BDC portfolio marks edge higher in most recent quarter*

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*Based on universe of BDCs that have reported 4Q23 earnings as of 2/13/24

BDC earnings season is in its early stages, with the vast majority of funds still yet to file. However, taking a look at the 16 BDCs that have published their 4Q23 results as of February 13 shows that portfolio loan valuations have edged higher overall, as hopes of an economic soft landing increased and credit spreads tightened. For the universe of BDCs that have reported 4Q23 earnings, roughly two-thirds of them posted an increase in net asset value per share.