Business Development Company market participants are focused keenly on valuation in the wake of the novel coronavirus and the impact on their underlying portfolio investments.
The BDC Roundtable will bring together BDC executives, asset managers, and fund sponsors, either managing existing or exploring new BDC structures, accounting executives, legal experts, bankers, and various other industry participants serving the BDC community.
A prudent recap and opinion on the proposed steps the SEC is taking toward modernizing fund valuation guidance.
The SEC has Proposed Rule 2-a5, which will update its fund valuation guidance for the first time in 50 years, establishing a board’s responsibilities as it pertains to a fund’s determination of their investments.
The SEC recently announced, as a response to COVID-19, they will provide temporary exemptions to BDCs to issue and sell senior securities.
Though portfolios and deal pipelines weren’t completely inoculated against the downturn, several structural features of the mid-market lending space weathered the storm.
Private equity and private debt investors are acutely focused on new AICPA Guidance that recommends a “calibration” approach for valuing private securities.