BDC

“Some evergreen structures have what's called this sort of semi-liquid character, so that every quarter, the company that's running this structure will say, hey, if five percent of the total investors redeem, we'll meet that, but if it's more than that, we won'…”

“There's some obvious ones where you see, let's just say public BDCs that own the same club deal, the same loan. One BDC versus another, or two or three versus a fourth BDC, there's a massive variance, in a second lien especially, where you're like, wait, the f…”

“Literally putting in every loan into Claude or ChatGBT to figure out what do they think it is. There has been some mislabeling of concentrations.”

“One of the issues with private credit is all the returns are predicated at leverage at the fund level. You need fund level leverage to get anyone excited about it. If anyone came out with a unlevered BDC, it would be a yawn, especially after fees.”

“BDCs originally were created through a congressional act in 1980 as a way to bring capital into private businesses in the United States. The original BDCs back then was more of a venture capital model. It was really only after the great financial crisis that B…”

“I had this debate for years with financial advisors where I'd say, just buy the BDC. Well, my clients don't like it when the stock goes up and down and they don't like the correlation to the market and the volatility. And so we'll do what we do. And stock goes…”

“We've actually seen one or two of our competitors queue credit capital over the last year or two.”

“Yeah, so we raised it was a pre-seed round well, we, well, we called it a pre-seed round afterwards 800 K with Business Angels and BDC, actually, BDC Super Seed Fund.”

“The most interesting trend out there that we have to think about is the different versions of permanent capital, and that can be in a waterfront. There's a version of permanent capital that could be partnering or doing something with an insurance company that …”

“I just will have a lot of niche strategies that I leave a nickel in so I can push in a dollar later. So for example, I keep a nickel in Fallen Angels. I keep a nickel in these closed-in funds. I keep a nickel in BDCs because when you get a banana peel moment, …”

“So the financial institutions basically bought half the shares Andre ad. Yep. And then for the other half, they basically lent money to the company, but it was only for a second. Sign in a paper, and that money then went to Andre. That would allow us, the comp…”

“More, more low double digit. It's pretty high. I'd say around 10 variable, but it goes with The advantage we had in increasing our percentage in the business.”

“Last year they gave us a no, no interest loan. So we just have to pay monthly.”

“We've gone maybe 250 K, 300 K of funding through these two, and then a couple of hundred grand through banks.”

“Eight and a half points.”

“We had raised about six, 650,000. And we raised it from XDL capital, which is a local VC in Toronto, as well as BDC, which is kind of like a government BC out in Canada.”