NT BDC Registrations and Launches

This table tracks the pipeline of newly launched non-traded BDCs. Registration Date refers to the date that a fund files its registrations statement. Effective Date/Launch Date for public offerings is the date on which the SEC declares the fund’s registration statement effective. For private offerings it is the date on which the fund files form N-54, indicating election to be treated as a BDC. To download the full list, select Show “All Entries” from the pulldown menu. You can also download the table in excel or PDF format.

To access a list of all currently active NT BDCs, along with their current AUM and net assets, click here. To access historical AUM data, along with detailed competitive intelligence on NT BDCs and NT REITs, sign up for Alternative.Investments Pro.

wdt_ID Fund Offering Type Term Registration Date Effective Date/Launch Date Status
1 KKR FS Income Trust Private Finite 03/31/2023 03/31/2023 Active
2 SLR Private Credit BDC II LLC Private Finite 02/01/2023 02/01/2023 Active
3 Investcorp US Institutional Private Credit Fund Private Finite 01/18/2023 01/18/2023 Active
4 Kennedy Lewis Capital Co Private Finite 12/29/2022 12/29/2022 Active
5 OHA Senior Private Lending Fund (U) LLC Private Finite 12/02/2022 12/02/2022 Active
6 Crescent Private Credit Income Corp Public Perpetual 12/01/2022 Pending Effectiveness
7 AG Twin Brook Capital Income Fund Public Perpetual 11/16/2022 12/15/2022 Active
8 PGIM Private Credit Fund Public Perpetual 11/01/2022 05/05/2023 Active
9 Phillip Street Middle Market Lending Fund LLC Private Finite 10/21/2022 10/21/2022 Active
10 Fidelity Private Credit Fund Public Perpetual 09/06/2022 01/09/2023 Active
11 TCW Star Direct Lending LLC Private Finite 09/01/2022 09/01/2022 Active
12 Ares Strategic Income Fund Public Perpetual 08/08/2022 04/24/2023 Active
13 Brightwood Capital Corp Private Finite 07/29/2022 07/29/2022 Active
14 T. Rowe Price OHA Private Credit Fund Public Perpetual 07/28/2022 Pending Effectiveness
15 PIMCO Capital Solutions BDC Corp Private Finite 07/11/2022 07/11/2022 Active
16 Sixth Street Lending Partners Private Finite 06/28/2022 06/28/2022 Active
17 Varagon Capital Corp. Private Finite 06/02/2022 06/02/2022 Active
18 New Mountain Guardian IV BDC L.L.C. Private Finite 05/06/2022 05/06/2022 Active
19 Wellings Real Estate Income Fund Private Finite 05/03/2022 05/03/2022 Active
20 AFC BDC Inc. Private Finite 04/29/2022 04/29/2022 Converted
21 AGTB Private BDC Private Finite 04/18/2022 04/18/2022 Merged
22 Redwood Enhanced Income Corp. Private Finite 04/01/2022 04/01/2022 Active
23 Golub Capital Direct Lending Unlevered Corp Private Finite 03/31/2022 03/31/2022 Active
24 Golub Capital BDC 4 Inc. Private Finite 03/31/2022 03/31/2022 Active
25 Nuveen Churchill Private Capital Income Fund Public Perpetual 02/16/2022 07/22/2022 Active
Fund Offering Type Term Registration Date Effective Date/Launch Date Status