BDC

Houlihan Lokey: Borrowers hold the cards in private credit

The proliferation of covenant-light loans is driving competition among lenders, a recent report says. A Houlihan Lokey executive breaks down the consequences.

Cracks emerging in BDC loans, mid-market issuers

Direct tariff exposure remains low, but second-order effects could prove troublesome.

KBRA speaks of lender resilience in three reports

Companies with direct tariff exposure – those that must buy from global sources hit by tariffs – are the obvious candidates for debt default.

First Eagle launches evergreen BDC

The public but non-listed vehicle plans to lend to borrowers with EBITDA of $5m-$50m.

Antares launches flagship BDC

Antares Private Credit Fund caters to institutions, with an eye on private wealth

BDC Manager Ranking 2024

The Private Debt Investor BDC ranking looks at the biggest managers of business development companies in North America, with rankings for both public and private BDCs.

Fitch: BDCs face ‘deteriorating’ environment in 2025

Lower portfolio yields and rising non-accruals are largest threats to BDCs’ performance.

BC Partners Credit to acquire Runway Growth

Agreement, expected to close by end of 2024, gives BP Partners benefit of Runway’s expertise in ‘growth lending’.

IMF raises concerns on private debt valuations and PIK income

Payment-in-kind income as percentage of BDC interest and dividend has risen since 2021.