Frank Karl

In this engaging conversation, Frank Karl, President of Kayne Anderson BDC, shares his expertise in middle-market direct lending. He discusses the recent volatility in BDC prices, attributing it to rate cuts and credit market concerns. Frank explains the appeal of core middle-market lending, emphasizing its lower leverage and attractive documentation. He also highlights KBDC's strategic shift back to private loans, the nuances of payment-in-kind loans, and why private credit offers valuable downside protection for investors.