Kayne Anderson BDC, Inc.: insider trades · United States · SEC (Form 4)

About Kayne Anderson BDC, Inc.

Kayne Anderson BDC, Inc. (NYSE: KBDC) is a United States-based, publicly listed business development company focused on private credit and income-generating lending to middle-market borrowers. For French, Belgian, and Swiss investors looking at the U.S. listed credit space, KBDC sits in the specialized finance segment rather than in traditional banking. Its model is built around earning recurring income from senior secured corporate loans while maintaining a conservative risk profile relative to more aggressive credit vehicles. The company was formed as a Delaware corporation and commenced operations on February 5, 2021. Its common stock began trading on the New York Stock Exchange in May 2024 under the ticker KBDC. KBDC is externally managed by KA Credit Advisors, LLC, an affiliate of Kayne Anderson Capital Advisors, LP, which gives the vehicle access to the broader Kayne Anderson platform, sourcing capabilities, and credit underwriting expertise. That sponsorship is an important part of the investment case, because it helps support origination, portfolio construction, and monitoring in a competitive private credit market. From a business perspective, KBDC primarily targets first-lien senior secured loans to private middle-market companies. It also has a secondary focus on unitranche and split-lien loans. This mix places the company in a relatively defensive area of private credit, since first-lien exposures generally rank ahead of other debt in the capital structure and are usually associated with tighter downside protection than subordinated or equity-like investments. The strategy is therefore centered on current income, capital preservation, and selective exposure to sponsored middle-market credits. KBDC’s competitive position is driven by three elements: the Kayne Anderson platform, its focus on the middle-market segment, and the fact that it offers public-market investors access to private credit. In a crowded BDC universe, the quality of deal sourcing, underwriting discipline, portfolio diversification, and leverage management are key differentiators. Recent company disclosures indicate a portfolio that remains heavily weighted toward first-lien investments, consistent with a value-lending approach and a relatively prudent risk stance. Recent milestones have included the release of fourth-quarter 2025 results and the declaration of a $0.40 per share dividend for the first quarter of 2026. The company also reported first-quarter 2026 results, updated investors on net asset value, portfolio composition, and repurchase activity, and extended its share repurchase program through May 2027. Taken together, these developments reinforce KBDC’s positioning as a yield-oriented listed credit platform that combines dividend income, portfolio discipline, and capital-return tools for shareholders.