Perpetually Non-Traded US BDCs See Higher Redemptions, Slower Fundraising
Investor sentiment has turned negative toward publicly listed U.S. business development companies (BDCs) with private-credit and software exposure, lowering valuations and limiting equity market access. That shift is now spilling over to perpetually non-traded BDCs, which have seen higher redemptions and slower fundraising in recent months. Fitch Ratings expects flows may remain under pressure in the coming quarters which, if sustained, could reshape the competitive landscape for BDCs.
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