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BlackRock Capital Investment Corporation Reports Financial Results for the Quarter Ended December 31, 2020, Declares Quarterly Cash Distribution of $0.10 per Share
By
Staff
1 month ago
GAAP Net Investment Income (“NII”) of $0.10 per share, or $7.3 million, provided fourth quarter distribution coverage of 101%.
Net Asset Value (“NAV”) increased to $315.0 million, up 2.8% from $306.6 million; NAV per share decreased 0.2% to $4.23 per share from $4.24 per share, primarily due to an increase in total shares outstanding.
Transformational progress towards reducing junior capital and non-core exposure, successfully exiting $171 million of these investments during the fourth quarter and subsequent period. As a result, non-core holdings represent just 9%
1 of the total portfolio at fair value as of February 23, 2021.
Siemens' pivot toward the growth markets of industrial automation should make it quite attractive for investors. But that's hardly the only reason to buy it.
Tuesday, March 2, 2021
Private funds frequently negotiate for special rights when making an investment in a portfolio company, such as the right to appoint one or more board directors, voting rights, and liquidation preferences. Fund sponsors often focus solely on the positive aspects of these special rights, such as increased control, without considering fully other implications. As the Peter Parker principle reminds us, with great power comes great responsibility. In the fund context, sponsors should remember the portfolio company corollary: with greater control comes greater exposure to liability.
Nowhere is the tension between control and liability risk more evident than where sponsors designate their own members as board directors for portfolio companies. The appointment of sponsor personnel to board seats is commonplace. The reasons are simple; among other things, it allows the sponsor to protect the fund’s investment and many sponsors believe it enables them to d
BOCA RATON, Fla., March 01, 2021 (GLOBE NEWSWIRE) Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that it will report its fourth quarter 2020 financial results after the market closes on Monday, March 22, 2021. A conference call to discuss these results will be hosted by Barry Sloane, Chief Executive Officer, and Nicholas Leger, Chief Accounting Officer, the following day, Tuesday, March 23, 2021 at 8:30 am ET. The live conference call can be accessed by dialing (877) 303-6993 or (760) 666-3611. A live webcast of the call and the corresponding presentation will be available in the ‘Events & Presentations’ section of the Investor Relations portion of Newtek’s website at http://investor.newtekbusinessservices.com/events-and-presentations. A replay of the webcast with the corresponding presentation will be available on Newtek’s website shortly following the live pre