financial and credit performance was weak from most perspectives.
The major indices had a very good week but the BDC sector less so. Is the widening gulf between returns in the main markets and the BDC sector a portent of more to come?
We’ve been “playing” with AI to see if the technology can help us and our readers. Here are the results of a real-life experiment with Sixth Street Specialty’s results.
Horizon Technology Finance has seen its stock drop sharply. We review in detail the reason why and what might happen next to the troubled venture-debt BDC.
We edit the latest Ares Capital earnings conference call to focus only on credit issues discussed and provide our assessment of performance and outlook at a critical moment.
BDC prices rose – along with the broader markets – for a second week. We analyze where the sector now stands after two months of back and forth. We also address what may lie ahead and how the BDC sector might fare.
We analyze Oxford Square’s IQ 2025 results, with a focus on its shrinking book value. We also have a look at what we’re told about credit metrics in the loan market, searching for early signs of stress.
PennantPark Floating Rate has been negotiating with its secured lenders and come away with a lower loan limit but better pricing. We assess the impact of the news on the balance sheet and income statement.
Capital Southwest has just received its second SBIC license. We analyze what this means for the BDC’s funding needs over the years ahead.
The major indices dropped in the holiday shortened week but the BDC sector did not. We have a theory as to why that happened. We also review where we stand on a year-to-date basis and where we might be headed at a time when the stakes are worryingly high.