Ares Capital: A High-Rate Play With Profound Yields
Ares Capital(ARCC) Seeking Alpha·2024-02-02 07:29EschCollection Investment Thesis Ares Capital (NASDAQ:ARCC) is a business development company (BDC) that specializes in buying debt and equity of private middle market companies. As of Q3 of 2023, Ares Capital had a portfolio of over $21.9 billion, consisting of ~66% senior secured loans. Ares Capital is the largest business development company by market capitalization, with a current market cap of over $11.5 billion. 2023 has been a great year for BDCs as a whole with high interest rates leading to rec ...