Monty Rakusen This article was co-produced with Williams Equity Research. Wall Street has been establishing its foothold in the private credit space for about 15 years now. Its main focus has been raising capital for private Business Development Companies (‘BDCs’). After building out the portfolios and a track record, the private BDCs eventually list on…
JamesBrey Blackstone Secured Lending (NYSE:BXSL) convinces with its strong net investment income trajectory, a low pay-out ratio, top loan quality, a growing net asset value as well as a commitment to raising the quarterly dividend. Although I am not chiefly a BDC investor, I believe Blackstone Secured Lending makes a very strong value proposition for…
VioletaStoimenova The Canadian AI-based lending services provider Propel Holdings (TSX:PRL:CA)(OTCPK:PRLPF) has had a great past year at the stock market, with a 125% increase in share price. The rise continues into this year, with a 21% increase year-to-date [YTD]. Underpinning this impressive uptick is the solid growth in its financials. Over the past three years,…
Vivek Vishwakarma/iStock via Getty Images Income stocks have been left in the dust as growth stocks are what keep driving market indices to higher highs. While seeing capital gains can be nice, it’s income from various sources that pay the bills at the end of the day. Plus, dividends from these stocks can be a…
artisteer Overview I frequently ignored Oaktree Specialty Lending (NASDAQ:OCSL) due to the falling share price. I figured that there was no way OCSL had the ability to provide a sufficient level of total return with such a fall in share price. Since inception, the BDC (business development company) is down nearly 47% in price. However,…
JamesBrey As my regular readers probably know, I am not bullish on the BDC (BIZD) sector right now. I recently sounded caution on sector blue chips Ares Capital Corp (ARCC) and Main Street Capital (MAIN) while also pointing out the challenges being faced by FS KKR (FSK) as well as the sector as a whole….
Pixelimage Blackstone Secured Lending (NYSE:BXSL) out-earned its dividend with net investment income in the fourth quarter which in turn led to the BDC reporting a 1% QoQ increase in its net asset value per share. The BDC’s large floating-rate debt portfolio is still producing top results for Blackstone Secured Lending and BXSL is a rare…
Morgan Stanley Direct Lending Fund (NYSE:MSDL) Q4 2023 Earnings Conference Call February 29, 2024 10:00 AM ET Company Participants Michael Occi – Head of Investor Relations and Chief Administrators Officer Jeffery Levin – President and Chief Executive Officer David Pessah – Chief Finance Officer Orit Mizrachi – Chief Operating Officer Rebecca Shaul – Head of…
Carlyle Secured Lending Inc. (NASDAQ:CGBD) Q4 2023 Results Conference Call February 27, 2024 11:00 AM ET Company Participants Daniel Hahn – Shareholder Relations Aren LeeKong – Chief Executive Officer Tom Hennigan – Chief Financial Officer Conference Call Participants Bryce Rowe – B. Riley Finian O’Shea – Wells Fargo Securities Arren Cyganovich – Citi Melissa Wedel…
PM Images Overview While my portfolio is already heavy-weighted with BDCs (business development companies), I continue to get pulled in by the appeal of these high yielding opportunities. TSLX has a solid performance history and juicy high yield of 8.6%. Sixth Street Specialty Lending (NYSE:TSLX) operates as a business development company, offering a diverse range…
champpixs Back in August last year, I wrote an article on Oaktree Specialty Lending (NASDAQ:NASDAQ:OCSL), which is one of the largest BDCs in the world with a market cap of ~ $1.7 billion. My thesis back then was purely interest rate driven and supported with the benefits of OCSL’s scale that provide a competitive advantage…
Nadia AUDIGIE/iStock via Getty Images The journey to build a sustained and sustainable dividend income stream is arduous with yield traps, dividend cuts, and collapsing stock prices forming some of the many mines to avoid. Business development company Oaktree Specialty Lending (NASDAQ:OCSL) seeks to generate investment income and capital growth by providing financing to companies….
