Please LOGIN before you register the event
|1pm – 1:15pm||Attendee Login and Network at Virtual Tables|
|1:15pm – 1:30pm||Welcome by John Cole Scott – AICA’s Founder & Executive Chairman & “ABCs of BDCs’ Session” Presentation slides in PDF format|
|1:30pm – 2:30pm||Panel #1: “Traditional BDC Managers: Competition for Credit Platforms”
Review of this quarter’s earnings season and how BDC portfolio companies are handling the COVID recovery. How can BDCs benefit from inflationary pressures?
|2:30pm – 2:45pm||Networking Break|
|2:45pm – 3:35pm||Panel #2: “Assessing Risk & Opportunity in Public BDCs”
Looking at best practices and how BDCs are often structured differently from each other from the Service Provider’s perspective. A look at potential improvements for gaining more institutional investment ownership in the BDC sector.
|3:35pm – 3:50pm||Networking Break|
|3:50pm – 4:30pm||Panel #3: “Institutional Investor Fireside Chat”
Join AICA’s Founder John Cole Scott, who as CIO of CEF Advisors is the portfolio consultant for SmartTrust UITs: CEFA Select BDC UIT Series 21. John and David will have a thorough and timely conversation on business development company analysis and how a firm like Confluence Investment works to create investment opportunities for their clients in a retail investor driven sector. This extended conversation should help educate financial advisors and institutional investors of how to research and manage risk in the BDC sector.
|4:30pm||Event Closing Remarks – John Cole Scott – AICA’s Founder & Executive Chairman|
|4:30pm – 5:00pm||Post Event Networking with Speakers, Sponsors, Members and Fellow Attendees|
What are Business Development Companies (BDCs)?
- BDCs are closed-end funds that provide small, growing companies access to capital.
- BDCs were created by Congress in 1980 to provide an opportunity for individual non-accredited investors to participate in private investments
- BDCs (just like traditional closed-end funds) offer
- 1940 Act Investment Company status/regulation
- Active Management
- Daily Liquidity
- Tax-advantaged and earnings are passed through to investors in the form of dividends and distributions (similar to REITs and MLPs)
- BDCs leverage is limited to 200% (*150%) asset coverage = total assets / total debt or “one turn” of leverage, excluding SBIC facilities (BDCs).
- BDCs typically have a higher fee structure w/ carry