Palmer Square Capital BDC Business Summary

Palmer Square Capital BDC Inc. (PSBD) operates as an externally managed, non-diversified business development company that generates revenue primarily through interest income and capital appreciation from a portfolio of corporate debt securities. The company’s business model is bifurcated into two primary segments: investments in broadly syndicated loans (BSLs) and large-cap direct lending to private U.S. companies. Unlike many peers, PSBD focuses on high-quality, floating-rate senior secured loans to larger enterprises with robust EBITDA profiles, while maintaining a smaller opportunistic allocation to collateralized loan obligation (CLO) debt and equity. It competes directly with other major BDCs such as Morgan Stanley Direct Lending Fund (MSDL), Goldman Sachs BDC (GSBD), Barings BDC (BBDC), and Trinity Capital (TRIN). PSBD distinguishes itself in the market through a unique liquid loan strategy, the disclosure of monthly Net Asset Value (NAV), and a shareholder-aligned fee structure that charges management fees on net assets rather than gross assets. The leadership team is anchored by the founding expertise of Palmer Square Capital Management, led by Chairman and CEO Christopher D. Long, who holds an MBA from Harvard and an AB from Princeton with a career pedigree including roles at Morgan Stanley and JPMorgan. Key executives include Chief Financial Officer Jeffrey D. Fox, formerly a Managing Director at Sandler O’Neill, and President Matthew L. Bloomfield, who previously managed leveraged loan offerings at Golub Capital. Chief Investment Officer Angie K. Long, a veteran with over 26 years of credit experience, oversees the firm’s investment strategy alongside a team of approximately 30 professionals. The company’s governance is supported by a board featuring independent directors such as Christopher C. Nelson and James W. Neville Jr., while notable institutional backing includes significant positions held by Mariner LLC and Rivernorth Capital Management.