On today’s show we welcome special guest, Kayne Anderson BDC President Frank Karl. Kayne Anderson BDC invests primarily in first lien senior secured loans with a secondary focus on unitranche and split-lien loans to private middle market companies. On the show, we discuss:Recent volatility in BDC prices and what is driving NAV discountsCredit market conditions amidst talk of “cockroaches” and negative headlines from First Brands and TricolorCharacteristics that make core middle market direct lending attractive for investorsAn update on private credit spreads and payment-in-kind loansAnd more!