BPCC is an externally managed, non-diversified BDC that seeks current income from directly originated senior secured loans to sponsor-backed U.S. and European middle-market companies ($15-75 million Adjusted EBITDA), typically SOFR + 450-650 bp, with opportunistic equity, special situations, structured credit, syndicated loans and high yield to a lesser extent. It was seeded in May 2021 with a $602.4 million loan portfolio bought from MassMutual at appraised fair value. At 3/31/2026 it held 490 companies, $5.157 billion at fair value, 87% senior debt and first lien notes at cost. [Review s.1-2]