BeBeez roundup with eToro support about the performances of private capital firms listed on global exchanges.
US President Donald Trump jolted to global geopolitics and produced a crack in the Europe-United States relations. The event convinced the leading countries of the Old Continent that the time to arm and defend themselves arrived. Obviously, this will require a considerable and prolonged strain on their public finances.
Given the Japan’s GDP in 4Q24 grew by 0.7% (2.8% on an annual basis) and the US economy robust health, investors don’t expect the main central banks to carry on further loosening of monetary policies, and thus declines in interest rates.
Banks and private debt investors are benefiting from this environment, as already emerged in the previous week (see here a previous post by BeBeez). This is why once again this time around, at the top of the ranking by stock performance that BeBeez selected on the eToro platform and reported on the Trading Floor section, there are several investors in this asset class, which companies around the world are increasingly resorting to, especially to finance development plans and M&A. These funds are almost always disbursed at variable rates.
Barings BDC (Business Development Corp), a subsidiary of the eponymous British merchant bank based in Charlotte, North Carolina and listed on Wall Street, leads the table. The firm It invests in securities issued by medium-sized companies and closed the week up 5.4% grace in part to the 2024 accounts it released on Thursday 20 February. The results showed higher-than-expected growth in interest income (see here the press release).
In 2024, French Tikehau Capital (+3.2%) invested in private debt, mainly direct lending, 80% of its 7 billion euros worth resources. The firm’s management fees grew by 8% for a total of 337 million (see here the press release).
CION Investment Corporation (+2.6%), Goldman Sachs BDC (+1.8%), Oaktree Special Lending Corp (+1.6%), and venture debt firm Runway Growth Finance (+1.5%) also benefited of this trend.
Below-expectations quarterly results penalised Crescent Capital BDC (-7.6%). Analysts expected the firm to generate a 47 million US Dollars turnover, but the figure amounted to 46 million (see here the press release). In the six months leading up to 20 February, when the 2024 accounts were released, the stock went up 11%.
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