2. LEAGUE SELECTION. Game choice is really critical, particularly for novices. If you're a beginner, you in all likelihood don't want to join an advanced stakes fantasy NASCAR league comprised of fantasy NASCAR experts.
A BDC is a type of closed-end fund that makes investments in developing companies and firms that are financially distressed. The U.S. Congress created BDCs in 1980 to assist emerging U.S. businesses in raising funds and fuel job growth.
But unlike the BDC balance sheet, which is restricted to leverage of 1.0x, these off-balance sheet funds can be levered meaningfully higher, in most cases 2.0xâ3.0x. The BDC itself often has an equity investment in the fund, akin to a residual interest in a CLO, with expectations for generating mid-teen returns.