A Business Development Company (BDC) is a type of closed end investment company that invests primarily in small and medium size businesses. A BDC may invest in either debt or equity, although most active BDCs in the market today focus on debt. As a result, BDCs have become important components of many investors income portfolios. Non-traded BDCs conduct continuous capital raises, and do not trade on an exchange. This page includes a full list of all active non-traded BDCs with financial information as of the most recent SEC filings. You can sort the list by the amount of total assets or net assets. Additionally, you can download the table in Excel, CSV, or PDF format.
| Fund | Type | Term | Total Assets (MRQ) | Net Assets (MRQ) |
|---|---|---|---|---|
| Blackstone Private Credit Fund | Public NT BDC | Perpetual-Life | 52,335,219,000 | 22,378,576,000 |
| Owl Rock Core Income Corp | Public NT BDC | Perpetual-Life | 11,036,362,000 | 5,249,753,000 |
| Owl Rock Technology Finance Corp. | Private NT BDC | Finite | 6,663,400,000 | 3,387,400,000 |
| HPS Corporate Lending Fund | Public NT BDC | Perpetual-Life | 5,873,029,000 | 3,455,272,000 |
| Apollo Debt Solutions BDC | Public NT BDC | Perpetual-Life | 4,262,895,000 | 1,958,873,000 |
| Owl Rock Capital Corp III | Private NT BDC | Finite | 3,552,700,000 | 1,813,900,000 |
| Morgan Stanley Direct Lending Fund | Private NT BDC | Finite | 2,986,122,000 | 1,397,305,000 |
| Franklin BSP Lending Corp | Public NT BDC | Finite | 2,979,878,000 | 1,665,457,000 |
| Goldman Sachs Private Middle Market Credit II LLC | Private NT BDC | Finite | 2,850,011,000 | 1,240,510,000 |
| FS Energy & Power Fund | Public NT BDC | Finite | 2,524,928,000 | 1,731,841,000 |
| Owl Rock Technology Finance Corp. II | Private NT BDC | Finite | 2,513,832,000 | 1,224,578,000 |
| Golub Capital BDC 3, Inc. | Private NT BDC | Finite | 2,505,320,000 | 1,287,336,000 |
| Owl Rock Capital Corp II | Public NT BDC | Finite | 2,326,450,000 | 1,296,261,000 |
| Barings Private Credit Corp | Private NT BDC | Perpetual-Life | 2,291,912,000 | 1,087,303,000 |
| Carlyle Credit Solutions, Inc. | Private NT BDC | Finite | 2,198,162,000 | 1,151,501,000 |
| New Mountain Guardian III BDC, LLC | Private NT BDC | Finite | 2,095,201,000 | 1,091,425,000 |
| North Haven Private Income Fund LLC | Private NT BDC | Perpetual-Life | 2,075,223,000 | 1,266,213,000 |
| Owl Rock Technology Income Corp. | Public NT BDC | Perpetual-Life | 2,043,570,000 | 989,497,000 |
| Stone Point Credit Corp | Private NT BDC | Finite | 1,706,525,885 | 777,318,603 |
| Monroe Capital Income Plus Corp | Private NT BDC | Finite | 1,544,642,000 | 754,916,000 |
| Barings Capital Investment Corp | Private NT BDC | Finite | 1,319,268,000 | 602,099,000 |
| TCW Direct Lending VII LLC | Private NT BDC | Finite | 1,288,627,000 | 787,991,000 |
| T Series Middle Market Loan Fund LLC | Private NT BDC | Finite | 1,285,290,000 | 582,083,000 |
| Nuveen Churchill Direct Lending Corp. | Private NT BDC | Finite | 1,253,959,000 | 524,957,000 |
| NMF SLF I, Inc. | Private NT BDC | Finite | 1,196,572,000 | 759,075,000 |
| Kayne Anderson BDC, Inc. | Private NT BDC | Finite | 1,194,394,000 | 592,041,000 |
| AB Private Credit Investors Corp | Private NT BDC | Finite | 1,141,990,668 | 437,873,357 |
| SL Investment Corp. | Private NT BDC | Finite | 1,135,857,000 | 516,232,000 |
| MSC Income Fund, Inc. | Public NT BDC | Finite | 1,107,164,000 | 609,665,000 |
| Sixth Street Lending Partners | Private NT BDC | Finite | 1,091,712,000 | 546,711,000 |
| Palmer Square Capital BDC Inc. | Private NT BDC | Finite | 1,057,453,028 | 363,443,482 |
| TCW Direct Lending LLC | Private NT BDC | Finite | 1,011,724,000 | 386,800,000 |
