# Goldman Sachs BDC Goldman Sachs BDC is an Asset Manager based in New York, United States. ## Overview - **Organization type:** Asset Manager - **Headquarters:** New York, United States - **Region:** North America - **Address:** New York, NY, United States - **Founded:** 2012 - **Assets under management:** Undisclosed - **Website:** goldmansachsbdc.com ## Regulatory record - **Reports private funds:** No ## About Goldman Sachs BDC, Inc. launched in 2012 as a publicly listed business development company that gives public-market investors access to middle-market debt deals originated through Goldman Sachs' private credit network. Co-CEOs Alex Chi and David Miller co-manage the portfolio alongside the broader Goldman Sachs Asset Management platform, leveraging a sourcing apparatus that includes roughly 150 investment professionals across the US. The vehicle provides direct senior secured loans to companies ignored by broadly syndicated markets. The portfolio concentrates on first-lien floating-rate loans, with additional exposure to second-lien and mezzanine debt. Weighted-average yield on the debt portfolio has consistently exceeded 10 percent in recent reporting periods (per SEC filings, 2024). Core allocations include enterprise software, healthcare services, and industrial technology. Representative portfolio companies tracked through regulatory disclosures include cybersecurity provider Optiv Security, insurance platform Asurion, and consumer-facing restaurant group P.F. Chang's — reflecting the BDC's appetite for established, cash-flowing businesses with defensible market positions. Geographic deployment skews heavily toward the US with limited European inflections. As a BDC, the firm operates under a regulated asset coverage requirement while distributing a majority of taxable income as dividends. The structure serves Goldman Sachs' dual objective of maintaining a permanent capital base for illiquid corporate lending while offering yield-oriented public investors a conduit into the bank's broader sponsor-backed deal flow. In February 2024, the firm amended its senior secured revolving credit facility, increasing total commitments and renewing the maturity schedule — reinforcing access to supplemental liquidity for portfolio construction. The structural differentiator is the embedded origination pipeline: the BDC does not source independently but co-invests alongside and through Goldman Sachs' institutional private credit platform, including the GSAM Private Credit Group. Deal flow arrives pre-screened from a $110 billion-plus global alternatives franchise, making the BDC one of the few publicly traded vehicles that systematically absorbs the originating bank's proprietary credit pipeline within a regulated 1940 Act framework. ## Sectors - Enterprise Software - Healthcare Services - Industrial Tech - Business Services ## People - Alex Chi — Co-Chief Executive Officer and Co-Chief Investment Officer - David Miller — Co-Chief Executive Officer and Co-Chief Investment Officer ## Questions ### Who runs investment decisions at Goldman Sachs BDC? Alex Chi and David Miller serve as Co-Chief Executive Officers and Co-Chief Investment Officers. Both are senior members of Goldman Sachs Asset Management's Private Credit Group and rely on an investment committee within Goldman's structured credit platform for formal approval on portfolio allocations. ### What investment structure dominates the portfolio — direct loans, fund commitments, or something else? Direct originated senior secured loans, overwhelmingly first-lien floating-rate instruments. The BDC also holds select second-lien and mezzanine positions. It does not commit to third-party private credit funds; all credit exposure is held directly on balance sheet. ### Which sectors does Goldman Sachs BDC explicitly avoid? The BDC avoids early-stage venture lending, volatile commodity-exposed industries, and businesses with under $15 million in EBITDA at entry. It also historically carries minimal exposure to real estate lending or highly cyclical manufacturing. ### What separates Goldman Sachs BDC from other publicly traded BDCs? The BDC's key advantage is the Goldman Sachs wide-body origination funnel, which feeds pre-negotiated deal flow into a regulated vehicle that other BDCs are forced to source organically. This arrangement eliminates the cold-call business development headwind that defines most independent BDC platforms. ### How is portfolio credit quality monitored? The firm marks loans quarterly and reports non-accrual rates as a share of total portfolio. Goldman Sachs' central credit risk function oversees portfolio surveillance alongside the investment team, with writedowns flagged in SEC filings. Recent non-accrual rates have run at the low end of the BDC peer set. ## Related profiles - [Hyperliquid Strategies](https://altss.com/profile/hyperliquid-strategies-inc) - [MannKind](https://altss.com/profile/mannkind-corp) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/goldman-sachs-bdc-inc Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology