Barings BDC Inc

Barings BDC, Inc. (NYSE: BBDC) is a publicly traded, externally managed business development company that invests primarily in senior secured loans to middle-market companies across a wide range of industries. The company operates under the Investment Company Act of 1940 and is managed by Barings, a global asset manager with $502 billion in assets under management that is a subsidiary of MassMutual with a minority investment from MS&AD. Barings BDC generates income through interest on debt investments, dividends from equity stakes, fee income, and payment-in-kind interest. The company maintains a diversified portfolio including non-control/non-affiliate investments, affiliate investments, and control investments, and participates in joint ventures. As of June 30, 2026, the investment portfolio at fair value was approximately $2.46 billion with a weighted average yield on performing debt investments of 9.4%. The company finances its operations through a senior secured credit facility and unsecured notes. Updated Aug 5, 2026