| MSD Investment, LLC | Private NT BDC | Finite | 957,236,000 | 404,611,000 |
| Franklin BSP Capital Corporation | Private NT BDC | Finite | 816,183,000 | 372,421,000 |
| Oaktree Strategic Credit Fund | Public NT BDC | Perpetual-Life | 720,977,000 | 493,455,000 |
| Varagon Capital Corp. | Private NT BDC | Finite | 698,957,000 | 421,299,000 |
| AGTB Private BDC | Private NT BDC | Finite | 616,233,000 | 305,200,000 |
| Goldman Sachs Private Middle Market Credit LLC | Private NT BDC | Finite | 602,568,000 | 403,611,000 |
| Oaktree Strategic Income II, Inc. | Private NT BDC | Finite | 597,639,104 | 321,922,662 |
| SCP Private Credit Income BDC LLC | Private NT BDC | Finite | 553,261,000 | 196,254,000 |
| Venture Lending & Leasing IX, Inc. | Private NT BDC | Finite | 517,197,097 | 268,212,295 |
| TriplePoint Private Venture Credit Inc. | Private NT BDC | Finite | 480,585,000 | 284,635,000 |
| Audax Credit BDC Inc | Private NT BDC | Finite | 451,096,044 | 426,911,103 |
| Onex Falcon Direct Lending BDC Fund | Private NT BDC | Finite | 450,183,283 | 295,095,635 |
| TCW Direct Lending VIII LLC | Private NT BDC | Finite | 442,625,000 | 184,793,000 |
| Nuveen Churchill Private Capital Income Fund | Public NT BDC | Perpetual-Life | 422,025,000 | 260,301,000 |
| Commonwealth Credit Partners BDC I, Inc. | Private NT BDC | Finite | 366,218,000 | 364,508,000 |
| WTI Fund X, Inc. | Private NT BDC | Finite | 283,447,142 | 113,730,798 |
| Redwood Enhanced Income Corp. | Private NT BDC | Finite | 256,911,000 | 115,883,000 |
| Goldman Sachs Middle Market Lending LLC II | Private NT BDC | Finite | 256,151,000 | 171,656,000 |
| Star Mountain Lower Middle-Market Capital Corp | Private NT BDC | Finite | 254,525,885 | 112,317,046 |
| GOLUB CAPITAL DIRECT LENDING CORP | Private NT BDC | Finite | 249,753,000 | 151,291,000 |
| BlackRock Private Credit Fund | Public NT BDC | Perpetual-Life | 228,539,001 | 117,685,277 |
| BlackRock Direct Lending Corp. | Private NT BDC | Finite | 218,654,587 | 175,109,476 |
| Carlyle Secured Lending III | Private NT BDC | Finite | 213,176,963 | 109,672,287 |
| AG Twin Brook BDC, Inc. | Private NT BDC | Finite | 201,287,000 | 197,606,000 |
| Stellus Private Credit BDC | Private NT BDC | Finite | 174,394,504 | 80,262,957 |
| Golub Capital BDC 4 Inc. | Private NT BDC | Finite | 171,681,940 | 87,181,400 |
| Steele Creek Capital Corp | Private NT BDC | Finite | 145,339,000 | 48,960,000 |
| Muzinich BDC, Inc. | Private NT BDC | Finite | 139,106,667 | 103,602,889 |
| New Mountain Guardian IV BDC L.L.C. | Private NT BDC | Finite | 129,960,000 | 73,517,000 |
| BC Partners Lending Corp | Private NT BDC | Finite | 109,473,000 | 48,772,000 |
| Kayne DL 2021 | Private NT BDC | Finite | 109,122,000 | 105,908,000 |
| Golub Capital Direct Lending Unlevered Corp | Private NT BDC | Finite | 80,442,602 | 79,435,574 |
| SLR HC BDC LLC | Private NT BDC | Finite | 77,997,000 | 19,348,000 |
| Lafayette Square USA Inc. | Private NT BDC | Finite | 70,348,000 | 51,527,000 |
| Guggenheim Credit Income Fund | Public NT BDC | Finite | 62,145,000 | 61,273,000 |
| NexPoint Capital, Inc. | Public NT BDC | Finite | 55,918,505 | 54,423,194 |
| Hancock Park Corporate Income, Inc | Private NT BDC | Finite | 53,845,302 | 23,256,195 |
| Venture Lending & Leasing VIII, Inc. | Private NT BDC | Finite | 40,531,890 | 39,993,758 |
| Prospect Floating Rate & Alternative Income Fund, Inc. | Public NT BDC | Finite | 33,814,136 | 14,767,963 |
| Wellings Real Estate Income Fund | Private NT BDC | Finite | 18,931,971 | 18,538,360 |
| StHealth Capital Investment Corp | Public NT BDC | Finite | 2,665,000 | 2,156,000 |
| Silver Point Specialty Lending Fund | Private NT BDC | Finite | 0 | 0 |
| Fund | Type | Term | Total Assets (MRQ) | Net Assets (MRQ) |