Structure and support your business development company (BDC) with an experienced team across fund accounting and administration, statutory distribution, compliance, and transfer agency.
Business Development Companies
Business development company fund administration
Comprehensive support for BDCs
BDCs give your investors access to private credit market opportunities that are typically difficult to reach through traditional funds. As demand for income-oriented strategies and portfolio diversification grows, BDCs help you deliver exposure to alternative asset classes while offering the potential for attractive yields within a regulated investment structure.
Ultimus supports you with a comprehensive suite of solutions that span the full BDC lifecycle, delivering end-to-end support from fund formation through ongoing operations.
Customized solutions for complex BDC fund strategies
Streamline capital activity with integrated recordkeeping
Leverage our integrated recordkeeping system to support capital call and tender offer processing, helping ensure accuracy and consistency across workflows. Our system supports efficient execution of complex capital activity while reducing manual intervention and operational friction.
Simplify financial and regulatory reporting
Access comprehensive support for quarterly 10‑Q and annual 10‑K filings with the SEC. Streamlined reporting processes help you maintain compliance, improve transparency, and meet ongoing regulatory requirements with confidence.
Support fund formation through ongoing operations
Partner with us for a consultative approach that draws on deep industry knowledge across the BDC and registered fund landscape, guiding you through structure design and fund formation while helping you align strategy, structure, and execution from the outset. Our integrated model supports a smooth transition from formation into ongoing operations.
Leverage comprehensive transfer agent capabilities
Our transfer agency supports scalability, improves service delivery, and connects your BDC to the broader distribution ecosystem, including major alternative investment platforms, broker-dealer networks, and RIA channels, through established integrations and subscription-processing workflows.
Services and solutions
Fund accounting
Periodic portfolio valuation, cash forecasting, accrual processing, and NAV reporting to support accurate financial operations.
Fund administration
Preparation and coordination of quarterly 10-Q and annual 10-K filings, preparation of quarterly/annual financial statements for inclusion in SEC reporting, coordination of audits, and expense monitoring.
Statutory distribution
Technology-driven support for statutory distribution, including FINRA advertising review, order approval, AP agreement execution, registered representative oversight, and consultative guidance through the Ultimus Distribution Advantage (UDA) program.
Legal and board support
Governance coordination, board reporting, and support for policies, procedures, and regulatory documentation.
Investment Company Act of 1940 (‘40 Act) and Regulated Investment Company (RIC) compliance testing
Portfolio compliance, diversification testing, and monitoring to support adherence to regulatory requirements.
Transfer agent and investor servicing
Investor onboarding, capital activity processing, statements, and ongoing shareholder communications.
Benefits of partnering with Ultimus
Accelerate time to market
Launch your BDC with coordinated structuring, onboarding, and operational support designed to streamline execution and reduce time to market.
Operate with confidence in a regulated structure
Navigate complex BDC requirements with integrated compliance, reporting, and governance support aligned to ’40 Act and RIC standards.
Scale distribution with integrated support
Expand your investor reach with statutory distribution, intermediary connectivity, and coordinated servicing across evolving distribution channels.
Maintain accuracy across complex operations
Support intricate private credit portfolios with aligned fund accounting, administration, and data workflows designed to ensure accuracy and consistency.
Deliver a seamless investor experience
Enhance the investor experience through streamlined onboarding, capital activity processing, and ongoing communication supported by integrated transfer agent services.
Frequently asked questions
What makes business development companies (BDCs) operationally different from other registered fund structures?
BDCs combine private credit-focused portfolios with public company reporting and ongoing Investment Company Act of 1940 (‘40 Act) and Regulated Investment Company (RIC) compliance requirements that require specialized administrative, accounting, and reporting infrastructure beyond what a standard registered fund servicing model provides.
How does Ultimus support SEC reporting requirements for BDCs?
Ultimus provides comprehensive end-to-end support for quarterly and annual SEC filings, aligning fund accounting and operational data to streamline 10‑Q and 10‑K production.
What considerations should be evaluated when structuring a BDC?
Structure decisions depend on your investment strategy, liquidity profile, and distribution approach, with key trade-offs across exchange-traded, non-traded, and private BDC models.
How are capital calls, repurchases, and tender offers managed in a BDC?
Capital activity is supported through integrated recordkeeping and transfer agent workflows structured to deliver accuracy, transparency, and efficient processing across investor transactions.
How does Ultimus help manage compliance and regulatory complexity?
Ultimus delivers portfolio compliance, diversification testing, and governance support aligned to ’40 Act and RIC requirements, helping you maintain control in a regulated environment.