Public BDC
Private Credit glossary · Fund Structures, Returns & Economics
Definition
Business Development Company whose shares trade on a public exchange (e.g., NYSE, NASDAQ), giving retail access to middle-market loan exposure.
Public BDC in plain English
A Business Development Company (BDC) is a company whose whole job is lending money to small and mid-sized businesses that banks often overlook. A 'public' BDC is one whose own shares trade on a stock exchange like the NYSE or NASDAQ, so anyone with a brokerage account can buy in. That's the big deal: normally these private business loans are reserved for giant institutions, but a public BDC lets an ordinary person own a slice of that lending income — like buying a share of the neighborhood lender instead of needing millions to become one yourself.
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