NEW YORK, June 14, 2017 (GLOBE NEWSWIRE) -- TCG BDC, Inc. (Nasdaq:CGBD), an externally managed specialty finance company focused on lending to middle-market companies, visited the Nasdaq MarketSite in Times Square today in celebration of its initial public offering (IPO) on The Nasdaq Stock Market. TCG BDC is managed by Carlyle GMS Investment Management L.L.C., which is a part of the Carlyle Group (NASDAQ:CG). Nasdaq is the home exchange to 75 percent of the publicly listed business development companies (BDCs). After the success of its IPO, TCG BDC becomes one of the largest BDCs listed on Nasdaq as measured by total assets.
TCG BDC’s investment objective is to generate current income and capital appreciation primarily through debt investments in U.S. middle market companies. The company utilizes a rigorous, systematic, and consistent due diligence underwriting process that has been refined over The Carlyle Group’s long history investing in private markets to evaluate all investment opportunities. Since the company commenced investment operations in May 2013 through March 31, 2017, TCG BDC invested more than $2.4 billion in aggregate principal amount of debt and equity investments prior to any subsequent exits or repayments.
“We are thrilled to have completed our initial public offering on the Nasdaq Stock Market. Our successful public offering highlights the strong investor interest in this asset class and specifically Carlyle global credit’s direct lending capabilities and team,” said Michael Hart, Chief Executive Officer and Chairman of the Board.
“Nasdaq congratulates and welcomes Carlyle’s TCG BDC, to join our family of innovators in the financial services industry. We look forward to supporting the company’s continued growth and success,” said Nelson Griggs, Executive Vice President, Head of Global Listings, Nasdaq.”
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