BCP Investment Corp
bcpinvestmentcorporation.comBCP Investment Corp (NASDAQ: BCIC) is a business development company (BDC) that originates, structures, and invests in debt and equity securities of middle-market companies. It makes money primarily through interest income on secured term loans, bonds, notes, and mezzanine debt held in its portfolio, supplemented by dividend and fee income from equity and joint venture positions. BCIC is externally managed by Sierra Crest Investment Management LLC, an affiliate of BC Partners LLP, under an Investment Advisory Agreement dated April 1, 2019. As of December 31, 2025, the total investment portfolio had a fair value of $500,975 thousand, with first lien debt representing 68.7% of the portfolio at fair value, second lien debt 8.4%, subordinated debt 5.1%, joint ventures 9.6%, and equity 7.8%. The company is a non-diversified closed-end investment company regulated under the Investment Company Act of 1940.
Products & Services
First lien and senior secured term loans, second lien loans, subordinated and mezzanine debt, collateralized loan obligations (CLOs), revolving credit facilities, equity co-investments, joint ventures, derivatives, and warrants. Portfolio companies span sectors including IT services, software, health care, financial services, media, specialty retail, and consumer staples, as of December 31, 2025.
Revenue Model
Interest income on floating-rate secured loans (primarily SOFR-plus spreads), payment-in-kind (PIK) interest on select positions, dividend income from equity and joint venture holdings, and management and incentive fees paid to the external adviser reduce net investment income. The company carries fixed-rate unsecured notes as liabilities, including 4.875% Notes, 7.50% Notes due 2028, and 7.75% Notes due 2030.
Customers & Markets
Middle-market borrowers across diversified industries. Portfolio industry exposures as of December 31, 2025 include IT services, software, health care providers and services, financial services, media, consumer staples distribution and retail, professional services, household products, trading companies and distributors, machinery, household durables, capital markets, health care equipment and supplies, metals and mining, and others.
Financial Snapshot
Loading...
