KBDC News & Events

Kayne Anderson BDC announced the promotion of Frank Karl to President and the appointment of Andy Wedderburn-Maxwell as Senior Vice President. Frank Karl joined Kayne Anderson Capital Advisors, L.P., in 2013 and previously served as Senior Vice President of the Company since 2023. He has been a Managing Director at Kayne Anderson since 2021 and has been focused on Kayne Anderson's private credit strategies during his entire tenure at the firm. "Frank played a pivotal role in the formation of KBDC and was instrumental in leading our IPO process and the recent strategic investment into SG Credit. Having worked alongside him for more than a decade I've had the opportunity to witness his investment expertise, focus on lasting borrower partnerships, and strong alignment with our collaborative culture. I have full confidence that Frank and the broader Kayne Anderson leadership team, will continue to advance our growth strategy and deliver compelling risk-adjusted returns for our shareholders," said Doug Goodwillie, Co-CEO of KBDC.

"We delivered another solid quarter marked by strong origination activity, stable credit performance and a high-quality earnings mix. With nearly $300 million in new private credit investments at an average spread of 568bps over SOFR, we continue to see healthy deal flow in the core middle market, driven in-part by a recent pickup in M&A-related financing opportunities, which we believe bodes well for outlook in the near-term," said Doug Goodwillie, Co-Chief Executive Officer. "Despite broader market volatility and headlines around the private credit space, our target market broadly and portfolio specifically continue to demonstrate strong fundamentals. We remain defensively positioned with 94% of our portfolio invested in first-lien senior secured loans, lending at an average leverage level of 4.2x, lower than many of our peers, and continue to be pleased with credit performance of our loan book with a non-accrual rate of just 1.4%," said Ken Leonard, Co-Chief Executive Officer. "We believe KBDC is well-positioned to continue its relative outperformance while generating attractive, risk-adjusted returns through varying market cycles."