Kayne Anderson BDC, Inc. Commitments Disclosure
Note 8. Commitments and Contingencies
The Company had an aggregate of $186,282 and $147,928, respectively, of unfunded commitments to provide debt financing to its portfolio companies as of December 31, 2024 and December 31, 2023. Such commitments are generally subject to the satisfaction of certain financial and nonfinancial covenants and certain operational metrics. The commitment period for these amounts may be shorter than the maturity date if drawn or funded. These commitments are not reflected in the Company’s consolidated statement of assets and liabilities. Consequently, such commitments result in an element of credit risk in excess of the amount recognized in the Company’s consolidated statement of assets and liabilities.
A summary of the composition of the unfunded commitments as of December 31, 2024 and 2023 is shown in the table below.
| As of | As of | |||||||
| December 31, 2024 | December 31, 2023 | |||||||
| Alcami Corporation (Alcami) | $ | 1,447 | $ | 2,543 | ||||
| Allcat Claims Service, LLC | 10,803 | 5,370 | ||||||
| Allentown, LLC | 663 | 785 | ||||||
| American Equipment Holdings LLC | 2,922 | 483 | ||||||
| American Soccer Company, Incorporated (SCORE) | 2,601 | 2,601 | ||||||
| Arborworks Acquisition LLC | 1,792 | 1,872 | ||||||
| MRC Keystone Acquisition LLC (Automated Handing Solutions) | 3,864 | |||||||
| Basel U.S. Acquisition Co., Inc. (IAC) | 2,930 | 1,622 | ||||||
| BCI Burke Holding Corp. | 4,659 | |||||||
| OAO Acquisitions, Inc. (BearCom) | 2,482 | 6,982 | ||||||
| Bloomington Holdco, LLC (BW Fusion) | 6,421 | |||||||
| BLP Buyer, Inc. (Bishop Lifting Products) | 2,878 | 6,548 | ||||||
| BR PJK Produce, LLC (Keany) | 2,870 | |||||||
| Carton Packaging Buyer, Inc. | 2,848 | 2,848 | ||||||
| CCFF Buyer, Inc (California Custom Fruits & Flavors, LLC) | 9,812 | |||||||
| CGI Automated Manufacturing, LLC | 2,242 | 2,390 | ||||||
| City Line Distributors, LLC | 2,530 | 5,322 | ||||||
| Curio Brands, LLC | 1,719 | 1,719 | ||||||
| DISA Holdings Corp. (DISA) | 3,331 | 6,142 | ||||||
| Diverzify Intermediate, LLC | 3,155 | |||||||
| DRS Holdings III, Inc. (Dr. Scholl’s) | 310 | 310 | ||||||
| Eastern Wholesale Fence | 198 | 1,332 | ||||||
| EIS Legacy, LLC | 6,922 | |||||||
| Energy Acquisition LP (Electrical Components International, Inc. - ECI) | 1,442 | |||||||
| Envirotech Services, LLC | 6,746 | |||||||
| Eppinger Technologies, LLC | 1,145 | 1,450 | ||||||
| FCA, LLC (FCA Packaging) | 2,670 | |||||||
| Fastener Distribution Holdings, LLC | 7,502 | |||||||
| Foundation Consumer Brands | 577 | 577 | ||||||
| Fralock Buyer LLC | 300 | |||||||
| Guardian Dentistry Partners | 773 | |||||||
| Guided Practice Solutions: Dental, LLC (GPS) | 10,299 | |||||||
| Gulf Pacific Holdings, LLC | 1,798 | 10,153 | ||||||
| Gusmer Enterprises, Inc. | 3,676 | 3,676 | ||||||
| Home Brands Group Holdings, Inc. (ReBath) | 2,099 | 2,099 | ||||||
| I.D. Images Acquisition, LLC | 2,020 | 2,020 | ||||||
| IF&P Foods, LLC (FreshEdge) | 2,813 | 1,656 | ||||||
| Improving Acquisition LLC | 1,672 | 1,672 | ||||||
| Krayden Holdings, Inc. | 5,438 | 5,438 | ||||||
| Superior Intermediate LLC (Landmark Structures) | 10,006 | |||||||
| Light Wave Dental Management LLC | 4,171 | 827 | ||||||
| LSL Industries, LLC (LSL Healthcare) | 5,224 | 15,224 | ||||||
| MacNeill Pride Group | 1,798 | 3,877 | ||||||
| ML Buyer, LLC (Mama Lycha Foods, LLC) | 3,991 | |||||||
| NMA Holdings, LLC (Neuromonitoring Associates) | 7,459 | |||||||
| Phoenix YW Buyer, Inc. (Elida Beauty) | 1,960 | |||||||
| Pixel Intermediate, LLC | 1,482 | |||||||
| PMFC Holding, LLC | 137 | |||||||
| Redwood MSO, LLC | 2,784 | |||||||
| Refocus Management Services, LLC | 6,269 | |||||||
| Regiment Security Partners LLC | 104 | 104 | ||||||
| The Robinette Company | 5,047 | |||||||
| Ruff Roofers Buyer, LLC | 7,138 | 10,966 | ||||||
| SGA Dental Partners Holdings, LLC | 5,087 | |||||||
| Siegel Egg Co., LLC | 501 | 537 | ||||||
| Silk Holdings III Corp. (Suave) | 6,667 | |||||||
| Speedstar Holding LLC | 666 | |||||||
| Sundance Holdings Group, LLC | 439 | |||||||
| Tapco Buyer LLC | 9,435 | |||||||
| Trademark Global LLC | 480 | 480 | ||||||
| US Anchors Group, Inc. (Mechanical Plastics Corp.) | 2,819 | |||||||
| United Safety & Survivability Corporation (USSC) | 469 | |||||||
| USALCO, LLC | 1,494 | |||||||
| Vehicle Accessories, Inc. | 2,064 | 1,671 | ||||||
| Workholding US Holdings, LLC (Forkardt Hardinge) | 3,144 | |||||||
| Worldwide Produce Acquisition, LLC | 424 | 1,286 | ||||||
| Total unfunded commitments | $ | 186,282 | $ | 147,928 | ||||
From time to time, the Company may become a party to certain legal proceedings incidental to the normal course of its business. As of December 31, 2024 and 2023, management was not aware of any material pending or threatened litigation that would require accounting recognition or financial statement disclosure.
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | Mar 3, 2025 | Showing above |
| 2023 | Feb 29, 2024 | |
About Commitments Disclosures
Commitments and contingencies disclosures catalog a company's off-balance-sheet obligations and legal exposures — purchase commitments, guarantee arrangements, pending litigation, and regulatory proceedings. These items represent potential future cash outflows that may not appear as liabilities on the balance sheet until they become probable and estimable.
Key signals: litigation reserves and disclosed loss ranges quantify management's estimate of legal exposure, but unquantified "reasonably possible" losses often represent the larger risk. Watch for changes in language around pending cases — shifts from "remote" to "reasonably possible" or increases in estimated loss ranges signal deteriorating outcomes. Unconditional purchase obligations and take-or-pay contracts create fixed cost structures that reduce operational flexibility. Guarantee arrangements for subsidiaries or joint ventures can create cascading obligations. Compare the total commitment schedule against projected free cash flow to assess whether the company can meet its obligations without additional financing.