Looking for attractive yields from the private sector? Business development companies offer retail investors exposure to the private sector. They invest in non-publicly traded companies in a variety of ways, either through debt or equity, or both. This stock had a good fiscal Q2 (period ending 9/30/20). Investment gains rose 4X, to $8.4M vs. $2.1M in fiscal Q1 (period ending 6/30/20), and NAV/Share rose ~3% to $15.36. Portfolio companies credit ratings improved - there were two upgrades, with no new non-accruals. Non-accrual ratings are only 1.7% of total portfolio. It is selling below NAV/share.
Capital Southwest Corporation (CSWC) is an internally-managed business development company, BDC, specializing in credit and private equity and venture capital investments in lower and middle market companies. It doesn't invest in startups, publicly-traded companies, real estate developments, project finance opportunities, oil and gas exploration businesses, troubled companies, turnarounds, and companies in which significant senior management is departing.
Source: Seeking Alpha
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