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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. This site tracks 46 active BDCs among 1,557 funds.

Figures from the researched book · updated Oct 27, 2026 · rendered Oct 30, 2026

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