BDC Reporter's Marshi is 'quite optimistic,' even if there's a recession

Nicholas Marshi, editor of the BDC Reporter, says that business-development companies had a good first-quarter across the board, despite troubles across the broad market. After seven quarters of BDC's generally increasing net asset value per share, and while that growth decelerated during the first three months of 2022, Marshi says it was a "hinge quarter," where inflation, higher interest rates and more started to creep into results. He notes that business-development companies are poised to benefit from higher interest rates without suffering significantly higher credit losses in the process; as a result, he's bullish on BDCs now, even in the face of an economic slowdown.