Kayne Anderson BDC, Inc.
Business
Kayne Anderson BDC, Inc. is an externally managed, closed-end business development company that invests primarily in first lien senior secured loans to private middle-market companies, with secondary focus on unitranche and split-lien debt. The company targets U.S. private companies with specified EBITDA ranges, structured with loan maturities typically of three to six years. It is managed by KA Credit Advisors, LLC, an affiliate of Kayne Anderson Capital Advisors, and distributes substantially all available earnings to shareholders on a quarterly or annual basis. The company qualifies as a regulated investment company for U.S. federal tax purposes.
Summary from 10-K filed 2026-03-02
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Dividend income | 1 | 1 | 571,000 | — | — | |
| Total Investment Income | 236 | 213 | 161 | 75 | 19 | |
| Management fees | 22 | 17 | 11 | 7 | 2 | |
| Incentive fees | 17 | 17 | 9 | 5 | 65,000 | |
| Interest expense | 76 | 62 | 52 | 20 | — | |
| Professional fees | 1 | 2 | 691,000 | 645,000 | 597,000 | |
| Directors fees | 638,000 | 621,000 | 611,000 | 460,000 | 307,000 | |
| Excise tax | 431,000 | 817,000 | 101,000 | — | — | |
| Other general and administrative expenses | 2 | 2 | 2 | 1 | 677,000 | |
| Total Expenses | 120 | 102 | 76 | 35 | 9 | |
| Less: Management fee waiver (Note 3) | −2 | −3 | — | — | — | |
| Less: Incentive fee waiver (Note 3) | — | −15 | — | — | — | |
| Net expenses | 118 | 84 | 76 | 35 | — | |
| Net Investment Income (Loss) | 118 | 129 | 85 | 40 | 10 | |
| Total net realized gains (losses) | −79,000 | 570,000 | −11 | 84,000 | 332,000 | |
| Total net change in unrealized gains (losses) | −22 | 3 | 3 | 6 | 12 | |
| Total realized and unrealized gains (losses) | −22 | 3 | −8 | 6 | — | |
| Income tax (expense) benefit on unrealized appreciation/depreciation on investments | −2 | −717,000 | — | — | — | |
| Net Increase in Net Assets Resulting from Operations | 94 | 132 | 77 | 46 | — | |
| Basic and diluted net investment income per common share (in Dollars per share) | 1.67 | 2.03 | 2.16 | 1.48 | 0.94 | |
| Diluted net investment income per common share (in Dollars per share) | 1.67 | 2.03 | 2.16 | 1.48 | 0.94 | |
| Basic net increase in net assets resulting from operations (in Dollars per share) | 1.33 | 2.07 | 1.96 | 1.68 | 2.08 | |
| Diluted net increase in net assets resulting from operations (in Dollars per share) | 1.33 | 2.07 | 1.96 | 1.68 | 2.08 | |
| Weighted Average Common Shares Outstanding - Basic (in Shares) | 70 | 64 | 39 | 27 | 11 | |
| Weighted Average Common Shares Outstanding - Diluted (in Shares) | 70 | 64 | 39 | 27 | 11 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Investments in money market funds (amortized cost of $25,409 and $48,683) | 25 | 49 | — | — | — | |
| Cash | 18 | 22 | — | — | — | |
| Deposits for investments | 13 | — | — | — | — | |
| Receivable for sales of investments | 7 | — | — | — | — | |
| Receivable for principal payments on investments | 308,000 | 540,000 | 104,000 | 111,000 | — | |
| Interest receivable | 24 | 15 | 13 | 10 | 2 | |
| Prepaid expenses and other assets | 291,000 | 958,000 | 319,000 | 347,000 | 148,000 | |
| Total Assets | 2,287 | 2,083 | 1,424 | 1,194 | 586 | |
| Corporate Credit Facility (Note 6) | 135 | 250 | 234 | 269 | — | |
| Unamortized Corporate Credit Facility issuance costs | −3 | −3 | −41,000 | −65,000 | −425,000 | |
| Revolving Funding Facility (Note 6) | 525 | 420 | 306 | 200 | — | |
| Unamortized Revolving Funding Facility issuance costs | −5 | −5 | −2 | −3 | — | |
| Revolving Funding Facility II (Note 6) | 195 | 113 | 70 | — | — | |
| Unamortized Revolving Funding Facility II issuance costs | −2 | −1 | −2 | — | — | |
| Notes (Note 6) | 275 | 75 | 75 | — | — | |
| Unamortized notes issuance costs | −3 | −643,000 | −851,000 | — | — | |
| Shares repurchased payable (Note 7) | 496,000 | — | — | — | — | |
| Distributions payable | 27 | 28 | 22 | 15 | — | |
| Management fee payable (Note 3) | 6 | 4 | 3 | 2 | 952,000 | |
| Incentive fee payable (Note 3) | 4 | — | 14 | 5 | — | |
| Accrued expenses and other liabilities | 22 | 15 | 12 | 7 | 3 | |
| Accrued excise tax expense | 475,000 | 825,000 | 101,000 | — | — | |
