Investors asked for up to 38% of NAV back. Most got 5%.

Q2 2026 share flows at all 65 non-listed BDCs, sorted by NAV. Submitted, redeemed and net flows are % of beginning-of-quarter NAV. Most funds cap quarterly repurchases at 5% of shares; fill rate is the share of requests the fund accepted. Search for a fund or page through the list.

Net flows = shares sold + distribution reinvestment − shares redeemed. Covers every BDC not listed on an exchange that sold shares by prospectus or ran a tender offer since 2025 and filed a June 30, 2026 10-Q. Some, such as Sixth Street Lending Partners and MSD, are institutional funds that raise money through capital calls and have no tender program (blank). Submitted equals redeemed unless the fund disclosed proration. Tickers are shown only where the manager uses one. ¹ OTIC's Q4 2025 tender slipped to Jan. 8, 2026, so Q1 2026 holds two tenders. ² BCRED raised its Q1 2026 cap to 7% and filled all requests. ³ An Oaktree/Brookfield affiliate separately bought shares from one investor in Q1 2026. ⁴ A-STAR tenders semiannually. ⁵ StepStone's feeder fund nets investor redemptions before tendering, so its data understates demand. ⁶ TCW Direct Lending VIII moved 50.5% of units into a TCW perpetual fund via an April 2026 exchange offer (not shown as a redemption).
Chart: Accredited InsightSource: SEC filings (10-Q, 10-K, Schedule TO-I/A)