Kayne Anderson BDC

KBDC

Market cap $1.06B

There is certainly no shortage of arguments why not to invest in BDCs. The sector median BDC trades at a 21% discount to NAV. For me, this provides an opportunity to scoop up unfairly punished gems.

The Fed's dovishness has been the key driver for the BDC sell-off. The idea is that lower interest rates should lead to lower dividends (i.e., BDCs cutting their dividend across the board). While it is a process that takes time, the current data show that many BDCs are well-positioned to safeguard their existing dividends.

BDCs have had a rough year so far. Yet, Q3 earnings data points indicate that the tide could be turning. While there are some tangible improvements in BDC business environment, many risks remain open.

Kayne Anderson BDC, Inc. ( KBDC ) Q3 2025 Earnings Call November 11, 2025 10:00 AM EST Company Participants Andy Wedderburn-Maxwell Douglas Goodwillie - Co-CEO & Co-Chief Investment Officer Frank Karl - Senior Vice President Terry Hart - CFO & Treasurer Kenneth Leonard - Co-CEO & Co-Chief Investment Officer Conference Call Participants Douglas Harter - UBS Investment Bank, Research Division Kenneth Lee - RBC Capital Markets, Research Division Presentation Operator Hello, and welcome to Kayne Anderson BDC, Inc.'s Third Quarter 2025 Earnings Call. [Operator Instructions] As a reminder, this conference call is being recorded.

CHICAGO--(BUSINESS WIRE)--Kayne Anderson BDC, Inc. (NYSE: KBDC) (“KBDC” or the “Company”), a business development company externally managed by its investment adviser, KA Credit Advisors, LLC, an affiliate of Kayne Anderson Capital Advisors, LP (“Kayne Anderson”), today announced the promotion of Frank Karl to President and the appointment of Andy Wedderburn-Maxwell as Senior Vice President. Frank Karl joined Kayne Anderson Capital Advisors, L.P. (“Kayne Anderson”), in 2013 and previously serve.

CHICAGO--(BUSINESS WIRE)--Kayne Anderson BDC, Inc. (NYSE: KBDC) (“KBDC or the Company”), a business development company externally managed by its investment adviser, KA Credit Advisors, LLC, today announced its financial results for the third quarter ended September 30, 2025. Financial Highlights for the Quarter Ended September 30, 2025 Net investment income of $30.0 million, or $0.43 per share; Net asset value of $16.34 per share, decreased from $16.37 per share as of June 30, 2025, primarily.

BDCs have been clearly out of favor this year. Yet, there are some clear pockets of opportunity, which have started to showcase a nice momentum - just as I outlined in my recent BDC strategic piece. It does not mean, however, that all deep-discount BDCs will recover.

Many investors have become fearful of BDCs. The sector wide 22% discount to NAV is proof of that. Yet, very recently I have been adding more to my positions.

BDCs have recently suffered a significant downside volatility. There is indeed a justified reason for system-wide valuation adjustments. Yet, for some BDCs the market has gone too far, while for some the necessary level correction has not yet happened.

CHICAGO--(BUSINESS WIRE)--Kayne Anderson BDC, Inc. (NYSE: KBDC) (“KBDC”), a business development company externally managed by its investment adviser, KA Credit Advisors, LLC, announced today that it will release its financial results for the third quarter ended September 30, 2025 on Monday, November 10, 2025, after the close of financial markets. KBDC will host a conference call at 10:00 am ET on Tuesday, November 11, 2025, to review its financial results. All interested parties are invited to.