All told, more than a dozen nontraded BDCs have registered with the Securities and Exchange Commission over the last five years, according to Krus. Those identified as being aimed at retail investors and advised by buyout shops have raised or are seeking an estimated $8.6 billion.For reasons I don't understand, new, non-traded BDCs have somehow become the domain of non-traded REIT sponsors.
The article talks about the front end fees of BDCs, which are identical on the BDCs I have reviewed. One point to note is that non-traded BDCs' ongoing fees are the same as listed BDCs.
Update: Here is another article on BDCs from Bloomberg. Pension funds are looking to BDCs for their high yields.