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In accordance with the idea that size matters, a partnership between FS Investments and KKR, that manages two business development companies, has agreed to merge them.
BlackRock Capital Investment Corp. will retain its equity ownership of the asset-based lender, its largest portfolio company
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.
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