By Sam Goldfarb

Things aren't getting any easier for business development companies.

Stocks of the publicly traded private-credit funds have been sliding due to falling interest rates and concerns about their exposure to software companies, which many fear are vulnerable to AI disruption.

On Friday, shares of two BDCs-BlackRock TCP Capital and Apollo Global Management's MidCap Financial Investment--fell after the companies announced dividend cuts.

The BlackRock BDC is now down around 25% year-to-date, while the Apollo fund is down about 13%.

The BlackRock BDC is cutting its dividend to 17 cents a share from 25 cents. Midcap Financial is cutting its dividend to 31 cents a share from 38 cents. The Apollo BDC also authorized a new $100 million stock repurchase plan.

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(END) Dow Jones Newswires

February 27, 2026 12:14 ET (17:14 GMT)

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