Economic development agencies grant loans to medium-sized private companies at high interest rates. They’ve proven popular with retail investors in recent years, as they offer dividend yields of around 10%. Total industry wealth has doubled to around $260 billion since the end of 2020.
Leading BDCs include
Owl Rock Capital
FS KKR capital
Blackstone secured lending
(BXSL). The largest BDC is the non-traded one
Private Credit Fund known as Bcred, which has grown to net assets of $22 billion since its inception in January 2021, more than doubling its size
Capital, the largest public BDC.