The 5 biggest stories in BDCs this week.
- Barron’s names 8 top BDCs for a rising-rate environment. Top choices include ARCC, GBDC, SCM, GARS, HTGC, OFS, TCRD and TSLX.
- PE Hub reports PIMCO and Solar Capital Partners expand their relationship.
- Medley gets named Lender of the Year at the 8th Annual Americas M&A Atlas Awards. Unfortunately, its investors haven’t been so lucky.
- Crossroads Capital (XRDC) announces an exit of an investment in Centrify and Metabolon. The BDC is effectively controlled by an activist, Bulldog, which is pushing for its liquidation.
- A class action suit filed against Fifth Street Finance is approaching a settlement for about $14 million. We couldn’t access the Notice at the time of writing (available here), but we’re curious how much shareholders will receive net of legal fees. Best guess: Not much.
(Efficient markets? All but GARS and TCRD are within 10% of their 52-week highs!)