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Business Development Companies

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Business Development Companies At A Glance

Business Development Companies Cover

Business Development Companies Brochure

Legal Update
3 January 2019
Mayer Brown Legal Update
With 2018 now in the rearview mirror, we summarize several of the encouraging regulatory developments for business development companies (“BDCs”) that occurred during 2018.
Legal Update
5 December 2018
Mayer Brown Legal Update
On November 30, 2018, the Securities and Exchange Commission (the “Commission”) adopted a new rule establishing a non-exclusive research report safe harbor (“Rule 139b”) for unaffiliated brokers or dealers that publish or distribute research reports regarding qualifying investment funds. The Commission took this action in furtherance of the mandate of the Fair Access to Investment Research Act of 2017 (the “FAIR Act”). The FAIR Act required that the Commission expand the Rule 139 safe harbor for research reports in order to cover research reports on investment funds.
Legal Update
13 September 2018
Mayer Brown Legal Update
The September 7, 2018 Golub Capital BDC no-action letter issued by the Division of Investment Management of the US Securities and Exchange Commission is certainly welcome relief for externally managed business development companies that use on-balance sheet collateralized loan obligation transactions as long-term financing for their small- and medium-enterprise loan portfolios.
Legal Update
29 August 2018
Mayer Brown Legal Update
On August 17, 2018, the US Securities and Exchange Commission (SEC) amended certain disclosure requirements that it determined to be redundant, duplicative, overlapping, outdated or superseded in light of other SEC disclosure requirements, US GAAP or changes in the information environment.
14 August 2018
Mayer Brown Book
Access our BDC Facts & Stats for a compendium of information regarding the business development companies (BDCs) that have taken measures to increase their use of leverage, the terms of BDC advisory agreements, and more.
Media Coverage
May 2018
Lexis Practice Advisor® Practice Note
In a bylined article, Capital Markets counsel Brian Hirshberg (New York) discusses trends related to business development companies.
Legal Update
23 March 2018
Mayer Brown Legal Update
President Trump has signed the Consolidated Appropriations Act of 2018 (also known as the “omnibus spending package”), which was passed by the House yesterday and the Senate earlier today and includes H.R. 4267, the Small Business Credit Availability Act. This Legal Update discusses how the Small Business Credit Availability Act would potentially increase the amount of permissible leverage that can be employed by a business development company (BDC).
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