Apr 05, 2026, 9:15 AM ETKBDC, HTGCRoberts Berzins, CFA14.49K FollowersCommentsBDCs are under fire and forced to think about defense.For investors, it does not make sense to dive into above-average risk names when the environment is this uncertain and discounts are big across the board.However, as the saying in sports goes, the best defense is a good offense.In the article I elaborate on 2 BDCs that are uniquely positioned to leverage current high-spread environments for sustainable growth, all while preserving robust core fundamentals.anusorn nakdee/iStock via Getty ImagesBecause of the heightened volatility and fundamental concerns about private credit (including BDCs), investors who have decided to keep their positions in place or even add a bit are doing so by leaning into defensive names.This article was written byRoberts Berzins, CFA14.49K FollowersRoberts Berzins has over a decade of experience in the financial management helping top-tier corporates shape their financial strategies and execute large-scale financings. He has also made significant efforts to institutionalize REIT framework in Latvia to boost the liquidity of pan-Baltic capital markets. Other policy-level work includes the development of national SOE financing guidelines and framework for channeling private capital into affordable housing stock. Roberts is a CFA Charterholder, ESG investing certificate holder, has had an internship in Chicago board of trade (albeit, being resident and living in Latvia), and is actively involved in "thought-leadership" activities to support the development of pan-Baltic capital markets.Analyst’s Disclosure: I/we have a beneficial long position in the shares of KBDC either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.Comments