"The Private BDC" Alternative

Date: June 01, 2019

Summary of The “Private BDC” Alternative

  • A private BDC is regulated as a business development company under the Investment Company Act of 1940 but conducts private offerings to accredited investors;
  • Attractive option for asset managers that have robust stable of accredited investors;
  • Attractive option for asset managers that lack a public track record;
  • Private BDCs not subject to some of the restrictions that have limited fundraising by publicly-registered non-traded BDCs;
  • Recent increase in filings by private BDCs;
  • Eventual liquidity can be a listing, initial public offering, liquidation or merger.

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