| Total Liabilities | 1,177 | 896 | 741 | 602 | 274 | |
| Commitments and contingencies (Note 8) | — | — | — | — | — | |
| Common Shares, $0.001 par value; 100,000,000 shares authorized; 67,998,184 and 71,059,689 as of December 31, 2025 and December 31, 2024, respectively, issued and outstanding | 68,000 | 71,000 | 42,000 | 36,000 | 19,000 | |
| Additional paid-in capital | 1,108 | 1,152 | 670 | — | — | |
| Total distributable earnings (deficit) | 2 | 34 | 13 | 17 | 11 | |
| Total Net Assets | 1,110 | 1,186 | 683 | 592 | 312 | |
| Total Liabilities and Net Assets | 2,287 | 2,083 | 1,424 | 1,194 | 586 | |
| Net Asset Value Per Common Share (in Dollars per share) | 16.32 | 16.7 | 16.42 | 16.5 | 16.22 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net accretion of discount on investments | −15 | −12 | −10 | −5 | −1 | |
| Sales (purchases) of investments in money market funds, net | 23 | −36 | −3 | — | — | |
| Purchases of portfolio investments | −774 | −984 | −391 | −718 | −647 | |
| Proceeds from sales of investments and principal repayments | 570 | 370 | 197 | 142 | 83 | |
| Paid-in-kind interest from portfolio investments | −9 | −3 | −2 | −151,000 | −173,000 | |
| Amortization of deferred financing cost | 4 | 4 | 3 | 2 | 260,000 | |
| (Increase)/decrease in deposits for investments | −13 | — | — | — | — | |
| (Increase)/decrease in receivable for sales of investments | −7 | — | — | — | — | |
| (Increase)/decrease in interest and dividends receivable | −6 | −2 | −2 | −8 | −2 | |
| (Increase)/decrease in receivable for principal payments on investments | 232,000 | −436,000 | 7,000 | −111,000 | — | |
| Increase/(decrease) in accrued excise tax expense | −350,000 | 724,000 | 101,000 | — | — | |
| (Increase)/decrease in prepaid expenses and other assets | 667,000 | −639,000 | 28,000 | — | — | |
| Increase/(decrease) in payable for investments purchased | — | — | −956,000 | 956,000 | — | |
| Increase/(decrease) in management fees payable | 2 | 716,000 | 581,000 | 1 | — | |
| Increase/(decrease) in incentive fee payable | 4 | −14 | 9 | 5 | — | |
| Increase/(decrease) in accrued expenses and other liabilities | 7 | 3 | 5 | 5 | — | |
| Net cash used in operating activities | −99 | −545 | −110 | −542 | −559 | |
| Borrowings/(payments) on Corporate Credit Facility, net | −115 | 16 | −35 | 269 | — | |
| Borrowings on Revolving Funding Facility, net | 105 | 114 | 106 | 200 | — | |
| Borrowings on Revolving Funding Facility II, net | 82 | 43 | 70 | — | — | |
| Borrowings/(payments) on Subscription Credit Agreement, net | — | −11 | −97 | 3 | 105 | |
| Payments of debt issuance costs | −7 | −7 | −4 | −7 | −932,000 | |
| Payable for shares repurchased | 496,000 | — | — | — | — | |
| Dividends paid in cash | −123 | −102 | −70 | — | — | |
| Proceeds from issuance of common shares | — | 481 | 91 | 268 | 300 | |
| Proceeds from issuance of Notes | 200 | — | 75 | — | — | |
| Repurchase of common shares | −48 | −2 | — | — | — | |
| Net cash provided by financing activities | 94 | 533 | 136 | 548 | 561 | |
| Net increase (decrease) in cash | −4 | −12 | 26 | 6 | 2 | |
| Interest paid during the period | 68 | 55 | 44 | 14 | 2 | |
| Non-cash financing activities not included herein consisted of reinvestment of dividends | 4 | 4 | 5 | 6 | 1 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Kayne Anderson BDC, Inc.'s CIK number?
Kayne Anderson BDC, Inc.'s SEC CIK number is 0001747172 (1747172). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Kayne Anderson BDC, Inc.'s SEC filings?
All of Kayne Anderson BDC, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Kayne Anderson BDC, Inc. last report earnings?
Kayne Anderson BDC, Inc. (KBDC) most recently filed an earnings 8-K with the SEC on May 11, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001213900-26-054511). This is Kayne Anderson BDC, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Kayne Anderson BDC, Inc.'s most recent earnings 8-K?
Kayne Anderson BDC, Inc.'s latest earnings 8-K (Item 2.02) was filed May 11, 2026 under accession 0001213900-26-054511. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Kayne Anderson BDC, Inc.'s latest earnings 8-K →
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