Business development companies, or BDCs, represent a growing class of relatively large, closed-end, SEC-registered funds. Most are publicly traded. BDCs supply capital, primarily debt but also equity, to the middle market space. They are a valuable addition to other available financing options as traditional banking industry sources have been facing other headwinds and capital demands. Larger BDCs have well over $1 billion of assets under management, with the ability to raise and disburse additional capital.
