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Business Advice

Insight2016-08-01T14:51:33-04:00

BDCs are well-positioned to handle Fed policies and recession

June 23rd, 2023|Comments Off on BDCs are well-positioned to handle Fed policies and recession

Mickey Schleien, managing director for equity research at Ladenburg Thalmann and Co, says that business-development companies have seen the rising interest-rate environment lead to higher yields, which has helped to offset declines in net asset value that BDCs have...

John Cole Scott’s 2023 BDC outlook

June 21st, 2023|Comments Off on John Cole Scott’s 2023 BDC outlook

Closed-End Fund Advisors President John Cole Scott sat down with Jane King on June 13, 2023, for a NAVigator interview to discuss the Q1 2023 earnings season for business development companies (BDCs).

19Jun, 2025

Bonus NAVigator: Gladstone’s Bob Marcotte at the AICA BDC Forum

By |June 19th, 2025|Podcast|

Bob Marcotte, President at Gladstone Capital Corp., says that government policies which encourage business investment and capital expenditures are creating outstanding conditions for the private credit market. In an interview at the Active Investment Company Alliance BDC Forum in New York City, Marcotte said...

18Jun, 2025

Christian Munafo on the Mid-2025 Economy

By |June 18th, 2025|Video Interviews|

Christian Munafo, Chief Investment Officer, Liberty Street Advisors, Inc., and Portfolio Manager of The Private Shares Fund, explores the current investment landscape for closed-end funds: capital raising, M&As, IPOs, tariffs and more. “I think the tariff dynamics in April put a bit of a shock to the system and slowed things down temporarily, but ...

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Disclosure: Views and opinions expressed are for informational and educational purposes only as of the date of production/writing/speaking and may change without notice at any time based on a multitude of factors. Speaker’s/presenter’s/author’s opinions are their own and may not necessarily represent the opinions of AICA, its Board, or its staff. Materials may contain “forward-looking” information that is not purely historical in nature, such as projections, forecasts, market return estimates, proposed or expected portfolio composition, and other items. Listed closed-end funds and business development companies trade on exchanges at prices that may be above or below their NAVs. There is no guarantee that an investor will be able to sell shares at a price greater than or equal to the purchase price or that a closed-end fund’s discount will narrow. Non-listed closed-end funds and business development companies do not offer investors daily liquidity but rather offer liquidity on a monthly, quarterly or semi-annual basis, often on a small percentage of shares. Closed-end funds often use leverage, which can increase the fund’s volatility (i.e., risk). Actual distribution amounts may vary with fund performance and other conditions. Past performance is no guarantee of future results. This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy, and is not provided in a fiduciary capacity. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. Closed-end funds frequently trade at a discount to their net asset value (NAV).
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Disclaimer Statement

Active Investment Company Alliance The Active Investment Company Alliance (“AICA”) is a trade association committed to educating and engaging investment professionals and investors about closed-end management companies: listed and non-listed closed-end funds, business development companies, interval funds and tender offer funds. The alliance supports transparency and, therefore, does not allow any agent, employee or representative to personally solicit any investment or accept any monies to be invested in a particular fund or security.

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