RECENT NEWS
Insurance Journal  10 hrs ago  Comment 
Markel Corporation reported that Glenn Mozingo has been named managing director, Global Insurance Business Development, and corporate account executive. In this new role, Mozingo will serve as a key point of contact for brokers throughout the...
Insurance Journal  Apr 12  Comment 
Method Insurance Services in Omaha, Neb., has hired Michael Brunson as business development specialist. In this position, Brunson will focus on building Method’s agency distribution network in key Midwest states, as well as roll out the...
Insurance Journal  Apr 12  Comment 
Keystone Insurers Group, a Northumberland, Penn.-headquartered property and casualty insurance partnership, has named Charles A. “Tripp” Craig III director of business development. Craig has 30 years of experience in the insurance industry,...
Insurance Journal  Apr 11  Comment 
LevelFirst, the wholesale broker and MGA binding facility owned by IIAT Services Co., has appointed Richard Deal as business development manager. Deal is tasked with maximizing the potential of existing relationships as well as growing revenue...
MarketWatch  Apr 6  Comment 
Coach Inc. said Thursday that it has named Ian Bickley to a newly-created role in the company, president of global business development and strategic alliances, effective July 2. Bickley will be responsible for strategic partnerships, oversee...
Mondo Visione  Apr 6  Comment 
Xceptor, the leading provider of process automation and data management services for the financial sector, today announced the appointment of Marco Sablone as Director of Sales & Business Development for North America. Reporting directly to...
Automotive World  Apr 5  Comment 
The global technology group Freudenberg was able to continue its good business development despite challenging economic conditions. In 2016, the Group boosted sales to €8,590.1 million (previous year: €7,571.6 million) on the basis of the...
GenEng News  Apr 4  Comment 
Aviragen Therapeutics said today it will cut its workforce by approximately 25% and explore “strategic alternatives” that could include a merger or sale of the company. The workforce reduction would be small, amounting to approximately...
Automotive World  Apr 4  Comment 
Chuck Brokish, Director of Automotive Business Development, Green Hills Software has been confirmed as a speaker at Connected Car California. Green Hills Software’s Director of Automotive Business Development, Chuck Brokish, has over 25 years of...
Forbes  Mar 30  Comment 
There’s been a mini-wave of insider buying in the BDC (business development company) sector. This is worthy of our attention for three reasons.




 
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A business development company (BDC) is a company that makes private equity investments, and is essentially a private equity firm that goes public and sells shares of itself. It is funded with the purpose of lending and investing in private companies. A business development company is similar to a Venture Capital (VC) firm, but a key difference is that BDCs allow retail investors to invest, via the BDC, in startup companies. Many BDCs are listed on the NYSE, AMEX, and Nasdaq (see the list below).

American BDCs are required to invest at least 70% of assets in private U.S. companies. Most BDCs have regulated investment company status, which means they must distribute at least 90% of their taxable income to shareholders each year. This also means a BDC can't put more than 5% of assets in any single investment or buy more than 10% of another company's voting stock, or put more than 25% of assets into a business they control or into businesses in the same industry.

The establishment of business development companies allowed retail investors to participate in and benefit from investing in private businesses by allowing them to buy shares of closed end funds that invested in these businesses. The term business development company was defined in the Investment Company Act of 1940, section 2(a)(48). To qualify as a BDC, a company must comply with Section 54 of this same act. The Investment Company Act set standards by which investment companies should be regulated, including mutual funds.

Examples of publicly-traded business development companies include:

External Resources

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