BCP Investment
Originates middle-market loans and selected equity investments through an externally managed BDC.
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Profile
Originates and invests in secured loans, notes, mezzanine debt, and selected equity positions for middle-market companies. The externally managed BDC is advised by Sierra Crest Investment Management, a BC Partners affiliate, and operates within the Investment Company Act framework.
Originates, structures, and invests in debt and selected equity positions for middle-market businesses. The portfolio centers on secured term loans, bonds or notes, and mezzanine debt, while also permitting investments in loans to public companies, high-yield bonds, and distressed debt.
Operates as an externally managed, non-diversified closed-end investment company that has elected business development company status under the Investment Company Act of 1940. Sierra Crest Investment Management, a BC Partners affiliate, serves as investment adviser. Activity is principally focused on privately held middle-market companies, and the portfolio can include selected equity securities. The adviser relationship and BDC regulatory framework shape the operating model.
Company facts
Categories
Key statistics
Year to date −34.9% · Average volume (30d) 53.7K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating |
|---|---|---|---|---|
| Mar 9, 2026 | Ladenburg Thalmann | Downgrade | Buy | Neutral |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $0.41 | $0.45 | +9.8% | $15.2M | $15.2M | −0.3% | +1.49% |
| May 7, 2026Q1 FY26 | $0.32 | $0.55 | +71.9% | $15.4M | $17.6M | +14.0% | +6.23% |
| Mar 5, 2026Q4 FY25 | $0.54 | $0.57 | +5.6% | $18.4M | $17.5M | −4.7% | −13.13% |
| Nov 6, 2025Q3 FY25 | $0.51 | $2.57 | +406.9% | $15.7M | $28.9M | +84.2% | +4.04% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $5.7M | $1.0M | $28.9M | $14.7M | $15.6M | $4.7M | |
| Gross profit | $1.4M | −$3.2M | $23.4M | $12.2M | $12.5M | $2.5M | |
| Operating income | $264.0K | −$4.7M | $21.7M | −$616.0K | −$4.3M | −$3.6M | |
| Net income | −$82.0K | −$4.5M | $23.6M | −$7.5M | −$10.2M | −$9.9M | |
| Diluted EPS | −$0.01 | −$0.49 | $1.86 | −$0.60 | −$0.82 | −$0.80 | |
| Gross margin | 24.0% | -320.5% | 80.9% | 82.8% | 80.0% | 53.1% | |
| Operating margin | 4.7% | -462.7% | 75.0% | -4.2% | -27.8% | -77.0% |
Fiscal years (4-quarter sums)FY21 $52.4M · FY22 $6.0M · FY23 $43.4M · FY24 $20.7M · FY25 $50.3M
Balance sheet, Jun 30, 2026Cash & short-term investments $2.5M · Total debt $280.8M · Total assets $469.4M · Shareholders' equity $179.5M
Dividends
Last cut to $0.09 from $0.32 in Apr 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 14, 2026 | Aug 14 | Aug 31 | $0.09 | |
| Jul 15, 2026 | Jul 15 | Jul 31 | $0.09 | |
| Jun 15, 2026 | Jun 15 | Jun 30 | $0.09 | |
| May 18, 2026 | May 18 | May 29 | $0.03 | special dividend |
| May 15, 2026 | May 15 | May 29 | $0.09 | |
| Apr 15, 2026 | Apr 15 | Apr 30 | $0.09 | cut from $0.32 |
| Mar 16, 2026 | Mar 16 | Mar 27 | $0.32 | cut from $0.47 |
| Nov 17, 2025 | Nov 17 | Nov 25 | $0.47 |
Ownership
Shares outstanding 12.38M · Float 12.21M · 98.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Edward J. Goldthorpe · director, officer: President, CEO | 99.9K | 0.81% | Form 4 | Jun 24, 2026 |
| Dean C. Kehler · director | 90.8K | 0.73% | Form 4 | May 19, 2026 |
| Patrick Schafer · director, officer: Chief Investment Officer | 27.3K | 0.22% | Form 4 | Mar 23, 2026 |
| George Grunebaum · director | 14.1K | 0.11% | Form 4 | Mar 24, 2026 |
| Brandon Satoren · officer: CFO, Treasurer and Secretary | 5.0K | 0.04% | Form 4 | Mar 23, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 22, 2026 | Edward J. Goldthorpe | director, officer: President, CEO | +13,738 | $7.16 |
| May 18, 2026 | Dean C. Kehler | director | −15,000 | $7.64 |
| Mar 23, 2026 | Dean C. Kehler | director | −37,100 | $7.38 |
| Mar 23, 2026 | George Grunebaum | director | +6,800 | $7.54 |
| Mar 23, 2026 | David Held | officer: Chief Compliance Officer | +938 | $7.35 |
Peers
- Ares Capital
Large-scale middle-market debt and equity investor
- Blue Owl Capital
Direct lender to U.S. middle-market companies
- Blackstone Secured Lending Fund
Senior secured lender to middle-market businesses
- FS KKR Capital
Middle-market lender across senior secured debt
- Sixth Street Specialty Lending
Direct lender to U.S. middle-market companies
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| BCP Investment | $7.78 | +0.26% | $96.3M | — | 5.4 | 1.5 | +1,407.5% |
| Ares Capital | $19.97 | +0.15% | $14.32B | 14.8 | 10.3 | 6.2 | +32.6% |
| Blue Owl Capital | $11.37 | +0.64% | $5.61B | 20.2 | 8.8 | 4.0 | −20.8% |
| Blackstone Secured Lending Fund | $24.83 | +0.35% | $5.76B | 19.6 | 9.5 | 5.4 | +25.9% |
| FS KKR Capital | $12.22 | −0.41% | $3.43B | — | 7.8 | 3.6 | +11.5% |
| Sixth Street Specialty Lending | $18.74 | −0.11% | $1.78B | 19.7 | 10.5 | 5.2 | −13.0% |
| Median | 19.7 | 9.5 | 5.2 | +11.5% |