There have been some ominous warnings made about the outlook for private credit of late, two of which are quoted here. We have a dispassionate look and discuss how BDC investors might fare.
As the major indices went from strength to strength, BDC metrics were more diffident. This seems reasonable enough as the Fed’s rate cuts have launched a new phase for BDCs that should significantly change what we’ve been accustomed to since the end of 2021.
Shortly after BackRock TCP reached a new 52 week price low – about which we wrote an article – a major shake-up of senior personnel has been announced, leading us to put pen to paper again.
BlackRock TCP Capital has reached – yet again – another 52 week low. We review the BDC’s fall from grace and what that has meant for investors over time.
Up and down BDC prices go. This week, the BDC sector followed the broader markets up. We review which BDCs were most affected and muse about what the future might bring as we hurtle forward into 2024.
After many years, a key equity investment of Logan Ridge Finance has been sold for a big gain. We analyze the possible impact on the BDC’s earnings power.
Monroe Capital’s stock price has been moving up sharply of late. We analyze the likely reasons and ask the obvious question: will this continue ?
The major indices had a dreadful week price-wise but the BDC sector didn’t fare as badly. Still, the sector remains well off its high and capable of heading in any direction right now.
We undertake yet another in-depth analysis of a BDC’s credit performance. This time, we’re looking at Trinity Capital – a fast growing player with mighty ambitions.
We continue to deep dive into BDC credit performance and turn now to OFS Capital – a BDC much out of favor with investors right now.
The main market indices have left a tough beginning to August behind them. Not so the BDC sector. We review the latest metrics and then engage in a long discussion about changing BDC credit performance of late.
Something unusual happened on Prospect Capital’s latest earnings conference call: some very bad tempered responses by the CEO to an analyst’s questions, adding to the controversy that swirls around this BDC.
We re-publish an article from the BDC Credit Reporter regarding a troubled portfolio company of Runway Growth Finance.
The major indices have recovered from the recent global panic. The BDC sector, though, has not. The metrics are better than they were but remain well off the highs of earlier this summer.
For the third time of late, the BDC Reporter takes a deep-dive into the credit performance of a BDC: relative public newbie Runway Growth Finance.
WhiteHorse Finance announced a surprise new non-accrual in the IIQ 2024. We review this latest development and the BDC’s credit performance both in the here and now and over the long term.
We take a deep breath and evaluate where the BDC sector stands after a tumultuous couple of weeks. We also review which BDCs have managed to thrive and which have not in 2024, after 33 weeks.
We take a long, hard look at Crescent Capital’s credit performance, both looking at current and long-term results. We were a little surprised by our own conclusion.
The BDC Reporter tackles the thorny subject of BlackRock TCP’s weak performance over the last two and a half years and whether more of the same is in the cards in the years ahead.
BDC investors suffered through a second difficult week in the markets, faring worse than the major indices. The sector is now in “correction” territory. We assess the damage to date and evaluate what might lie ahead.