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Market observers say progress has been made towards acceptable compensation structures, finds David Turner. However, these should not be the only criteria in deciding who to back
As BDCs dive down into the capital structure and into sectors facing tough times, recovery rates could be significantly lower than during previous downturns. Andrew Hedlund investigates
Henriquez’s wife was also allegedly involved in the scandal and pleaded guilty. Both are set to be sentenced early next year.
pile of rolled dollar note bundles
Ironically, BDC first-lien assets have increased in recent years, but a larger share of BDC assets are considered distressed than the overall secondaries market.
The firm's founder took a position early on in its development that modest goals and bold ones required similar effort to achieve. So why not aim high?
In our September magazine’s Deep Dive, investment professionals stressed the benefits of permanent capital. One overlooked advantage is making the asset class more accessible.
The combination with one of the firm's private BDCs, expected to close later in September, will create one of the largest publicly traded BDCs.
It also has positions in two other business development companies: Great Elm Capital Corporation and MVC Capital.
The firm may oversee more than $10bn of assets for the strategy a little more than a year after it formally parted ways with FS Investments.
Alcentra BDC shareholders will retain 19% of the combined entity, while the buyer will reduce its management fee and up its hurdle rate.
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