Prospect Capital’s Dividend Cut

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Prospect Capital Corporation joined an unfortunate group of BDCs that have cut dividends as yields weigh on the industry’s earnings. Prospect Capital’s $0.0833 per share monthly dividend ($1.00 per year) was reduced to $0.06 per share each month ($0.72 per … Continued

Owl Rock Capital AUM: $5.8 Billion?

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We calculate that Owl Rock Capital Partners, the rising manager of two non-traded BDCs, has as much as $2.18 billion of assets under management (AUM) as of June 30. When its commitments are fully called and invested, and the BDCs … Continued

Private BDCs are Raising a Lot of Money

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No longer are private BDCs just a way for financial advisers to inflate their commission checks. New non-traded BDCs are getting institutional support from big names. Owl Rock Capital (profile) is one such BDC. It has raised more than $1 … Continued


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After a long drought, The Carlyle Group successfully took its non-traded BDC to the public markets. TCG BDC, Inc. trades on the NASDAQ exchange under the ticker symbol TGBD. We explored its short history in a write-up of TCG BDC. … Continued

BDC Dividend Taxes

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Tax season can be complicated if you own BDCs because their dividends can be taxed at different rates. If you own a BDC in a taxable account, you should expect to receive a Form 1099 that explains the tax treatment … Continued

BDCs Issue Low-Yield Bonds

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What would you want to be paid to lend to a BDC? It appears the answer is somewhere between 3.75% and 4.5%, based on recent filings by three BDCs that have dipped their toes into the convertible bond market. Hercules … Continued