Kayne Anderson BDC (KBDC)
Provides middle-market private credit mainly through first-lien senior secured loans.
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An externally managed BDC investing in private middle-market companies, primarily through first-lien senior secured loans. KA Credit Advisors manages the portfolio within Kayne Anderson's private-credit platform, with unitranche and split-lien loans as secondary focuses.
An externally managed BDC investing in private middle-market companies. Its portfolio centers on first-lien senior secured loans, while unitranche and split-lien loans are secondary focuses.
KA Credit Advisors, LLC serves as investment adviser and operates within Kayne Anderson Private Credit. The BDC has no direct employees; the Adviser and Administrator manage daily investment operations, and Co-CEOs Douglas L. Goodwillie and Kenneth B. Leonard jointly oversee day-to-day portfolio management.
Structured as a closed-end, non-diversified management investment company, it elected BDC status under the Investment Company Act. Common stock began NYSE trading in 2024 after a pre-IPO private-placement period.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 1, 2026 | UBS | Reiterate | Rating: —Target: $15 | Target: $13.50 |
| Jun 12, 2026 | Wells Fargo | Downgrade | Target: $15 | Target: $14 |
| May 13, 2026 | Wells Fargo | Reiterate | Rating: —Target: — | Target: $15 |
| Oct 14, 2025 | UBS | Reiterate | Rating: —Target: — | Target: $15 |
| Oct 6, 2025 | Keefe, Bruyette & Woods | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $14.52B · Total debt $1.22B · Total assets $2.34B · Shareholders' equity $1.06B
- Revenue
- $43.5M
- Operating income
- $30.3M
- Net income
- $10.7M
HistoryDividendAnnual yieldUpcoming
| Institutions | 48.42% | 31.98M shares | |
|---|---|---|---|
| 93 holders · as of Jun 30, 2026 | |||
| Insiders | 0.64% | 425.2K shares | |
| 5 holders · as of Sep 16, 2026 | |||
| Other | 50.94% | 33.63M shares | |
| remainder | |||
66.04M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Koch, Inc.Institution | 15.88% | 10.49M | as of Jun 30, 2026 |
State of Michigan Retirement SystemInstitution | 9.94% | 6.57M | as of Jun 30, 2026 |
HF Capital, LLCInstitution | 3.36% | 2.22M | as of Jun 30, 2026 |
Pathstone Holdings, LLCInstitution | 1.61% | 1.06M | as of Jun 30, 2026 |
Russell Investments Group, Ltd.Institution | 1.21% | 796,324 | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 16, 2026 | James L. Robo | director | +340,000 | $13.04 |
| Sep 14, 2026 | James L. Robo | director | +60,000 | $13.02 |
| May 28, 2025 | James L. Robo | director | +121,686 | $15.84 |
| Mar 6, 2026 | George E. Jr Marucci | director | +9,000 | $13.74 |
| Mar 4, 2026 | George E. Jr Marucci | director | +1,000 | $13.96 |
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- Golub Capital BDC
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First-lien-focused BDC lending to private U.S. companies
- FS KKR Capital
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- Sixth Street Specialty Lending
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Kayne Anderson BDC | $13.06 | −0.61% | $871.8M | 12.1 | 8.4 | 4.4 | +26.7% |
| Ares Capital | $19.20 | −0.85% | $13.90B | 14.3 | 10.0 | 6.0 | +32.6% |
| Blue Owl Capital | $10.96 | −1.66% | $5.53B | 19.9 | 8.5 | 3.9 | −20.8% |
| Golub Capital BDC | $12.44 | −0.76% | $3.26B | 22.8 | 9.7 | 4.6 | −14.2% |
| Blackstone Secured Lending Fund | $24.61 | −0.44% | $5.75B | 19.5 | 9.4 | 5.4 | +25.9% |
| FS KKR Capital | $11.16 | −1.33% | $3.17B | — | 7.1 | 3.3 | +11.5% |
| Sixth Street Specialty Lending | $18.04 | −1.69% | $1.74B | 19.3 | 10.1 | 5.1 | −13.0% |
| Median | 19.5 | 9.5 | 4.8 | −0.8% |