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Structured finance — $20M–$500M private credit

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Answers · Glossary · live dataset

What is a BDC (business development company)?

A business development company (BDC) is a US closed-end investment vehicle, regulated under the Investment Company Act of 1940, that lends to and invests in private middle-market companies and distributes most of its income to shareholders. Many are publicly traded, so their portfolios and yields are disclosed. TerraNova tracks 18 active BDCs among 912 funds.

Figures from the researched book · updated Sep 14, 2026 · refreshed daily · rendered Sep 15, 2026

912

Active funds

4,773

Deal-team contacts

3,798

Verified emails

Fund-type breakdown →

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