ugurhan Blackstone Secured Lending Fund (NYSE:BXSL) is a business development company or BDC externally managed by Blackstone Credit BDC Advisors. As a result, BXSL benefits from Blackstone Credit’s massive scale while leveraging its parent, the leading alternative asset manager, Blackstone Inc. (BX). BXSL benefits from Blackstone Credits’ “strong backing and potential access to high-quality investment…
AerialPerspective Works The decision to make Blackstone Secured Lending (NYSE:BXSL) my second-largest business development company holding after Hercules Capital (HTGC) was driven by three core factors. The BDC’s net asset value per share has been rising, it continues to out-earn its quarterly base dividend, and underwriting quality remains extremely high with loans on non-accrual status…
shapecharge/E+ via Getty Images Logo (company website) Executive Summary Blue Owl Capital Corporation (NYSE:OBDC) emerges as a formidable force in the private credit and direct lending space, demonstrating remarkable growth and potential. The company is the largest publicly traded business development company, or BDC, by total assets ($12.9 billion) and is focused on senior secured…
WANAN YOSSINGKUM/iStock via Getty Images Introduction Carlyle Secured Lending (NASDAQ:CGBD) is a specialty finance company doing business as a Business Development Company (‘BDC’). The BDC is focusing on secured debt investments in the middle market companies (with a market capitalization of $25-100M). Carlyle focuses on companies whose debt would be rated below investment grade. As…
Dilok Klaisataporn If you are a passive income investor like me, you probably feel like a kid in the candy store right now. BDCs and REITs are selling at much lower NAV multiples again, creating an abundance of opportunities to invest capital in the battered BDC sector. One BDC that I have bought again on…
koto_feja/iStock via Getty Images We recently sold our position in Blackstone Secured Lending (NYSE:BXSL) after holding it for nearly one year and earning a strong profit on our position. While the ~11% dividend yield is certainly attractive and appears sustainable for at least the near term, we sold our position for three reasons that undermine…
porcorex Introduction Over the coming months, I will have a series of articles discussing how to build a balanced retirement portfolio using Business Development Companies (“BDCs”) common stocks currently yielding almost 12% and their safer notes – baby bonds/preferred shares with yield-to-maturities ranging from 6.5% to 9.0%. This article discusses Blackstone Secured Lending (NYSE:BXSL) currently…
In addition to the failed Lend program, Coinbase has attempted other lending services in the past. Coinbase has announced that it is working on a crypto lending service for institutional clients in the United States. A September 1 filing with the US Securities and Exchange Commission (SEC) shows that the company has already raised $57…
tadamichi Sixth Street Specialty Lending, Inc. (NYSE:TSLX) is a specialty finance focused business development company (or BDC), which provides a diversified set of financing options to small and medium size enterprises domiciled in the U.S. YCharts Looking back at the past 3-year period, TSLX has underperformed its peers, which have managed to benefit more from…
PM Images OppFi (NYSE:OPFI) has traded rangebound between $2.90 and $1.80 for the last 1 year, with the lending platform recently reporting fiscal 2023 second-quarter earnings that saw dual beats on revenue and earnings. OppFi reported revenue of $122.5 million set against a $276 million market cap that is a long way away from the…
Andrey Elkin/iStock via Getty Images Carlyle Secured Lending Inc (NASDAQ:CGBD) reported another set of solid quarterly results earlier this week. From these results it is clear that the BDC continued to perform well, and the dividend remains adequately covered by net investment income (NII). However, like many other BDCs, Carlyle Secured Lending saw a decline…
-slav- By James Knightley, Chief International Economist Banks tighten lending conditions across the board The Federal Reserve’s efforts to bring inflation under control appear to be bearing fruit based on recent core inflation prints coming in at 0.2% month-on-month, although the US remains some way off from the 2% year-on-year target. The Fed has hiked…