When Australian investors think about the US economy, they think Apple, Amazon and the S&P 500. But the engine room of American business sits somewhere else entirely.
The US middle market is roughly one third of US GDP. Around 200,000 companies, employing 48 million Americans. If it stood alone, it would be the third-largest economy in the world, ahead of Germany and ahead of Japan.
These are the businesses BDCs lend to. And BDCI is how Australian income investors can lend alongside them.
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