BDC Weekly Review: Foreboding Newsflow Haunts BDCs

We take a look at the action in business development companies through the second week of March and highlight some of the key themes we are watching. The BDC sector underperformed amid market volatility, with CION notably weak due to a -5.1% Q4 total NAV return. Median BDC valuations remain in distressed territory, only historically lower during recessions.