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The second quarter will be a crucial reporting period for business development companies, which target their capital at the US economic heartland of SMEs.
Illuminated emergency exit
John Kissick is stepping away from the business he co-founded in 1997, with 15-year Ares veteran Kipp deVeer taking his place around the table.
While the BDC sector is riding high, an improvement in reporting standards could attract many more institutional investors, says Cliffwater's Stephen Nesbitt
After New York-based MCC faced vociferous opposition to its original internal merger proposal, the firm reworked its offer and is moving ahead with an altered proposal.
Eversheds Sutherland executive partner Cynthia Krus shares what the coming year likely has in store for business development companies.
The merger would, as of the end of the third quarter, produce a BDC with investments and commitments of $3.25bn.
The transaction is just the latest in a string of mergers that are slowly reshaping private credit.
In our annual list of the top fundraisers, the top 10 has barely changed, and the top firms continue to pull further away from the pack.
Despite significant growth in the industry over the last 10 years, BDCs are still not well known or understood, says Eversheds Sutherland's Cynthia Krus
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