-- Prospect invites individual and institutional investors to login at VirtualInvestorConferences.com
NEW YORK, Aug. 12, 2015 /PRNewswire/ -- Prospect Capital Management L.P. ("Prospect"), today announced that their August 6 presentation by Joseph Labita, Investment Professional, is available for on-demand viewing at VirtualInvestorConferences.com.
VIEW NOW: http://tinyurl.com/aug6-post
In this session, Mr. Labita provided an overview of the public Business Development Company ("BDC") sector, its recent performance and the relative value that may be present within.
BDCs are a type of closed-end fund that have grown significantly in recent years. Created by Congress in 1980 to spur investment in small-to-medium sized companies, the sector has grown to currently include 53 publicly traded BDCs which trade at an aggregate market cap of over $32 billion and have a median distribution yield of over 10.50%.
BDCs generally make investments in U.S.-based small-to-medium sized private companies in the form of long-term debt or equity, as well as investments in thinly traded small cap public companies, consistent with the legislation's objective of encouraging capital flows to companies that had traditionally been underserved by banks and the capital markets. BDCs are typically structured as a pass-through entity for tax purposes.
BDCs continue to be a highly attractive source of yield, total return, liquidity and secured credit exposure; in addition, Prospect believes the traded BDC market continues to present a unique opportunity for significant upside via price appreciation. As manager of Prospect Capital Corporation (Nasdaq: PSEC), the largest multi-line BDC by market capitalization, Prospect remains deeply ensconced in each of the core businesses of the BDC sector as well as the performance of BDC securities in public markets.
Prospect's presentation will be available 24/7 for 90 days. Investors and advisors may view shareholder materials from the "virtual trade booth" for the next three weeks.
Learn more about the event: http://VirtualInvestorConferences.com
About Prospect Capital Management L.P.
Prospect Capital Management L.P. (www.prospectcapitalmanagement.com) is an established alternative credit asset manager with a primary focus on investing in private middle-market companies. Prospect specializes in providing a full range of commercial financing solutions up and down the capital structure.
For over two decades, Prospect has been a trusted and valuable relationship to hundreds of management teams, private equity sponsors, entrepreneurs, financial intermediaries and institutions, and collateral managers. Prospect manages approximately $7.3 billion of capital (including undrawn credit facilities, as of March 31, 2015) across a broad set of industries and companies, primarily located in the United States.
Prospect is the investment advisor for Prospect Capital Corporation (NASDAQ: PSEC), one of the largest business development companies in the industry. Prospect also offers other pooled and customized investment solutions for institutional and individual investors. Prospect's mission includes delivering attractive risk-adjusted yields to investors with an emphasis on a broad portfolio, proprietary investment origination, and a disciplined, rigorous credit process. Prospect's proven track record through multiple economic cycles demonstrates its deep commitment to capital preservation, current cash returns, and total returns.
Prospect employs approximately 100 professionals and is an SEC-registered investment advisor headquartered in New York.
VirtualInvestorConferences.com, created by BetterInvesting (NAIC) and PR Newswire, has been the only monthly virtual investor conference series that provides an interactive forum for presenting companies to meet directly with investors using a graphically-enhanced online platform.
Designed to replicate the look and feel of location-based investor conferences, Virtual Investor Conferences unites PR Newswire's leading-edge online conferencing and investor communications capabilities with BetterInvesting's extensive retail investor audience network.
SOURCE Prospect Capital Management L.P.