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Welcome to another installment of our BDC Market Weekly Review, where we discuss market activity in the Business Development Company ("BDC") sector from both the bottom-up - highlighting individual news and events - as well as the top-down - providing an overview of theCheck out Systematic Income and explore our Income Portfolios, engineered with both yield and risk management considerations. Use our powerful Interactive Investor Tools to navigate the BDC, CEF, OEF, preferred and baby bond markets.Read our ...

Welcome to Cash Flow Venue, where dividends do the heavy lifting! Blending my financial chops with the timeless wisdom of value investing (and love for steady income), I’ve built a rock-solid pillar in my financial foundation through dividend investing. I believe it’s one of the most accessible paths to achieving financial freedom, and I’m excited to share my insights with you. I’m a finance professional with deep experience in M&A and business valuation. What does that mean in practice? I’ve evaluated coun ...

RomoloTavani/iStock via Getty Images Crescent Capital BDC (NASDAQ:CCAP) is a business development company [BDC] focused on debt investments with a portfolio of around $1.6 billion spread across more than 180 portfolio companies. In recent quarters, the BDC has witnessed a sustained improvement in its net asset value [NAV] per share and has consistently reported net investment income [NII] well in excess of its $0.42 regular quarterly distribution. The BDC currently offers a highly attractive forward dividen ...

spawns Business development companies (BDCs) are unique entities aiming to fill the financing gap for businesses struggling to acquire bank or public financing. Therefore, BDCs typically concentrate on the smaller and middle-market companies (often lower middle-market). The business model is pretty simple to understand - gather financing sources (mainly equity) and deploy the capital to generate favourable investment spreads. Most BDCs are externally managed. There aren't many internally managed ones; t ...

tadamichi In this article, we catch up on the latest quarterly results of the Golub Capital BDC (NASDAQ:GBDC). The company delivered a strong quarterly result with a 4.8% total NAV return. It trades at an 11.3% total dividend yield and a 3 discount to book. Its net income yield is 12.5% - in line with the sector median but, arguably, overstated due to the one-off incentive fee waiver. We have maintained a Hold rating on the stock - our previous review is linked here. The valuation of the stock has impro ...

Hinterhaus Productions SLRC is an owner, originator and manager of corporate loans to smaller companies. As of June 30, the SLRC total portfolio size is $2.1 billion and is diversified amongst 800 unique issuers and is 98% senior secured investments. The company is a business development corporation, or BDC. This designation allows for profits to be distributed to shareholders, similar to a REIT. The company is similar to a bank, which only makes loans and pays most of the profits to shareholders. Accor ...

tadamichi Welcome to another installment of our BDC Market Weekly Review, where we discuss market activity in the Business Development Company ("BDC") sector from both the bottom-up - highlighting individual news and events - as well as the top-down - providing an overview of the broader market. We also try to add some historical context as well as relevant themes that look to be driving the market or that investors ought to be mindful of. This update covers the period through the first week of Septembe ...

AlKane For those unacquainted with Hercules Capital (NYSE:HTGC), the Company operates within a versatile BDC sector. BDCs (business development companies) help fill the financing gap for smaller or middle-market companies that often struggle with acquiring bank or public financing. They acquire capital (primarily equity) to deploy it and generate value through investment activities. HTGC is one of the highest-quality players in the sector with a solid track record, as we can read in its latest 10-Q stat ...

Hiroshi Watanabe Hercules Capital, Inc. (NYSE:HTGC) is my only VC-focused BDC for which I have assigned a buy rating currently. My first piece on HTGC - Hercules Capital: A Different Type Of VC-Focused BDC - was published in January 2024. As it could be understood from the title, the thesis was based on fundamentals that differ from those of other VC tilted BDCs. More specifically, it was about relatively conservative equity stakes, sound capital structure and disciplined credit underwriting strategy th ...